Diana Shipping Inc. Announces Delivery of the Ultramax Dry Bulk Vessel m/v DSI Phoenix

Athens, Greece - November 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, through a separate wholly-owned subsidiary, it has taken delivery of the m/v DSI Phoenix (formerly "STH Chiba"), a 2017 built Ultramax dry bulk vessel of 60,456 dwt.

The vessel is one of nine modern Ultramax dry bulk vessels that the Company entered into an agreement to purchase in August 2022.

Including the newly delivered m/v DSI Phoenix, Diana Shipping Inc.'s fleet currently consists of 37 dry bulk vessels (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax, 8 Panamax and 3 Ultramax).

The Company also expects to take delivery of 6 Ultramax dry bulk vessels in the fourth quarter of 2022.

As of today, the combined carrying capacity of our fleet, excluding the 6 Ultramax dry bulk vessels not yet delivered, is approximately 4.6 million dwt with a weighted average age of 10.29 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