Diana Shipping in TC contract with SwissMarine for m/v G. P. Zafirakis

Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, on Dec. 28 announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v  G. P. Zafirakis. The gross charter rate is US$17,000 per day, minus a 5% commission paid to third parties, for a period of minimum seventeen (17) months to maximum twenty (20) months. The charter is expected to commence on January 2, 2019. The m/v G. P. Zafirakis is currently chartered, as previously announced, to RWE Supply & Trading GmbH, Essen, Germany, at a gross charter rate of US$15,000 per day, minus a 5% commission paid to third parties.

The “G. P. Zafirakis” is a 179,492 dwt Capesize dry bulk vessel built in 2014.

This employment is anticipated to generate approximately US$8.67 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, 5 Post-Panamax, 5 Kamsarmax and 20 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 9.12 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.