Diana Shipping Inc. Announces Time Charter Contract for m/v Boston With Clearlake

Diana Shipping Inc.

, a global shipping company specializing in the ownership and operation of dry bulk vessels, today announced that it has entered into a time charter contract with Clearlake Shipping Pte., Ltd., Singapore, a member of the Gunvor Group, through a separate wholly-owned subsidiary, for one of its Capesize dry bulk carriers, the m/v Boston. The gross charter rate is US$14,250 per day, minus a 4.75% commission paid to third parties, for a period of about twenty-four (24) months to about twenty-nine (29) months. The charter is expected to commence at the end of August 2013. The Boston is a 177,828 dwt Capesize dry bulk vessel built in 2007. This employment is anticipated to generate approximately US$10 million of gross revenue for the minimum scheduled period of the charter.