Diana Shipping Inc. Announces Time Charter Contract for m/v Santa Barbara with Norden

10 Nov 2025 15:32 CET

ATHENS, GREECE, November 10, 2025 – Diana Shipping Inc. (NYSE: DSX), (the
“Company”), a global shipping company specializing in the ownership and bareboat
charter-in of dry bulk vessels, today announced that, through a separate
wholly-owned subsidiary, it has entered into a time charter contract with
Dampskibsselskabet Norden A/S, for one of its Capesize dry bulk vessels, the m/v
Santa Barbara. The gross charter rate is US$25,500, minus a 5.00% commission
paid to third parties, for a period until minimum March 1, 2027 up to maximum
April 30, 2027. The charter is expected to commence on November 29, 2025. The
m/v Santa Barbara is currently chartered, as previously announced, to Mitsui
O.S.K. Lines, Ltd., at a gross charter rate of US$22,000 per day, minus a 5.00%
commission paid to third parties.

The “Santa Barbara” is a 179,426 dwt Capesize bulk vessel built in 2015.

The employment of “Santa Barbara” is anticipated to generate approximately
US$11.48 million of gross revenue for the minimum scheduled period of the time
charter.

Diana Shipping Inc.’s fleet currently consists of 36 dry bulk vessels (4
Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 5 Panamax and 9
Ultramax). The Company also expects to take delivery of two methanol dual fuel
new-building Kamsarmax dry bulk vessels by the second half of 2027 and the first
half of 2028, respectively. As of today, the combined carrying capacity of the
Company’s fleet, excluding the two vessels not yet delivered, is approximately
4.1 million dwt, with a weighted average age of 11.96 years. A table describing
the current Diana Shipping Inc. fleet can be found on the Company’s website,
www.dianashippinginc.com. Information contained on the Company’s website does
not constitute part of this press release...

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