FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of July 2005
DIANA SHIPPING INC.
(Translation of registrant's name into English)
Diana Shipping Inc.
Pendelis 16
175 64 Palaio Faliro
Athens, Greece
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F __
Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes___ No X
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Attached to this Report on Form 6-K as Exhibit 1 is a copy of the
press release issued by Diana Shipping Inc. (the "Company") on July 6, 2005
announcing the time charter of the Clio, one of the Company's Panamax dry bulk
carriers, to Deiulemar Shipping for a period of approximately 22 days commencing
on or around July 18, 2005.
Exhibit 1
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Corporate Contact:
Ioannis Zafirakis
Director and Vice-President & Secretary
Telephone: + 30-210-947-0100
FOR IMMEDIATE RELEASE
Investor and Media Relations:
Edward Nebb
Euro RSCG Magnet
Telephone: + 1-212-367-6848
DIANA SHIPPING INC. ANNOUNCES
NEW TIME CHARTER CONTRACT
ATHENS, GREECE, July 6, 2005 - Diana Shipping Inc. (NYSE: DSX), a
global shipping transportation company specializing in dry bulk cargoes,
announced today that it has entered one of its Panamax dry bulk carriers, the
Clio, into a time-charter contract with Deiulemar Shipping for a period of
approximately 22 days, estimated to begin July 18, 2005, at a gross rate of
$18,000 per day plus a $200,000 one-time payment. Applying the above mentioned
one-time payment to this fixture, and based on the estimated duration of 22
days, the effective gross time charter rate per day increases by approximately
$9,000 to approximately $27,000. The Clio is a Panamax dry bulk carrier of
73,691 dwt built in China 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. completed its initial public offering of
common stock on March 23, 2005.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this release may constitute forward-looking statements.
Forward-looking statements reflect our current views with respect to future
events and financial performance and may include statements concerning plans,
objectives, goals, strategies, future events or performance, and underlying
assumptions and other statements, which are other than statements of historical
facts. The forward-looking statements in this release are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, management's examination of historical operating
trends, data contained in our records and other data available from third
parties. Although Diana Shipping Inc. believes that these assumptions were
reasonable when made, because these assumptions are inherently subject to
significant uncertainties and contingencies which are difficult or impossible to
predict and are beyond our control, Diana Shipping Inc. cannot assure you that
it will achieve or accomplish these expectations, beliefs or projections.
Important factors that, in our view, could cause actual results to differ
materially from those discussed in the forward- looking statements include the
strength of world economies and currencies, general market conditions, including
changes in charterhire rates and vessel values, changes in demand that may
affect attitudes of time charterers to scheduled and unscheduled drydocking,
changes in Diana Shipping Inc.'s operating expenses, including bunker prices,
dry-docking and insurance costs, or actions taken by regulatory authorities,
potential liability from pending or future litigation, domestic and
international political conditions, potential disruption of shipping routes due
to accidents and political events or acts by terrorists.
Risks and uncertainties are further described in reports filed by Diana Shipping
Inc. with the US Securities and Exchange Commission.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
DIANA SHIPPING INC.
(registrant)
Dated: July 6, 2005 By: /s/ Anastassis Margaronis
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Anastassis Margaronis
President
23159.0002 #584750