Diana Shipping Orders Dry Bulk Vessel for 2016

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, signed, through a separate wholly owned subsidiary, a shipbuilding contract with Yangzhou Dayang Shipbuilding Co., Ltd. and Shanghai Sinopacific International Trade Co., Ltd., for the construction of a Kamsarmax dry bulk vessel of approximately 82,000 dwt for a contract price of $28,824,900.The company expects to take delivery of the vessel during the second quarter of 2016.

Excluding the aforementioned vessel, as well as two new-building Ice Class Panamax dry bulk vessels expected to be delivered to the company during the first quarter of 2014 and two newbuilding Newcastlemax dry bulk vessels expected to be delivered to the Company during the second quarter of 2016, Diana Shipping Inc.'s fleet currently consists of 36 dry bulk vessels (two Newcastlemax, 10 Capesize, three Post-Panamax, three Kamsarmax and 18 Panamax). 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 6.61 years.

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