Diana Shipping Inc. Announces Time Charter Agreement for m/v

ATHENS, Greece, March 22, 2022 (GLOBE NEWSWIRE) — Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk carriers, today announced that, through through a separate wholly-owned subsidiary, it entered into a time charter agreement with Engelhart CTP Freight (Switzerland) SA, for one of its Capesize dry bulk carriers, the m/v New Orleans. The gross charter rate is USD 32,000 per day, less 5% commission paid to third parties, for a period from 20 November 2023 minimum to 31 January 2024 maximum. Charter is scheduled to commence March 25, 2022. The m/v New Orleans is currently chartered, as previously announced, to Nippon Yusen Kabushiki Kaisha at a gross charter rate of USD 15,500 per day less a 5% commission paid to third parties.

The “New Orleans” is a Capesize dry bulk carrier of 180,960 dwt built in 2015.

The “New Orleans” job is expected to generate approximately $19.04 million in gross revenue for the minimum expected time charter period.

The Diana Shipping Inc. fleet currently consists of 34 bulk carriers (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax and 8 Panamax). The company also expects to take delivery of a new Capesize dry bulk vessel by March 29, 2022. To date, the combined carrying capacity of the company’s fleet, excluding the yet to be delivered vessel, is approximately 4.4 million dwt with a weighted average age of 10.57 years. A chart outlining Diana Shipping Inc.’s current fleet can be found on the company’s website, www.dianshippinginc.com. Information contained on the Company’s website does not form part of this press release.

About the company

Diana Shipping Inc. is a global provider of shipping services through its ownership of dry bulk carriers. The Company’s vessels are primarily employed for short to medium term charters and carry a range of dry bulk cargoes including commodities such as iron ore, coal, grain and other materials along global shipping routes.

Caution Regarding Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements to encourage companies to provide forward-looking information about their businesses. Forward-looking statements include statements regarding future plans, objectives, goals, strategies, events or performance, as well as underlying assumptions and other statements, that are other than statements of historical fact.

The Company wishes to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and includes this disclaimer as part of such safe harbor legislation. The words “believe”, “anticipate”, “intend”, “estimate”, “anticipate”, “project”, “plan”, “potential”, “may”, “should”, “expect to”, “pending” and similar expressions identify forward-looking statements.

The forward-looking statements contained in this press release are based on various assumptions, many of which are based, in turn, on other assumptions, including, without limitation, the company’s management’s review of trends historical operating records, data contained in company records and other available data. of third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company’s control, the Company does not cannot assure you that it will meet or achieve these expectations. , beliefs or projections.

In addition to these important factors, other important factors that the Company believes could cause actual results to differ materially from those discussed in the forward-looking statements include the severity, magnitude and duration of the COVID-19 pandemic, including the impacts of the pandemic and of business and government responses to the pandemic on our operations, our people and on demand for bulk shipping; the strength of global economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in shipping costs, Company’s operations, including bunker prices, dry docking and insurance costs, the market for the Company’s vessels, the availability of financing and refinancing, changes in government rules and regulations or actions taken by regulatory authorities, potential liability arising from pending or future litigation, general national and international political conditions, potential disruption of shipping routes due to accidents or political events, vessel breakdowns and cases of non-hiring and other factors. Please see the Company’s filings with the United States Securities and Exchange Commission for a fuller discussion of these and other risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statement, whether as a result of new information, future events or otherwise.


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