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Athens, Greece - May 19, 2021 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 Mitsui O.S.K. Lines, Ltd., for one of its Kamsarmax dry bulk vessels, the m/v Astarte. The gross charter rate is US$25,000 per day, minus a 5% commission paid to third parties, for a time charter period until minimum November 1, 2021 up to maximum December 15, 2021. The charter is expected to commence tomorrow. The m/v Astarte is currently chartered, as previously announced, to Aquavita International S.A., at a gross charter rate of US$11,750 per day, minus a 5% commission paid to third parties. The “Astarte” is a 81,513 dwt Kamsarmax dry bulk vessel built in 2013. The employment of “Astarte” is anticipated to generate approximately US$4.03 million of gross revenue for the minimum scheduled period of the time charter. Upon completion of the previously announced sale of one Panamax dry bulk vessel, the m/v Naias, Diana Shipping Inc.’s fleet will consist of 36 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 10 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Naias, is approximately 4.7 million dwt with a weighted average age of 10.25 years. 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 
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