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

ATHENS, GREECE, November 10, 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 Resource Marine Pte., Ltd, Singapore, a guaranteed nominee of Macquarie Bank Limited, for one of its Panamax dry bulk carriers, the m/v Triton, at a gross charter rate of US$19,500 per day for a period of minimum thirty-five (35) to maximum thirty-eight (38) months. The charter is expected to commence at the beginning of December 2010.

This employment is anticipated to generate approximately US$20.5 million of gross revenue for the minimum scheduled period of the charter.

The m/v Triton is a 75,336 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