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Home MarketsChartering Diana Shipping Inc. Announces Direct Continuation of Time Charter Contract for m/v DSI Aquila with Western Bulk

Diana Shipping Inc. Announces Direct Continuation of Time Charter Contract for m/v DSI Aquila with Western Bulk

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ATHENS, GREECE, November 2, 2023 – Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Western Bulk Carriers AS, for one of its Ultramax dry bulk vessels, the m/v DSI Aquila. The gross charter rate is US$12,500 per day, minus a 5% commission paid to third parties, for a period until minimum November 10, 2024 up to maximum January 10, 2025. The new charter period is expected to commence on November 12, 2023.

The “DSI Aquila” is a 60,309 dwt Ultramax dry bulk vessel built in 2015.

The employment of “DSI Aquila” is anticipated to generate approximately US$4.49 million of gross revenue for the minimum scheduled period of the time charter.

Upon the completion of the previously announced sale of m/v Boston, Diana Shipping Inc.’s fleet will consist of 40 dry bulk vessels: 4 Newcastlemax, 9 Capesize, 5 Post-Panamax, 6 Kamsarmax, 7 Panamax and 9 Ultramax. As of today, the combined carrying capacity of the Company’s fleet, including the m/v Boston, is approximately 4.7 million dwt with a weighted average age of 10.58 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 and bareboat charter-in of dry bulk vessels. The Company’s vessels are employed primarily on short to medium-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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