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 Cargill International S.A., Geneva, through a separate wholly-owned subsidiary, for one of its Panamax dry bulk vessels, the m/v Clio. The gross charter rate is US$8,600 per day, minus a 4.75% commission paid to third parties, for a period of minimum twenty-one months to maximum twenty-four months. The charter is expected to commence on August 22, 2013.

The Clio is a 73,691 dwt Panamax dry bulk vessel built in 2005. This employment is anticipated to generate approximately US$5.4 million of gross revenue for the minimum scheduled period of the charter.