Diana Shipping Inc. Announces Time Charter Contract for m/v Philadelphia with C Transport

Athens, Greece - April 13, 2022

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 C Transport Maritime Ltd., Bermuda, for one of its Newcastlemax dry bulk vessels, the m/v Philadelphia.

The gross charter rate is US$26,000 per day, minus a 5% commission paid to third parties, for a period until minimum February 1, 2024 up to maximum April 15, 2024. The charter commenced yesterday.

The “Philadelphia” is a 206,040 dwt Newcastlemax dry bulk vessel built in 2012.

The employment of “Philadelphia” is anticipated to generate approximately US$16.87 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s owned and bareboat chartered-in fleet currently consists of 35 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 6 Kamsarmax and 8 Panamax). As of today, the combined carrying capacity of our fleet is approximately 4.5 million dwt with a weighted average age of 10.21 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 2012-built Newcastlemax dry bulk carrier “Philadelphia”.   Image by Diana Shipping Inc.

Diana Shipping Inc. press release