Diana Shipping Inc. Announces Direct Continuation of Time Charter Agreement for m/v Dione with Louis Dreyfus

ATHENS, GREECE, July 2, 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 Louis Dreyfus Commodities S.A., Geneva, Switzerland, for its Panamax dry bulk carrier, the m/v Dione, at a gross daily rate of US$20,500 for a period of minimum twenty two (22) to maximum twenty six (26) months. The charter is a direct continuation of the previous agreement and will commence at the beginning of September, 2010.

This employment is anticipated to generate approximately US$13.5 million of gross revenue for the minimum scheduled period of the charter.

The m/v Dione is a 75,172 dwt Panamax dry bulk carrier built in 2001.

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