Diana Shipping Inc. Announces Signing And Drawdown of a US$100 Million Term Loan Facility with Danish Ship Finance A/S to Refinance Existing Loan Facilities

Athens, Greece - April 20, 2023

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 April 12, 2023, it signed a term loan facility with Danish Ship Finance A/S for up to US$100 million with maturity date in April 2028. Yesterday, it concluded the drawdown of US$100 million, secured by nine vessels.

The proceeds from the loan facility refinanced other loan facilities with an aggregate outstanding amount of approximately US$87 million, namely two existing loan facilities with BNP Paribas of approximately US$75.2 million (maturity dates in July 2023 and in May 2024) and another loan facility with DNB Bank ASA of approximately US$11.8 million (maturity date in March 2024) related to the same nine vessels.

The remaining proceeds may be used to pay transaction costs and expenses incurred in connection with the loan agreement and/or general corporate purposes.

Diana Shipping Inc.'s fleet currently consists of 42 dry bulk vessels (4 Newcastlemax, 10 Capesize, 5 Post-Panamax, 6 Kamsarmax, 7 Panamax and 10 Ultramax).

As of today, the combined carrying capacity of the Company's fleet, is approximately 4.7 million dwt with a weighted average age of 10.0 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