M/V Norfolk.   Image by Diana Shipping Inc.





Diana Shipping Inc. Announces Time Charter Contract for m/v Norfolk with Swissmarine

Athens, Greece - November 24, 2017

Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Norfolk. The gross charter rate is US$13,250 per day, minus a 5% commission paid to third parties, for a period of minimum twenty-one (21) months to maximum twenty-four (24) months. The charter is expected to commence on December 1, 2017. The m/v Norfolk is currently chartered, as previously announced, to Trafigura Maritime Logistics Pte. Ltd., Singapore, at a gross charter rate of US$12,000 per day, minus a 5% commission paid to third parties.

The “Norfolk” is a 164,218 dwt Capesize dry bulk vessel built in 2002.

This employment is anticipated to generate approximately US$8.35 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 22 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.8 million dwt with a weighted average age of 8.26 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.

About the Company
Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

Diana Shipping Inc. press release