Diana Shipping Inc. announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A. for one of its Capesize dry bulk vessels, the m/v Houston. The gross charter rate is USD 5,150 per day, minus a 5% commission paid to third parties, for a period of minimum eleven months to maximum fourteen months. The charter is expected to commence on January 30, 2016.

This employment is anticipated to generate approximately USD 1.7 million of gross revenue for the minimum scheduled period of the time charter. The Company also expects to take delivery of one new-building Newcastlemax dry bulk vessel during the third quarter of 2016 as well as one new-building Newcastlemax dry bulk vessel and one new-building Kamsarmax dry bulk vessel during the fourth quarter of 2016.