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 Bocimar International N.V., for one of its Kamsarmax dry bulk vessels, the m/v Myrsini. The gross charter rate is US$27,750 per day, minus a 5% commission paid to third parties, for a time charter period until minimum October 15, 2021 up to maximum November 30, 2021. The charter is expected to commence on May 10, 2021. The m/v Myrsini is currently chartered, as previously announced, to Ausca Shipping Limited, Hong Kong, at a gross charter rate of US$11,500 per day, minus a 5% commission paid to third parties.

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

The employment of “Myrsini” is anticipated to generate approximately US$4.3 million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sale of one Panamax dry bulk vessel, the m/v Naias, Diana Shipping Inc.’s fleet will consist of 36 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 10 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Naias,  is approximately 4.7 million dwt with a weighted average age of 10.21 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.