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Athens, Greece - June 10, 2016 Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Transgrain Shipping B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Thetis. The gross charter rate is US$5,150 per day, minus a 5% commission paid to third parties, for a period of minimum ten (10) months to about thirteen (13) months. The charter is expected to commence on June 16, 2016. The “Thetis” is a 73,583 dwt Panamax dry bulk vessel built in 2004. This employment is anticipated to generate approximately US$1.55 million of gross revenue for the minimum scheduled period of the time charter. Diana Shipping Inc.’s fleet currently consists of 46 dry bulk vessels (2 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 23 Panamax). The Company also expects to take delivery of one new-building Newcastlemax dry bulk vessel during the third quarter of 2016, as well as one new-building Newcastlemax dry bulk vessel and one new-building Kamsarmax dry bulk vessel during the fourth quarter of 2016. As of today, the combined carrying capacity of the Company’s fleet, excluding the three vessels not yet delivered, is approximately 5.2 million dwt with a weighted average age of 7.62 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com Diana Shipping Inc. press release 
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