Diana Shipping Inc. Announces Time Charter Contract for m/v Coronis

ATHENS, GREECE, March 24, 2010 – 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 Siba Ships Asia, Pte Ltd, for one of its Panamax dry bulk carriers, the m/v Coronis, at a gross charter rate of US$24,000 per day for a period of minimum twenty three (23) to about twenty six (26) months. The charter is expected to commence at the beginning of April 2010.

This employment is anticipated to generate approximately US$16.6 million of gross revenue for the minimum scheduled period of the charter.

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

About Diana Shipping Inc.
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