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 acquire from unaffiliated third parties the m/v Magnolia, a 2011 built Kamsarmax dry bulk vessel of 82,165 dwt, for a purchase price of US$22.0 million. The Company anticipates to take delivery of the vessel by the end of February 2022.

Excluding the newly acquired vessel and 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, excluding the vessel not yet delivered and including the m/v Naias,  is approximately 4.7 million dwt with a weighted average age of 10.41 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.