Diana Shipping Inc. announced that, through a separate wholly-owned subsidiary, it has extended the time charter contract with Aquavita International S.A., for one of its Ice Class Panamax dry bulk vessels, the m/v Atalandi. The gross charter rate is US$13,250 per day, minus a 4.75% commission paid to third parties, for a period until minimum March 5, 2024 up to maximum May 5, 2024. The new charter period is expected to commence on February 15, 2023.

The “Atalandi” is a 77,529 dwt Ice Class Panamax dry bulk vessel built in 2014. The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Panamax dry bulk vessels, the m/v Leto. The gross charter rate is US$14,500 per day, minus a 4.75% commission paid to third parties, for a period until minimum March 1, 2024 up to maximum April 30, 2024.

The charter is expected to commence by the end of January of 2023. The “Leto” is a 81,297 dwt Panamax dry bulk vessel built in 2010. The employment extension of “Atalandi” as well as the employment of “Leto” are anticipated to generate approximately USD 10.68 million of gross revenue for the minimum scheduled period of the time charters.

Upon the completion of the previously announced sale of m/v Aliki and the expected delivery of 1 Ultramax dry bulk vessel, Diana Shipping Inc.'s fleet will consist of 42 dry bulk vessels (4 Newcastlemax, 10 Capesize, 5 Post-Panamax, 6 Kamsarmax, 8 Panamax and 9 Ultramax). As of January 26, 2023, the combined carrying capacity of the Company's fleet, excluding the 1 Ultramax dry bulk vessel not yet delivered and including the m/v Aliki, is approximately 4.9 million dwt with a weighted average age of 10.28 years.