ATHENS, Greece, Sept. 27, 2018 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX) (the “Company”), a global
shipping company specializing in the ownership of dry bulk vessels, today announced that on September 27, 2018, it closed its
previously-announced US$100 million private placement of senior unsecured bonds maturing in September 2023. The Company also
announced today that it is exercising its option to redeem all of its outstanding 8.50% Senior Notes due 2020 (NYSE: DSXN) (CUSIP
No. Y2066G120) (the “Notes”), of which an aggregate principal amount of approximately US$63.25 million is currently outstanding.
The redemption date will be October 29, 2018. The redemption price will be 100% of the principal amount of the
Notes, or US$25.00 per Note, plus accrued and unpaid interest to, but excluding, the date of redemption. Following the redemption,
the Notes will be delisted from the New York Stock Exchange.
Payment of the redemption price and surrender of the Notes for redemption will be made through the facilities of
the Depository Trust Company in accordance with the applicable procedures of the Depository Trust Company. The name and address of
the paying agent are Deutsche Bank Trust Company Americas, 60 Wall Street, New York, NY 10005.
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, Company management’s examination of historical operating
trends, data contained in the Company’s records and other data available from third parties. Although the Company believes that
these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and
contingencies that are difficult or impossible to predict and are beyond the Company’s control, the Company cannot assure you that
it will achieve or accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that, in the Company’s 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 the Company’s operating expenses, including bunker prices, drydocking and insurance costs, the market
for the Company’s 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 the Company’s filings with the U.S. Securities and Exchange Commission for a more
complete discussion of these and other risks and uncertainties. The Company undertakes no obligation to revise or update any
forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events
or otherwise.
Corporate Contact: Ioannis Zafirakis Director, Chief Strategy 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
