LEADING INTERNATIONAL MARITIME MAGAZINE

Diana Shipping Inc. Announces Time Charter Contract for m/v Dione with Caravel

Diana Shipping Inc, a global shipping company specialising in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Caravel Shipping Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Dione, for a period of minimum nine (9) months to about twelve (12) months.

The gross charter rate is US$7,200 per day for the first ninety (90) days of the charter period and US$7,050 per day for the balance period of the time charter, in each case minus a 5% commission paid to third parties. The charter is expected to commence on February 4, 2017.

The “Dione” is a 75,172 dwt Panamax dry bulk vessel built in 2001.

This employment is anticipated to generate approximately US$1.92 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 23 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.7 million dwt with a weighted average age of 7.68 years.