Diana charters “Alcmene” on period to ADM

Chartering, Company Profiles, Dry Bulkcarriers, Markets, News — By on May 6, 2015 at 6:05 PM

sideris GS FUNNELDIANA SHIPPING INC. ANNOUNCES TIME CHARTER CONTRACT FOR M/V ALCMENE WITH ADM

ATHENS, GREECE, May 6, 2015 – Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly owned subsidiary, it entered into a time charter contract with ADM International Sarl, Rolle, Switzerland, for one of its Post-Panamax dry bulk vessels, the m/v Alcmene. The gross charter rate is US$6, 750 per day minus a 5% commission paid to third parties, for a period of minimum twenty-one (21) months to about twenty-four (24) months. The charter is expected to commence on May 12, 2015.

The “Alcmene” is a 93, 193 dwt Post-Panamax dry bulk vessel built in 2010.

This employment is anticipated to generate approximately US$4.25 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 40 dry bulk vessels (2 Newcastlemax, 12 Capesize, 3 Post-Panamax, 3 Kamsarmax and 20 Panamax). The Company also expects to take delivery of one Kamsarmax dry bulk vessel during the second quarter of 2015, one new-building Capesize dry bulk vessel during August 2015, two new-building Newcastlemax dry bulk vessels and one new-building Kamsarmax dry bulk vessel during the second quarter of 2016. As of today, the combined carrying capacity of the Company’s fleet, excluding the five vessels not yet delivered, is approximately 4.6 million dwt with a weighted average age of 7.1 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.

About the Company

Diana Shipping Inc. is a leading global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

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