Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Aquavita International S.A., for one of its Ice Class Panamax dry bulk vessels, the m/v Atalandi. The gross charter rate is US$24,500 per day, minus a 4.75% commission paid to third parties, for a period until minimum February 15, 2023 up to maximum April 30, 2023. The charter is expected to commence on October 3, 2021. The m/v Atalandi is currently chartered, as previously announced, to Uniper Global Commodities SE, Düsseldorf, at a gross charter rate of US$9,300 per day, minus a 5% commission paid to third parties.

The “Atalandi” is a 77,529 dwt Ice Class Panamax dry bulk vessel built in 2014.

The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Aquavita International S.A, for one of its Panamax dry bulk vessels, the m/v Leto. The gross charter rate is US$25,500 per day, minus a 4.75% commission paid to third parties, for a period until minimum February 1, 2023 up to maximum April 15, 2023. The charter is expected to commence on October 2, 2021. The m/v Leto is currently chartered, as previously announced, to Cargill International S.A., Geneva, at a gross charter rate of US$9,000 per day, minus a 4.75% commission paid to third parties.

The “Leto” is a 81,297 dwt Panamax dry bulk vessel built in 2010.

The employments of “Atalandi” and “Leto” are anticipated to generate approximately US$24.27 million of gross revenue for the minimum scheduled period of the time charters.

Diana Shipping Inc.’s fleet currently consists of 36 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 10 Panamax). The Company also expects to take delivery of one Kamsarmax dry bulk vessel by the end of February 2022. As of today, the combined carrying capacity of the Company’s fleet, excluding the one vessel not yet delivered, is approximately 4.6 million dwt with a weighted average age of 10.53 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.