Diana Shipping Announces Delivery of the Panamax Dry Bulk Carrier M/V Leto and Commencement of Time Charter Contract With EDF

Diana Shipping Inc.

announced today that the Company yesterday took delivery of the m/v "Leto", (formerly "Vathy"), a 81,297 dwt Panamax dry bulk carrier built in 2010. As previously announced, the Leto is chartered to EDF Trading Ltd., London, at a gross charter rate of US$12,900 per day, minus a 5% commission paid to third parties, for a period of minimum twenty-four (24) months to maximum thirty-four (34) months. The charter commenced today. This employment is anticipated to generate approximately US$93 million of gross revenue for the minimum scheduled period of the charter.