Diana Shipping Announces Time Charter Contract For M/v DSI Pegasus With Cargill Ocean Transportation; Gross Charter Rate Is $15,250 Per Day, For A Period Until Minimum June 1, 2025 Up To Maximum August 1, 2025; Anticipated To Generate ~$4.09M Of Gross Revenue

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 Pegasus. The gross charter rate is US$15,250 per day, minus a 4.75% commission paid to third parties, for a period until minimum June 1, 2025 up to maximum August 1, 2025. The charter is expected to commence on September 4, 2024. The m/v DSI Pegasus is currently chartered, as previously announced, to Reachy Shipping (SGP) Pte. Ltd., at a gross charter rate of US$14,000 per day, minus a 5.00% commission paid to third parties.

The "DSI Pegasus" is a 60,508 dwt Ultramax dry bulk vessel built in 2015.

The employment of "DSI Pegasus" is anticipated to generate approximately US$4.09 million of gross revenue for the minimum scheduled period of the time charter.