Diana Shipping Inc. Announces New Loan Agreement With Bremer Landesbank

ATHENS, GREECE, November 13, 2009 - Diana Shipping Inc. (NYSE:DSX), a global shipping transportation company specializing in dry bulk cargoes, today announced that it has signed a 10 year term loan agreement with Bremer Landesbank Kreditanstalt Oldenburg-Girozentrale- for a secured term loan of $40 million, which the Company has drawn down yesterday to finance part of the total cost of buying the vessel m/v Houston.

The Company, as announced on November 9, 2009, has already taken delivery of the m/v Houston, a 177,729 dwt Capesize dry bulk carrier built jointly by Shanghai Jiangnan-Changxing Shipbuilding Co., Ltd. and Shanghai Waigaoqiao Shipbuilding Co. Ltd.

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