Diana Shipping Inc. Announces Direct Continuation of Time Charter Contract for m/v Electra with Uniper

Athens, Greece - October 23, 2018

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 agreed to extend the present time charter contract with Uniper Global Commodities SE, Düsseldorf, for one of its Post-Panamax dry bulk vessels, the m/v Electra. The gross charter rate is US$13,500 per day, minus a 5% commission paid to third parties, for a period until minimum September 15, 2019 and maximum December 15, 2019. The new charter period commenced on October 19, 2018. The m/v Electra was chartered, as previously announced, at a gross charter rate of US$8,000 per day, minus a 5% commission paid to third parties.

The “Electra” is a 87,150 dwt Post-Panamax dry bulk vessel built in 2013.

The employment extension of “Electra” is anticipated to generate approximately US$4.40 million of gross revenue for the minimum scheduled period of the time charter extension.

Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 22 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.8 million dwt with a weighted average age of 9.17 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 of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-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