Diana Charters Semirio to Cargill

Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, announced it has entered into a time charter contract with Cargill International S.A., Geneva, through a separate wholly-owned subsidiary, for one of its Capesize dry bulk carriers, the m/v Semirio. The gross charter rate is U.S. $14,000 per day, minus a 4.75% commission paid to third parties for a minimum period of 22 months to maximum twenty-seven 27 months. The charter is expected to commence on March 21, 2013. The Semirio is a 174,261 dwt Capesize dry bulk vessel built in 2007. This employment is anticipated to generate approximately U.S. $9.24 million of gross revenue for the minimum scheduled period of the charter.

Diana Shipping Inc.'s fleet currently consists of 32 dry bulk carriers (17 Panamax, 2 Kamsarmax, 3 Post-Panamax, 8 Capesize and 2 Newcastlemax), as well as two new-building Ice Class Panamax vessels expected to be delivered to the Company during the fourth quarter of 2013. The combined carrying capacity of our current fleet, excluding the two vessels not yet delivered, is approximately 3.5
million dwt with a weighted average age of six years.

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