A Time Charter Contract for m/v Ismene with ST Shippin

Diana Shipping , a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v DSI Altair , a 2016 built Ultramax dry bulk vessel of 60,309 dwt. The vessel is one of nine modern Ultramax dry bulk vessels that the Company entered into an agreement to purchase in August 2022.

The Company also announced that, through the same wholly-owned subsidiary, it entered into a time charter contract with Western Bulk Pte. Ltd. at a gross charter rate of US$14,400 per day, minus a 5% commission paid to third parties, for a period until minimum June 25, 2023 up to maximum August 25, 2023. The charter is expected to commence on December 29, 2022.

In addition, the Company announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with ST Shipping and Transport Pte. Ltd., for one of its Panamax dry bulk vessels, the m/v Ismene. The gross charter rate is US$14,000 per day, minus a 5% commission paid to third parties, for a period until minimum August 20, 2023 to maximum October 10, 2023. The charter is expected to commence on December 31, 2022.

The “Ismene” is a 77,901 dwt Panamax dry bulk vessel built in 2013.

The employments of “DSI Altair” and “Ismene” are anticipated to generate approximately US$5.77 million of gross revenue for the minimum scheduled period of the time charters.

Including the newly delivered m/v DSI Altair, Diana Shipping Inc.’s fleet currently consists of 42 dry bulk vessels (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax, 8 Panamax and 8 Ultramax). The Company also expects to take delivery of 1 Ultramax dry bulk vessel in the fourth quarter of 2022. As of today, the combined carrying capacity of our fleet, excluding the 1 Ultramax dry bulk vessel not yet delivered, is approximately 4.9 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.