Diana Shipping Inc. (NYSE:DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with RWE Supply & Trading GmbH, Essen, Germany, for one of its Capesize dry bulk vessels, the m/v Houston. The gross charter rate is US$12,750 per day minus a 5% commission paid to third parties, for a period of minimum twelve (12) months to maximum fifteen (15) months. The charter is expected to commence on January 5, 2015. The “Houston” is a 177,729 dwt Capesize dry bulk vessel built in 2009. This employment is anticipated to generate approximately US$4.59 million of gross revenue for the minimum scheduled period of the time charter. Diana Shipping Inc.‘s fleet currently consists of 39 dry bulk vessels (2 Newcastlemax, 11 Capesize, 3 Post-Panamax, 3 Kamsarmax and 20 Panamax). The Company also expects to take delivery of one new-building Capesize dry bulk vessel by mid-January 2015 as well as two new-building Newcastlemax dry bulk vessels and one new-building Kamsarmax dry bulk vessel during the second quarter of 2016. As of today, the combined carrying capacity of our fleet, excluding the four vessels not yet delivered, is approximately 4.4 million dwt with a weighted average age of 7.06 years.