Diana Shipping Inc. a global shipping company specializing in the ownership and operation of dry bulk vessels, announced that it has entered into a time charter contract with Glencore Grain B.V., Rotterdam, through a separate wholly-owned subsidiary, for one of its Kamsarmax dry bulk carriers, the m/v Maia. The gross charter rate is US$10,900 per day, minus a 5% commission paid to third parties, for a period of about eighteen (18) months to maximum twenty-four months. The charter is expected to commence at the end of February 2013.

The Maia is a 82,193 dwt Kamsarmax dry bulk vessel built in 2009. This employment is anticipated to generate approximately US$5.7 million of gross revenue for the minimum scheduled period of the charter.