ATHENS, Greece, June 20, 2017 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE:DSX) (the “Company”), a global
shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned
subsidiary, it has entered into a time charter contract with Hudson Shipping Lines Incorporated, for one of its Panamax dry bulk
vessels, the m/v Protefs. The gross charter rate is US$7,900 per day, minus a 5% commission paid to third parties, for a period of
minimum twelve (12) months to about fifteen (15) months. The charter is expected to commence on June 23, 2017.
The “Protefs” is a 73,630 dwt Panamax dry bulk vessel built in 2004.
This employment is anticipated to generate approximately US$2.84 million of gross revenue for the minimum
scheduled period of the time charter.
Diana Shipping Inc.’s fleet currently consists of 51 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5
Post-Panamax, 5 Kamsarmax and 23 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.9
million dwt with a weighted average age of 7.89 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.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to
provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives,
goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements
of historical facts.
The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,”
“anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar
expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without limitation, our management’s examination of historical operating
trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were
reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are
difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these
expectations, beliefs or projections.
In addition to these important factors, other important factors that, in our view, could cause actual results to
differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies,
general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping
capacity, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels,
availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory
authorities, potential liability from pending or future litigation, general domestic and international political conditions,
potential disruption of shipping routes due to accidents or political events, vessel breakdowns and instances of off-hires and
other factors. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these and other
risks and uncertainties.
Corporate Contact: Ioannis Zafirakis Director, Chief Operating Officer and Secretary Telephone: + 30-210-9470-100 Email: izafirakis@dianashippinginc.com Website: www.dianashippinginc.com Investor and Media Relations: Edward Nebb Comm-Counsellors, LLC Telephone: + 1-203-972-8350 Email: enebb@optonline.net
