Diana Shipping Inc. Announces Time Charter Contract for mv Coronis

ATHENS, GREECE March 4, 2009 – Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the transportation of dry bulk cargoes, today announced that it has entered into a time charter contract with TPC Korea Co., Ltd, Seoul, South Korea, for one of its Panamax dry bulk carriers, the m/v Coronis, at a gross rate of US$14,000 per day for a minimum eleven (11) to a maximum thirteen (13) month period.

This employment is anticipated to generate approximately US$4.6 million of gross revenues for the minimum scheduled period of the charter. The charter is expected to commence during late March 2009.

The m/v Coronis is a 74,381 dwt Panamax dry bulk carrier built in 2006.

About the Company
Diana Shipping Inc. is a global provider of shipping transportation services. The Company specializes in transporting dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

Diana Shipping Inc. press release