Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced the cancellation of the time charter contract with Al Ghurair Resources International L.L.C., Dubai, for one of its Post-Panamax dry bulk vessels, the m/v Polymnia, as announced on October 10, 2019. Charterers have exercised their right to cancel the time charter contract since the vessel was not delivered, due to unforeseen events, unrelated to the condition of the vessel, during the pre-agreed period. The m/v Polymnia is currently chartered, as previously announced, to Cargill International S.A., Geneva, at a gross charter rate of US$16,000 per day, minus a 4.75% commission paid to third parties. At the moment the Company is seeking a replacement charter for the m/v Polymnia.

The “Polymnia” is a 98,704 dwt Post-Panamax dry bulk vessel built in 2012.

Diana Shipping Inc.’s fleet currently consists of 43 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 15 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.3 million dwt with a weighted average age of 9.46 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 a part of this press release.

About the Company

Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.