Diana Shipping Inc. announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Phaethon International Company AG, for one of its Panamax dry bulk vessels, the m/v Ismene. The gross charter rate is $10,800 per day, minus a 5% commission paid to third parties, for a period of minimum thirteen (13) months to about fifteen (15) months. The charter is expected to commence on January 11, 2020. The “Ismene” is a 77,901 dwt Panamax dry bulk vessel built in 2013. This employment is anticipated to generate approximately $4.21 million of gross revenue for the minimum scheduled period of the time charter. Upon completion of the previously announced sale of one Panamax dry bulk vessel, the m/v Calipso, Diana Shipping Inc.’s fleet will consist of 41 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 13 Panamax). As of now, the combined carrying capacity of the Company’s fleet is approximately 5.2 million dwt with a weighted average age of 9.56 years.