Diana Shipping Inc. has entered into a time charter contract with Glencore Grain B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Melite. The gross charter rate is $7,250 per day minus a 5% commission paid to third parties, for a period of minimum eight (8) months to maximum twelve (12) months. The charter is expected to commence on January 30, 2015.