Diana Shipping Inc. 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 $12,750 per day minus a 5% commission paid to third parties, for a period of minimum twelve months to maximum fifteen 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. The company'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.