Diana Shipping Inc. Announces Signing of a Term Loan Facility with Nordea Bank

Athens, Greece - October 3, 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 on September 30, 2022, it signed a term loan facility with Nordea Bank Abp, filial i Norge (the "Lender"), through nine wholly-owned subsidiaries (the "Borrowers"), in the amount of up to US$200 million.

The purpose of the senior secured term loan facility is the partial financing of the nine modern ultramax dry bulk vessels, of which the Company expects to take delivery during the fourth quarter of 2022.

Upon completion of the previously announced acquisition of the nine dry bulk vessels, Diana Shipping Inc.'s fleet will consist of 43 dry bulk vessels (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax, 8 Panamax and 9 Ultramax). As of today, the combined carrying capacity of the Company's fleet, excluding the nine dry bulk vessels not yet delivered, is approximately 4.4 million dwt with a weighted average age of 10.40 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