Diana Shipping Inc. Announces Time Charter Contract for m/v DSI Pollux with Delta

Athens, Greece - October 27, 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 Delta Corp Shipping Pte. Ltd., for one of its Ultramax dry bulk vessels, the m/v DSI Pollux.

The gross charter rate is US$17,000 per day, minus a 5% commission paid to third parties, for a period of minimum fourteen (14) months to maximum sixteen (16) months. The charter commenced earlier today.

The "DSI Pollux" is a 60,446 dwt Ultramax dry bulk vessel built in 2015.

The employment of "DSI Pollux" is anticipated to generate approximately US$7.14 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.'s fleet currently consists of 36 dry bulk vessels (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax, 8 Panamax and 2 Ultramax). The Company also expects to take delivery of 7 Ultramax dry bulk vessels in the fourth quarter of 2022. As of today, the combined carrying capacity of our fleet, excluding the 7 Ultramax dry bulk vessels not yet delivered, is approximately 4.5 million dwt with a weighted average age of 10.33 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.

Diana Shipping Inc. press release