Diana Shipping Announces Time Charter Contracts

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Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Smart Gain Shipping Co., Limited, for one of its Capesize dry bulk vessels, the m/v Santa Barbara.

The gross charter rate is US$21,250 per day, minus a 5% commission paid to third parties, for a period until minimum October 10, 2024 up to maximum December 10, 2024. The charter commenced on May 7, 2023.

The “Santa Barbara” is a 179,426 dwt Capesize dry bulk vessel built in 2015.

The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Aquavita International S.A., for one of its Post-Panamax dry bulk vessels, the m/v Phaidra. The gross charter rate is US$12,250 per day, minus a 4.75% commission paid to third parties, for a period until minimum September 1, 2024 up to maximum November 15, 2024. The charter is expected to commence tomorrow.

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

The employments of “Santa Barbara” and “Phaidra” are anticipated to generate approximately US$16.71 million of gross revenue for the minimum scheduled period of the time charters.

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