Diana Shipping Inc. Announces Time Charter Contract for m/v Semirio With C Transport Inc.

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, 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 Capesize dry bulk vessels, the m/v Semirio. The gross charter rate is US$19,700 per day, minus a 5% commission paid to third parties, for a period until minimum August 15, 2023 up to maximum November 15, 2023. The charter is expected to commence on December 9, 2021. The m/v Semirio is currently chartered, as previously announced, to SwissMarine Pte Ltd., Singapore, at a gross charter rate of US$13,500 per day, minus a 5% commission paid to third parties.

The “Semirio” is a 174,261 dwt Capesize dry bulk vessel built in 2007.

The employment of “Semirio” is anticipated to generate approximately US$11.94 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, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 10 Panamax). The Company also expects to take delivery of one Kamsarmax dry bulk vessel by the end of February 2022. As of today, the combined carrying capacity of the Company’s fleet, excluding the one vessel not yet delivered, is approximately 4.6 million dwt with a weighted average age of 10.69 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.