Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with ASL Bulk Shipping Limited for one of its Kamsarmax dry bulk vessels, the m/v Medusa. The gross charter rate is US$14,250 per day, minus a 5% commission paid to third parties, for a period until minimum February 10, 2025 up to maximum April 15, 2025. The charter commenced yesterday.

The “Medusa” is a 82,194 dwt Kamsarmax dry bulk vessel built in 2010.

The employment of “Medusa” is anticipated to generate approximately US$8.92 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 42 dry bulk vessels (4 Newcastlemax, 10 Capesize, 5 Post-Panamax, 6 Kamsarmax, 7 Panamax and 10 Ultramax). As of today, the combined carrying capacity of the Company’s fleet is approximately 4.7 million dwt with a weighted average age of 10.07 years.

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.

Diana Shipping Inc. press release