Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Ausca Shipping Limited, Hong Kong, for one of its Kamsarmax dry bulk vessels, the m/v Myrsini. The gross charter rate is US$11,500 per day, minus a 5% commission paid to third parties, for a period of minimum thirteen (13) months to about fifteen (15) months. The charter is expected to commence on December 4, 2019.

The “Myrsini” is a 82,117 dwt Kamsarmax dry bulk vessel built in 2010.

The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for one of its Panamax dry bulk vessels, the m/v Artemis. The gross charter rate is US$10,150 per day, minus a 5% commission paid to third parties, for a period of about nine (9) months to maximum eleven (11) months. The charter commenced on November 28, 2019.

The “Artemis” is a 76,942 dwt Panamax dry bulk vessel built in 2006.

The employments of “Myrsini” and “Artemis” are anticipated to generate approximately US$7.07 million of gross revenue for the minimum scheduled period of the time charters.

Diana Shipping Inc.’s fleet currently consists of 42 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 14 Panamax). As of today, the combined carrying capacity of our fleet is approximately 5.2 million dwt with a weighted average age of 9.41 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.