Diana Shipping Inc. has entered into a time charter contract with China National Chartering Corp., or Sinochart,
Beijing for one of its Panamax dry bulk carriers, the Thetis, at a gross rate of $60,250 per day for a minimum 11 to a maximum 13 month period.
This employment is anticipated to generate approximately US$19.9
million of gross revenues for the minimum scheduled period of the charter.
The charter is expected to commence in early October, 2007.