Diana Shipping, Clearlake Extend Charter

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that it has agreed to extend the present time charter contract with Clearlake Shipping Pte. Ltd., Singapore, for one of its Kamsarmax dry bulk vessels, the m/v Myrsini. The gross charter rate will remain $15,500 (USD) per day, minus a 4.75% commission paid to third parties, for a period of up to minimum February 15, 2015 to maximum May 10, 2015. The new charter period is expected to commence by mid- February 2014.

The Myrsini is a 82,117-dwt Kamsarmax dry bulk vessel built in 2010.

This employment is anticipated to generate approximately $5.6 million of gross revenue for the minimum scheduled period of the charter extension.

Diana Shipping Inc.'s fleet currently consists of 36 dry bulk vessels (two Newcastlemax, 10 Capesize, thre Post-Panamax, three Kamsarmax and 18 Panamax). The company also expects to take delivery of two newbuilding Ice Class Panamax dry bulk vessels during the first quarter of 2014 as well as two newbuilding Newcastlemax dry bulk vessels and one Kamsarmax dry bulk vessel during the second quarter of 2016. As of today, the combined carrying capacity of our fleet, excluding the five vessels not yet delivered, is approximately 4.1 million dwt with a weighted average age of 6.66 years.

dianashippinginc.com