The capesize m/v Boston.   Image by Diana Shipping Inc.



Diana Shipping Inc. Announces Time Charter Contract for m/v Boston with Aquavita

Athens, Greece - July 18, 2022

Diana Shipping Inc. (NYSE: DSX), (the “Company”), 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 entered into a time charter contract with Aquavita International S.A., for one of its Capesize dry bulk vessels, the m/v Boston.

The gross charter rate is US$20,500 per day, minus a 5% commission paid to third parties, for a period until minimum April 1, 2023 up to maximum May 31, 2023. The charter commenced on July 15, 2022.

The m/v Boston was previously chartered to Richland Bulk Pte. Ltd., at a gross charter rate of US$13,000 per day, minus a 5% commission paid to third parties.

The “Boston” is a 177,828 dwt Capesize dry bulk vessel built in 2007.

The employment of “Boston” is anticipated to generate approximately US$5.25 million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sale of one Capesize dry bulk vessel, the m/v Baltimore, Diana Shipping Inc.’s owned and bareboat chartered-in fleet will consist 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 our fleet, including the m/v Baltimore, is approximately 4.5 million dwt with a weighted average age of 10.47 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 and bareboat charter-in of dry bulk vessels.

The Company’s vessels are employed primarily on short to medium-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