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

ATHENS, GREECE, April 21, 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 Daelim Corporation, Seoul, for one of its Panamax dry bulk carriers, the m/v Clio, at a gross charter rate of US$25,000 per day for a period of minimum twenty three (23) to maximum twenty five (25) months. The charter is expected to commence during the first half of May 2010.

This employment is anticipated to generate approximately US$17.3 million of gross revenue for the minimum scheduled period of the charter.

The m/v Clio is a 73,691 dwt Panamax dry bulk carrier built in 2005.

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