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

Athens, Greece - April 8, 2019

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 Uniper Global Commodities SE, Düsseldorf, for one of its Post-Panamax dry bulk vessels, the m/v Phaidra. The gross charter rate is US$10,800 per day, minus a 5% commission paid to third parties, for a period of about fourteen (14) months to about sixteen (16) months. The new charter period is expected to commence on April 11, 2019.

The “Phaidra” is a 87,146 dwt Post-Panamax dry bulk vessel built in 2013.

This employment is anticipated to generate approximately US$4.37 million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sale of one Panamax dry bulk vessel, the m/v Dione, Diana Shipping Inc.’s fleet will consist of 46 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 18 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Dione, is approximately 5.6 million dwt with a weighted average age of 9.19 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