Diana Shipping Announces Time Charter Contract For m/v DSI Andromeda With Cargill; Gross Charter Rate Is $14,000 Per Day; Employment Of "DSI Andromeda" Is Anticipated To Generate ~$3.18M Of Gross Revenue For The Minimum Scheduled Period Of The Time Charter

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 Cargill Ocean Transportation (Singapore) Pte. Ltd., for one of its Ultramax dry bulk vessels, the m/v DSI Andromeda. The gross charter rate is US$14,000 per day, minus a 4.75% commission paid to third parties, for a period until minimum November 15, 2025 up to maximum January 15, 2026. The charter is expected to commence on March 29, 2025. The m/v DSI Andromeda is currently chartered, as previously announced, to Bunge SA, Geneva, at a gross charter rate of US$13,500 per day, minus a 5.00% commission paid to third parties.

The "DSI Andromeda" is a 60,309 dwt Ultramax dry bulk vessel built in 2016.

The employment of "DSI Andromeda" is anticipated to generate approximately US$3.18 million of gross revenue for the minimum scheduled period of the time charter.