Diana’s latest fixtures with RWE and Bunge

Chartering, Dry Bulkcarriers, Markets, Ocean Shipping, Stock Markets — By on July 6, 2015 at 2:00 PM

sideris GS FUNNELDIANA SHIPPING INC. ANNOUNCES A NEW TIME CHARTER AGREEMENT FOR M/V CORONIS AND DIRECT CONTINUATION OF TIME CHARTER AGREEMENTS FOR M/V P. S. PALIOS WITH RWE AND FOR M/V AMPHITRITE WITH BUNGE 

ATHENS, GREECE, July 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 Sandgate Maritime Ltd for one of its Panamax dry bulk vessels, the m/v Coronis. The gross charter rate is US$6, 500 per day, minus a 5% commission paid to third parties, for a period of minimum nine (9) months to maximum twelve (12) months. The charter commenced on July 3, 2015.

The “Coronis” is a 74, 381 dwt Panamax dry bulk vessel built in 2006.

Additionally, the Company announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with RWE Supply & Trading GmbH, Essen, Germany, for one of its Capesize dry bulk vessels, the m/v P. S. Palios, for a period of up to minimum December 31, 2016 to maximum March 31, 2017. The new gross charter rate is US$13, 000 per day, minus a 5% commission paid to third parties. The new charter period is expected to commence on September 18, 2015.

The “P. S. Palios” is a 179, 134 dwt Capesize dry bulk vessel built in 2013.

The Company also announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Bunge S.A., Geneva, for one of its Post-Panamax dry bulk vessels, the m/v Amphitrite, for a period of about twenty-two (22) months to about twenty-five (25) months. The new gross charter rate is US$7, 700 per day, minus a 5% commission paid to third parties. The new charter period is expected to commence on July 15, 2015.

The “Amphitrite” is a 98, 697 dwt Post-Panamax dry bulk vessel built in 2012.

The new employment of “Coronis, ” as well as the employment extensions of “P. S. Palios” and “Amphitrite, ” are anticipated to generate approximately US$12.73 million of gross revenue for the minimum scheduled period of the time charters.

Diana Shipping Inc.’s fleet currently consists of 41 dry bulk vessels (2 Newcastlemax, 12 Capesize, 3 Post-Panamax, 4 Kamsarmax and 20 Panamax). The Company also expects to take delivery of one new-building Capesize dry bulk vessel during August 2015, one new-building Newcastlemax dry bulk vessel during the second quarter of 2016, as well as  one new-building Kamsarmax dry bulk vessel and one new-building Newcastlemax dry bulk vessel during the third quarter of 2016. As of today, the combined carrying capacity of the Company’s fleet, excluding the four vessels not yet delivered, is approximately 4.7 million dwt with a weighted average age of 7.2 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 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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