Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Smart Gain Shipping Co., Limited, for one of its Capesize dry bulk vessels, the m/v Santa Barbara. The gross charter rate is US$21,250 per day, minus a 5% commission paid to third parties, for a period until minimum October 10, 2024 up to maximum December 10, 2024. The charter commenced on May 7, 2023.

The “Santa Barbara” is a 179,426 dwt Capesize dry bulk vessel built in 2015.

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 Post-Panamax dry bulk vessels, the m/v Phaidra. The gross charter rate is US$12,250 per day, minus a 4.75% commission paid to third parties, for a period until minimum September 1, 2024 up to maximum November 15, 2024. The charter is expected to commence tomorrow.

The “Phaidra” is a 87,146 dwt Post-Panamax dry bulk vessel built in 2013.

The employments of “Santa Barbara” and “Phaidra” are anticipated to generate approximately US$16.71 million of gross revenue for the minimum scheduled period of the time charters.

Diana Shipping Inc.’s fleet currently consists of 42 dry bulk vessels (4 Newcastlemax, 10 Capesize, 5 Post-Panamax, 6 Kamsarmax, 7 Panamax and 10 Ultramax). As of today, the combined carrying capacity of our fleet, is approximately 4.7 million dwt with a weighted average age of 10.05 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.