Diana Shipping 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 Bunge S.A., Geneva, for one of its Capesize dry bulk vessels, to be named “Florida”. The gross charter rate is US$25,900 per day, minus a 5% commission paid to third parties, for a period of minimum fifty-eight  months to maximum sixty-two  months. The charter is expected to commence on March 29, 2022.

As previously announced on December 3, 2021, the m/v Florida is a 2022 Japanese new-building Capesize dry bulk vessel of approximately 181,500 dwt that the Company entered into an agreement to purchase in December 2021. The vessel is now expected to be delivered to the Company by the sellers by March 29, 2022.

The employment of “Florida” is anticipated to generate approximately US$45.07 million of gross revenue for the minimum scheduled period of the time charter.

Excluding the aforementioned vessel, Diana Shipping Inc.’s fleet currently consists of 34 dry bulk vessels (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax and 8 Panamax). As of today, the combined carrying capacity of the Company’s fleet, excluding the one vessel not yet delivered, is approximately 4.4 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.