Diana Shipping Acquires Kamsarmax Dry Bulk Carrier

(Press Release)
Thursday, February 14, 2013

Diana Shipping Inc.  (NYSE:DSX),  was the  successful bidder at an auction that took place in France, for the m/v Valeria Della Gatta (to be renamed Maia), a 2009-built Kamsarmax dry  bulk carrier of 82,193 dwt, built by Tsuneishi Shipbuilding Co. Ltd.,  Japan, for a purchase price of EURO14.755 million.
 Separately, the Company also announced that it has entered into a time  charter contract with ADM International Sarl, Rolle, Switzerland,  through a separate wholly-owned subsidiary, for one of its  Post-Panamax dry bulk carriers, the m/v Alcmene. The gross charter  rate is US$7,250 per day, minus a 5% commission paid to third parties,
 for a period of about eighteen (18) months to maximum twenty-four (24)  months. The charter is expected to commence on February 23, 2013.
 The Alcmene is a 93,193 dwt Post-Panamax dry bulk vessel built in 2010.

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