Diana Shipping Announces Delivery of Capesize Bulk Carrier M/V New York and Commencement of Time Charter Contract With Nippon Yusen Kaisha

Thursday, Mar 04, 2010

Diana Shipping Inc., a global shipping transportation company specializing in dry bulk cargoes, announced today that the Company took delivery of the newly-built m/v New York, a 177,773 dwt Capesize dry bulk carrier built by Shanghai Waigaoqiao Shipbuilding Co. Ltd on March 1, 2010.

As previously announced, the New York is chartered to Nippon Yusen Kaisha for a minimum fifty eight (58) to a maximum sixty two (62) month period at a gross rate of US$48,000 per day. The charter commenced today.

During the minimum period, this employment is expected to generate gross revenues of approximately US$84 million.

About the Company

Diana Shipping Inc. is a global provider of shipping transportation services. The Company specializes in transporting dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

Source: Diana Shipping