Supporting Strategic Growth: A Key Contributor to Diana Shipping Inc.'s Success

It is with great pride that we share Diana Shipping Inc., under the leadership of our CEO, Mrs. Semiramis Paliou, has been honored as the Dry Cargo Company of the Year at the 2023 Lloyd’s List Greek Shipping Awards. The award was received by our founder, Mr. Simeon Palios, and recognizes our holding company’s financial strength, visionary strategic investments and operational excellence.

As a wholly owned ship management subsidiary, Diana Shipping Services S.A. has been instrumental in supporting Diana Shipping Inc.’s continued growth and success. Our comprehensive ship management services have been crucial in executing strategic initiatives, including Diana Shipping Inc.'s expansion into the ultramax segment with the acquisition of the Sea Trade Holdings fleet in August 2023. This significant deal, valued at $330 million, enabled our holding company to diversify its fleet and mark its debut in the ultramax dry bulk market.

Additionally, we played a vital role in Diana Shipping Inc.'s commitment to a decarbonized future. Through our diligent management, we helped facilitate the procurement of two methanol dual-fuel Kamsarmax newbuildings, scheduled for delivery in 2027 and 2028, and supported the company's entry into the offshore wind sector with a joint venture for commissioning service operation vessels (CSOVs).

This award reflects not only Diana Shipping Inc.'s strategic vision but also our dedicated contribution to their success. We extend our heartfelt gratitude to our employees, partners, and stakeholders, whose continued support drives our commitment to operational excellence and future growth.