Diana shipping inc. announces time charter contract

August 26, 2018 – 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 Pacific Bulk Cape Company Limited, Hong Kong, for one of its Capesize dry bulk vessels, the m/v Semirio. The gross charter rate is US$20,050 per day, minus a 5% commission paid to third parties, for a period of minimum ten (10) months to about twelve (12) months. The charter is expected to commence on August 30, 2018.

The m/v Semirio is currently chartered, as previously announced, to Koch Shipping Pte. Ltd., Singapore, at a gross charter rate of US$14,150 per day, minus a 5% commission paid to third parties. The “Semirio” is a 174,261 dwt Capesize dry bulk vessel built in 2007. This employment is anticipated to generate approximately US$6.02 million of gross revenue for the minimum scheduled period of the time charter. Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 22 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.8 million dwt with a weighted average age of 9.0 years.