Diana Shipping Inc. Announces Signing of a Term Loan Facility With Nordea Bank to Refinance Its Existing Loan With the Bank

Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that on May 7, 2020, it signed a term loan facility with Nordea Bank Abp, filial i Norge (the “Lender”), through eight wholly-owned subsidiaries (the “Borrowers”), in the amount of US$55.848 million, to refinance its existing loan with the Lender of the same balance, so as to extend the repayment of the loan by two more years until March 2022. The Borrowers will have the option to extend the repayment of the facility by two additional years until March 2024, by providing extension requests for each additional year, subject to the acceptance by the Lender at each time.

Diana Shipping Inc.’s fleet currently consists of 41 dry bulk vessels (4 Newcastlemax, 13 Capesize, 5 Post-Panamax, 5 Kamsarmax and 14 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.1 million dwt with a weighted average age of 9.66 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com. Information contained on the Company’s website does not constitute a part of this press release.

About the Company

Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

Corporate Contact:

Ioannis Zafirakis
Director, Interim Chief Financial Officer,
Chief Strategy Officer,
Treasurer and Secretary
Telephone: + 30-210-9470-100
Website: www.dianashippinginc.com

Investor and Media Relations:

Edward Nebb
Comm-Counsellors, LLC
Telephone: + 1-203-972-8350