Diana Shipping Inc. Announces the Acquisition
of a Post-Panamax Dry Bulk Carrier

ATHENS, Greece, October 1, 2010 – Diana Shipping Inc. (NYSE:DSX), a global shipping transportation company specializing in dry bulk cargoes, today announced that it has agreed to purchase from an unaffiliated third party the MV “East Sunrise 88”, a 2010 built Post-Panamax dry bulk carrier of 93,193 dwt, for a price of US$40.8 million. The vessel, to be renamed “Alcmene”, is expected to be delivered to the Company by the sellers during the end of November 2010.

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