Diana Shipping Inc. (NYSE:DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that it has entered into a time charter contract with Glencore Grain B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v “Oceanis”. The gross charter rate is US$9,000 per day, minus a 5% commission paid to third parties, for a period of minimum seven (7) months to maximum ten (10) months. The new charter period is expected to commence on June 19, 2014.

The “Oceanis” is a 75,211 dwt Panamax dry bulk vessel built in 2001.

This employment is anticipated to generate approximately US$1.9 million of gross revenue for the minimum scheduled period of the time charter.