Diana Shipping Inc. Announces Time Charter Contract for m/v Electra with Oldendorff Carriers and Termination of Sale Agreement for m/v DSI Drammen

17 Nov 2025 15:31 CET

ATHENS, GREECE, November 17, 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
Oldendorff Carriers GmbH & Co. KG, for one of its Post-Panamax dry bulk vessels,
the m/v Electra. The gross charter rate is US$14,000, minus a 5.00% commission
paid to third parties, for a period until minimum December 1, 2026 up to maximum
January 31, 2027. The charter is expected to commence on December 4, 2025.

The “Electra” is an 87,150 dwt Post-Panamax bulk vessel built in 2013.

The employment of “Electra” is anticipated to generate approximately US$5.00
million of gross revenue for the minimum scheduled period of the time charter.

The Company also announced that, the previously disclosed Memorandum of
Agreement for the sale of the 2016-built Ultramax dry bulk vessel m/v DSI
Drammen has been terminated. The Company, through a limited partnership in which
it holds a 25% interest (with the remaining 75% owned by Ecobulk AS, a Norwegian
entity), had announced the sale of the vessel on September 18, 2025, with
delivery to the buyer scheduled latest by October 31, 2025, for a sale price of
approximately US$26.86 million before commissions.

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 11.98 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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