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DIANA
SHIPPING INC.
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(Translation
of registrant’s name into English)
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Pendelis
16, 175 64 Palaio Faliro, Athens, Greece
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(Address
of principal executive office)
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Exhibit
1
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Corporate
Contact:
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Ioannis
Zafirakis
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Director
and Vice-President
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Telephone:
+ 30-210-9470100
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Email:
izafirakis@dianashippinginc.com
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For
Immediate Release
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Investor
and Media Relations:
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Edward
Nebb
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Euro
RSCG Magnet
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Telephone:
+ 1-212-367-6848
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Email:
ed.nebb@eurorscg.com
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ATHENS,
GREECE, September 4, 2007 – 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
China National Chartering Corp., or Sinochart, Beijing for one of
its
Panamax dry bulk carriers, the Thetis, at a gross rate of
US$60,250 per day for a minimum eleven (11) to a maximum thirteen
(13)
month period.
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This
employment is anticipated to generate approximately US$19.9 million
of
gross revenues for the minimum scheduled period of the charter. The
charter is expected to commence in early October, 2007.
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The
Thetis is a 73,583 dwt Panamax dry bulk carrier built in
2004.
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About
the Company
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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.
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Cautionary
Statement Regarding Forward-Looking Statements
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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.
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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,” “anticipate,” “intends,” “estimate,” “forecast,”
“project,” “plan,” “potential,” “will,” “may,” “should,” “expect”
“pending” and similar expressions identify forward-looking
statements.
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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.
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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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Dated: September
4, 2007
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By:
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/s/
Anastassis Margaronis
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Anastassis
Margaronis
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President
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