Diana Shipping Inc. (NYSE:DSX), (the "Company"), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Classic Maritime Inc., for one of its Capesize dry bulk vessels, the m/v G. P. Zafirakis. The gross charter rate is US$38,000 per day, minus a 5.00% commission paid to third parties, for a period until minimum October 1, 2027 up to maximum December 15, 2027. The charter is expected to commence on October 10, 2026. The m/v G. P. Zafirakis is currently chartered, as previously announced, to Nippon Yusen Kabushiki Kaisha, Tokyo, at a gross charter rate of US$26,800 per day, minus a 5.00% commission paid to third parties.

The "G. P. Zafirakis" is a 179,492 dwt Capesize dry bulk vessel built in 2014.

The employment of "G. P. Zafirakis" is anticipated to generate a total of approximately US$13.34 million of gross revenue for the minimum scheduled period of the time charter.