Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of September 2006
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 of Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [__]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): ___
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)7: ___
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]
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): ________.
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Attached to this Report on Form 6-K as Exhibit 1 is a press release issued
by Diana Shipping Inc. announcing that it has agreed to purchase from an
unaffiliated third party, a Capesize dry bulk carrier of approximately 175,000
dwt, currently under construction by Shanghai Waigaoqiao Shipbuilding Co., Ltd.
Exhibit 1
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Corporate Contact:
Ioannis Zafirakis
Director and Vice-President
Telephone: + 30-210-9470100
izafirakis@dianashippinginc.com
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For Immediate Release
Investor and Media Relations:
Edward Nebb
Euro RSCG Magnet
Telephone: + 1-212-367-6848
ed.nebb@eurorscg.com
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DIANA SHIPPING INC. ANNOUNCES NEW VESSEL ACQUISITION
Addition of Capesize Dry Bulk Carrier Will Expand and Diversify Fleet
ATHENS, Greece, September 13, 2006 - 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, a
Capesize dry bulk carrier of approximately 175,000 dwt, currently under
construction by Shanghai Waigaoqiao Shipbuilding Co., Ltd. for a price of $91
million. The vessel, to be named Sideris GS, is expected to be delivered to the
Company by the sellers immediately upon completion of its construction in or
about December 2006.
Diana Shipping Chairman and Chief Executive Officer, Simeon Palios, commented:
"The acquisition of our fifteenth dry bulk carrier and especially of a Capesize
vessel is very significant to our Company. The addition of this vessel to our
fleet is consistent with our strategy of expanding our fleet in the Capesize
sector and at the same time operating modern vessels. The weighted average age
of our fleet at the time of delivery will be only 3.7 years with a total cargo
carrying capacity of approximately 1.3 million dwt."
Upon delivery of this vessel, the Company's fleet will consist of thirteen
Panamax dry bulk carriers and two Capesize dry bulk carriers.
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. priced its initial public offering of
common stock on March 17, 2005.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking
statements. The Private Securities Litigation Reform Act of 1995 provides safe
harbor protections for forward-looking statements in order to encourage
companies to provide prospective information about their business.
Forward-looking statements 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 Company desires to take advantage of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 and is including this
cautionary statement in connection with this safe harbor legislation. The words
"believe," "except," "anticipate," "intends," "estimate," "forecast," "project,"
"plan," "potential," "will," "may," "should," "expect" "pending and similar
expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, our management's examination of historical
operating trends, data contained in our records and other data available from
third parties. Although we believe 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, we cannot assure you that we will achieve or accomplish
these expectations, beliefs or projections.
In addition to these important factors, other 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 fluctuations in charter rates
and vessel values, changes in demand for dry bulk shipping capacity, changes in
our operating expenses, including bunker prices, drydocking and insurance costs,
the market for our vessels, availability of financing and refinancing, changes
in governmental rules and regulations or actions taken by regulatory
authorities, potential liability from pending or future litigation, general
domestic and international political conditions, potential disruption of
shipping routes due to accidents or political events, vessels breakdowns and
instances of off-hires and other factors. Please see our filings with the
Securities and Exchange Commission for a more complete discussion of these and
other risks and uncertainties.
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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: September 13, 2006 By: /s/ Anastassis Margaronis
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Anastassis Margaronis
President