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

ATHENS, Greece, May 13, 2011 – 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 “Corona”, a 2007 built Panamax dry bulk carrier of 73,593 dwt, for a price of US$29.99 million. The vessel, to be renamed “Arethusa”, is expected to be delivered to the Company by the sellers by the end of June 2011.

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