Diana Shipping Inc. Announces Time Charter Contracts for m/v Newport News with NYK Line and m/v Ismene with Paralos Shipping

Athens, Greece - September 11, 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 Nippon Yusen Kabushiki Kaisha, Tokyo, for one of its Newcastlemax dry bulk vessels, the m/v Newport News. The gross charter rate is US$20,000 per day, minus a 5% commission paid to third parties, for a period until minimum March 10, 2025 up to maximum June 10, 2025. The charter is expected to commence during the second half of September 2023.

The "Newport News" is a 208,021 dwt Newcastlemax dry bulk vessel built in 2017.

The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Paralos Shipping Pte. Ltd., Singapore, for one of its Panamax dry bulk vessels, the m/v Ismene. The gross charter rate is US$12,650 per day, minus a 5% commission paid to third parties, for a period until minimum April 15, 2025 up to maximum June 30, 2025. The charter is expected to commence on September 14, 2023.

The "Ismene" is a 77,901 dwt Panamax dry bulk vessel built in 2013.

The employments of "Newport News" and "Ismene" are anticipated to generate approximately US$17.80 million of gross revenue for the minimum scheduled period of the time charters.

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. As of today, the combined carrying capacity of the Company's fleet is approximately 4.7 million dwt with a weighted average age of 10.44 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.


The 2017-built 208,021-dwt Newcastlemax dry bulk vessel "Newport News".   Image by Diana Shipping Inc.

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