Diana Shipping Inc. Announces Time Charter Contract for m/v Selina with Cargill

Athens, Greece - May 22, 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, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Panamax dry bulk vessels, the m/v Selina.

The gross charter rate is US$12,000 per day, minus a 4.75% commission paid to third parties, for a period until minimum September 15, 2024 up to maximum November 15, 2024. The charter commenced on May 20, 2023.

The "Selina" is a 75,700 dwt Panamax dry bulk vessel built in 2010.

The employment of "Selina" is anticipated to generate approximately US$5.71 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, 10 Capesize, 5 Post-Panamax, 6 Kamsarmax, 7 Panamax and 9 Ultramax), and a partial interest through a joint venture arrangement in one additional 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 10.09 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.


The 75,700 dwt, 2010-built Panamax dry bulk carrier "Selina".
Image by Diana Shipping Inc.


Diana Shipping Inc. press release