Diana Shipping Inc. Announces Time Charter Contract for m/v Seattle with SwissMarine and the Sale of a Dry Bulk Vessel, the m/v DSI Drammen

21 Nov 2025 16:48 CET

ATHENS, GREECE, November 21, 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
SwissMarine Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the
m/v Seattle. The gross charter rate is US$24,500, minus a 5.00% commission paid
to third parties, for a period until minimum May 1, 2027 up to maximum June 30,
2027. The charter is expected to commence on November 26, 2025. The m/v Seattle
was chartered, as previously announced, to Solebay Shipping Cape Company
Limited, Hong Kong, at a gross charter rate of US$17,500 per day, minus a 5.00%
commission paid to third parties.

The “Seattle” is an 179,362 dwt Capesize bulk vessel built in 2011.

The employment of “Seattle” is anticipated to generate approximately US$12.62
million of gross revenue for the minimum scheduled period of the time charter.

The Company also announced that it has signed, through a limited partnership, a
Memorandum of Agreement to sell to an unaffiliated third party, the 2016-built
Ultramax dry bulk vessel m/v DSI Drammen, with delivery to the buyer latest by
March 31, 2026, for a sale price of approximately US$26.40 million before
commissions. The vessel has now been sold to a buyer, entirely unrelated to the
previous one who failed to complete the transaction. The Company, through its
wholly-owned subsidiaries, holds a 25% interest in the limited partnership,
while the remaining 75% of the limited partnership is owned by Ecobulk AS, a
Norwegian entity.

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 m/v DSI Drammen and the two vessels not yet
delivered, is approximately 4.1 million dwt, with a weighted average age of
11.99 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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