Diana Fixes Bulker with Quadra

Diana Shipping Inc. today announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Quadra Commodities S.A., Geneva, for one of its Kamsarmax dry bulk vessels, the m/v Medusa. The gross charter rate is US$6,300 per day, minus a 5% commission paid to third parties, for a period of up to minimum March 15, 2017 to maximum July 30, 2017. The charter commenced yesterday.

The “Medusa” is a 82,194 dwt Kamsarmax dry bulk vessel built in 2010.

This employment is anticipated to generate approximately US$2.15 million of gross revenue for the minimum scheduled period of the time charter.
 
Diana Shipping Inc.expects to take delivery of one Panamax dry bulk vessel by the end of April 2016, one new-building Newcastlemax dry bulk vessel during the third quarter of 2016, as well as one new-building Newcastlemax dry bulk vessel and one new-building Kamsarmax dry bulk vessel during the fourth quarter of 2016. Diana Shipping's combined carrying capacity of the Company’s fleet, excluding the four vessels not yet delivered, is approximately 5.2 million dwt with a weighted average age of 7.5 years.