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Athens, Greece - December 12, 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 extended the time charter contract with SwissMarine Pte Ltd., Singapore, for one of its Post-Panamax dry bulk vessels, the m/v Alcmene. The gross charter rate is US$13,000 per day, minus a 5% commission paid to third parties, for a period until minimum January 10, 2024 up to maximum March 25, 2024. The new charter period is expected to commence on December 27, 2022. The "Alcmene" is a 93,193 dwt Post-Panamax dry bulk vessel built in 2010. The employment of "Alcmene" is anticipated to generate approximately US$4.86 million of gross revenue for the minimum scheduled period of the time charter. Diana Shipping Inc.'s fleet currently consists of 41 dry bulk vessels (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax, 8 Panamax and 7 Ultramax). The Company also expects to take delivery of 2 Ultramax dry bulk vessels in the fourth quarter of 2022. As of today, the combined carrying capacity of the Company's fleet, excluding the 2 Ultramax dry bulk vessels not yet delivered, is approximately 4.8 million dwt with a weighted average age of 10.20 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 
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