Diana Shipping Delays Newcastlemax Delivery

Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through two separate wholly-owned subsidiaries, it signed two addenda with China Shipbuilding Trading Company, Limited and Jiangnan Shipyard (Group) Co., Ltd., to extend the delivery dates of the two Newcastlemax dry bulk carriers, Hull No. H2548 and Hull No. H2549. The delivery date of the Hull No. H2548  has been extended from September 29, 2016 to not earlier than December 26, 2016 and not later than December 30, 2016 while the delivery date of the Hull No. H2549 has been extended from November 30, 2016 to not earlier than March 13, 2017 and not later than March 20, 2017. Both addenda are subject to the construction completion of the vessels.
 
Excluding the aforementioned vessels, Diana Shipping Inc.’s fleet currently consists of 46 dry bulk vessels (2 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 23 Panamax). The Company also expects to take delivery of one new-building Kamsarmax dry bulk vessel during the fourth quarter of 2016. As of today, the combined carrying capacity of the Company’s fleet, excluding the three vessels not yet delivered, is approximately 5.2 million dwt with a weighted average age of 7.9 years.