Diana Shipping Inc. announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd. for one of its Capesize dry bulk vessels, the m/v P. S. Palios. The gross charter rate is USD 10,550 per day, minus a 5% commission paid to third parties, for a period of minimum twelve months to about sixteen months. The charter is expected to commence on January 21, 2017. Additionally, the Company announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Cargill International S.A. for one of its Kamsarmax dry bulk vessels, the m/v Myrto, for a period of minimum twelve months to maximum fifteen months. The gross charter rate is USD 8,000 per day, minus a 4.75% commission paid to third parties. The new charter period is expected to commence on January 16, 2017. The employment of “P. S. Palios” as well as the employment extension of “Myrto” are anticipated to generate approximately USD 6.68 million of gross revenue for the minimum scheduled period of the time charters.