Diana Transport Inc. Announces Administration Succession

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ATHENS, Greece, Feb. 22, 2021 (World NEWSWIRE) — Diana Delivery Inc. (NYSE: DSX), (the “Company”), a world-wide transport enterprise specializing in the ownership of dry bulk vessels, nowadays introduced that its Board of Directors has authorised a sequence of senior management appointments meant to supply for an orderly succession and to ensure the ongoing seem strategic management of the Company. The administration appointments explained below will be successful as of March 1, 2021. The appointments were being designed by the unanimous conclusion of the Board of Administrators.

Ms. Semiramis Paliou has been appointed Main Government Officer of the Organization. Appropriately, she will no extended serve in her earlier positions as Main Working Officer and Deputy Main Executive Officer.

Mr. Simeon Palios’ position as Chairman of the Board of Directors remains unchanged. He will provide in these capability as non-government Chairman when the Main Govt Officer position is assumed by Ms. Paliou. In relationship with this alter, the Board of Administrators identified the immeasurable contributions of Mr. Palios since the founding of the Company.

Mr. Anastasios Margaronis will keep on to provide in his latest potential as President and a Director of the Firm, positions he has held considering the fact that 2005.

Mr. Ioannis Zafirakis has been appointed Main Monetary Officer on a long lasting foundation. He had served in that job on an interim foundation since February 2020. Mr. Zafirakis also will continue being the Chief Tactic Officer, Treasurer and Secretary of the Enterprise.

Mr. Eleftherios Papatrifon has joined the Business and has been appointed to the placement of Chief Functioning Officer.

Commenting on the appointments, the Company’s Chairman, Mr. Simeon Palios, said:

“The Board of Administrators has recognized the significance of giving an orderly and seamless succession, which will be certain that we have the senior management in place to carry on the strategic vision and audio management of the Enterprise for the long term. Ms. Semiramis Paliou has obviously shown her strong qualifications for her new position as Chief Executive Officer. She has a deep know-how and knowledge of the shipping and delivery field and our Company. In individual, she has served admirably as Deputy Main Government Officer due to the fact October 2019, a period when our Organization and field confronted the unprecedented troubles of the COVID-19 pandemic. I have terrific self confidence in the energy and continuity of the overall Diana Shipping and delivery Inc. management staff.”

Ms. Semiramis Paliou, incoming Main Govt Officer, mentioned:

“It is an honor to have been appointed by the Board of Directors to the Main Executive Officer posture, and I am grateful for the have faith in and self-confidence that have been put in me. I look forward to leading the Business by the demanding and rapidly transforming shipping environment, and to keeping Diana Shipping and delivery Inc.’s posture as a chief in our industry. In accomplishing so, I hugely benefit and count on the expertise and assistance of our outstanding management group, which includes our Chairman, Mr. Simeon Palios, and my fellow executives Mr. Anastasios Margaronis, Mr. Ioannis Zafirakis, and Mr. Eleftherios Papatrifon, the new addition to our workforce.”

About the Administration Group

Ms. Semiramis Paliou has served as a Director of the Enterprise due to the fact March 2015, Deputy Chief Govt Officer given that Oct 2019, and Chief Functioning Officer given that August 2018. From November 2018 to February 2020, Ms. Paliou also served as Chief Functioning Officer of Performance Shipping and delivery Inc. She has around 20 years of experience in shipping and delivery operations, technical management and crewing, getting begun her profession at Lloyd’s Sign up of Shipping in 1996 as a trainee ship surveyor. During her occupation, she has served as the Head of the Operations, Specialized and Crew division of Diana Shipping Providers S.A. and later served as Vice President of that business. Ms. Paliou obtained her BSc in Mechanical Engineering from Imperial College, London, and her MSc in Naval Architecture from College College or university, London, and also has finished classes in Finance for Senior Executives and Genuine Chief Growth at Harvard Organization School. Since March 2018, Ms. Paliou has served on the board of directors of the Hellenic Maritime Ecosystem Safety Association (HELMEPA) and in June 2020 was appointed President of the Affiliation.

Mr. Anastasios Margaronis has served as President and a Director of Diana Shipping Inc. considering the fact that February 2005. He is also Deputy President of Diana Transport Services S.A., where by he serves as a Director and Secretary. He joined Diana Shipping and delivery Agencies S.A. in 1979. From January 2010 to February 2020 he also served as Director and President of Performance Shipping Inc. Mr. Margaronis has deep encounter in the shipping sector, which includes ship finance and insurance coverage. He is a member of the Greek Nationwide Committee of the American Bureau of Shipping and delivery and was a member of the board of administrators of the United Kingdom Mutual Steam Ship Assurance Association (Europe) Restricted from October 2005 to Oct 2019. He retains a bachelor’s degree in Economics from the College of Warwick and a master’s of science diploma in Maritime Legislation from the Wales Institute of Science and Engineering.

Mr. Ioannis Zafirakis has served as a Director and Secretary of the Organization considering that February 2005 and has held various government positions these kinds of as Chief Approach Officer, Main Working Officer, Executive Vice President and Vice President. In February 2020, Mr. Zafirakis was named Interim Main Financial Officer and Treasurer of Diana Shipping Inc. In addition, Mr. Zafirakis is at present the Interim Chief Financial Officer and Main Method Officer of Diana Transport Services S.A., where he also serves as Director and Treasurer. From June 1997 to February 2005, Mr. Zafirakis was employed by Diana Delivery Companies S.A., exactly where he held a variety of positions in finance and accounting. From January 2010 to February 2020 he served as Director and Secretary and he held many government positions this sort of as Chief Functioning Officer and Chief Method Officer of Efficiency Shipping Inc. Mr. Zafirakis is a member of the Business enterprise Advisory Committee of the Shipping Programs of ALBA Graduate Business enterprise Faculty at The American College or university of Greece. He retains a bachelor’s degree in Enterprise Experiments from City College Business School in London and a master’s degree in Worldwide Transportation from the University of Wales in Cardiff.

Mr. Eleftherios Papatrifon was most a short while ago the Chief Executive Officer, Co-Founder and Director of Quintana Transport Ltd, a provider of dry bulk delivery solutions, from 2010 right up until the company’s thriving sale of assets and consequent liquidation in 2017. Earlier, for a time period of approximately six years, he served as the Main Monetary Officer and a Director of Excel Maritime Carriers Ltd. Prior to that, Mr. Papatrifon served for close to 15 years in a range of corporate finance and asset administration positions, the two in the US and Greece. He retains equally a BBA and an MBA from Baruch University of the Town College of New York and is a member of the CFA Institute and a CFA constitution holder.

About the Business

Diana Transport Inc. is a world provider of shipping and delivery transportation products and services by its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium to lengthy-phrase time charters and transportation a variety of dry bulk cargoes, which includes this kind of commodities as iron ore, coal, grain and other resources together all over the world delivery routes.

Cautionary Statement Regarding Ahead-Searching Statements

Matters mentioned in this push release could represent ahead-on the lookout statements. The Non-public Securities Litigation Reform Act of 1995 presents secure harbor protections for forward-searching statements in purchase to stimulate companies to give possible info about their organization. Ahead-looking statements contain statements about options, objectives, goals, methods, future situations or effectiveness, and underlying assumptions and other statements, which are other than statements of historic information.

The Corporation desires to choose benefit of the risk-free harbor provisions of the Private Securities Litigation Reform Act of 1995 and is which include this cautionary assertion in connection with this protected harbor laws. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and very similar expressions discover ahead-wanting statements.

The forward-looking statements in this push release are dependent on several assumptions, lots of of which are primarily based, in transform, on even further assumptions, including with no limitation, Corporation management’s assessment of historic working traits, facts contained in the Company’s documents and other knowledge obtainable from third events. While the Business thinks that these assumptions have been fair when made, since these assumptions are inherently subject matter to considerable uncertainties and contingencies that are hard or not possible to predict and are beyond the Company’s control, the Company can’t guarantee you that it will realize or achieve these expectations, beliefs or projections.

In addition to these critical elements, other vital aspects that, in the Company’s see, could lead to real benefits to differ materially from people talked over in the ahead-hunting statements contain the severity, magnitude and period of the COVID-19 pandemic, together with impacts of the pandemic and of businesses’ and governments’ responses to the pandemic on our functions, staff, and on the demand from customers for seaborne transportation of bulk solutions the toughness of entire world economies and currencies, standard current market problems, which includes fluctuations in constitution rates and vessel values, changes in demand for dry bulk transport capacity, adjustments in the Company’s functioning fees, which includes bunker prices, drydocking and insurance expenses, the market for the Company’s vessels, availability of financing and refinancing, alterations in governmental principles and laws or steps taken by regulatory authorities, opportunity liability from pending or potential litigation, standard domestic and global political ailments, possible disruption of shipping routes owing to accidents or political occasions, vessel breakdowns and circumstances of off-hires and other factors. Be sure to see the Company’s filings with the U.S. Securities and Trade Commission for a much more entire dialogue of these and other risks and uncertainties. The Business undertakes no obligation to revise or update any ahead-searching statement, or to make any other ahead-searching statements, whether as a consequence of new details, long term situations or or else.

Corporate Speak to:
Ioannis Zafirakis
Director, Interim Chief Economical Officer,
Main Strategy Officer, Treasurer and Secretary
Telephone: + 30-210-9470-100
Email: [email protected]
Internet site: www.dianashippinginc.com

Trader and Media Relations:
Edward Nebb
Comm-Counsellors, LLC
Phone: + 1-203-972-8350
Electronic mail: [email protected]

Resource: Diana Shipping and delivery Inc. c/o Diana Transport Products and services S.A.