Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, today announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2001-built vessel “Oceanis”, with delivery to the buyer latest by April 16, 2021, for a sale price of US$5.75 million before commissions.

The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with EGPN Bulk Carrier Co., Limited, Hong Kong, for one of its Capesize dry bulk vessels, the m/v New York. The gross charter rate is US$14,000 per day, minus a 5% commission paid to third parties, for a period until minimum April 16, 2022 up to maximum June 30, 2022. The charter is expected to commence on December 27, 2020.

The “New York” is a 177,773 dwt Capesize dry bulk vessel built in 2010.

This employment is anticipated to generate approximately US$6.57 million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the aforementioned sale and the previously announced sales of one Panamax dry bulk vessel, the m/v Coronis, and one Capesize dry bulk vessel, the m/v Sideris GS , Diana Shipping Inc.’s fleet will consist of 37 dry bulk vessels
(4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 11 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Oceanis, the m/v Coronis and the m/v Sideris GS  is approximately 5.0 million dwt with a weighted average age of 10.20 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.