d838149.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF
THE
SECURITIES EXCHANGE ACT OF 1934
For
the
month of December 2007
Commission
File Number: 001-32458
DIANA
SHIPPING INC.
(Translation
of registrant’s name into English)
Pendelis
16, 175 64 Palaio Faliro, Athens, Greece
(Address
of principal executive office)
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 dated December 11,
2007 of Diana Shipping Inc. (the “Company”) announcing that it has taken
delivery of the 2005 built Capesize drybulk carrier to be name “Salt Lake
City”.
Corporate
Contact:
Ioannis
Zafirakis
Director
and Vice-President
Telephone:
+ 30-210-9470100
izafirakis@dianashippinginc.com
For
Immediate Release
Investor
and Media Relations:
Edward
Nebb
Euro
RSCG
Magnet
Telephone:
+ 1-212-367-6848
ed.nebb@eurorscg.com
DIANA
SHIPPING INC. ANNOUNCES DELIVERY OF CAPESIZE BULK CARRIER
ATHENS,
GREECE, December 11, 2007 - Diana Shipping Inc. (NYSE: DSX), a global shipping
transportation company specializing in dry bulk cargoes, today announced that
the Company has taken delivery of the 171,810 dwt Capesize dry bulk carrier
“Thalassini Niki”, renamed “Salt Lake City”, built in 2005 by Daewoo
Shipbuilding & Marine Engineering Co. Ltd. The agreement to
purchase this vessel was originally announced on October 17, 2007.
As
previously announced, “Salt Lake City” was purchased for US$140 million and is
chartered as of September 28, 2007 to Refined Success Ltd., guaranteed by Cosco
(H.K) Shipping Co Ltd. for a period of minimum 59 to maximum 61 months, at
a
daily rate of US$55,800 less 5% commission. Current employment is anticipated
to
generate approximately US$96.2 million of gross revenues for the Company over
the minimum scheduled period of the charter.
Including
the newly-delivered “Salt Lake City”, the Diana Shipping Inc. fleet currently
consists of 18 dry bulk carriers (13 Panamax and 5 Capesize). The
Company also previously announced the purchase of an additional Capesize dry
bulk carrier, which is expected to be delivered in early February 2008, and
two
Capesize new-building dry bulk carriers that are expected to be delivered during
the second quarter of 2010. A table describing the current Diana
Shipping Inc. fleet can be found on the Company’s website,
www.dianashippinginc.com.
Diana
Shipping Chairman and Chief Executive Officer, Simeon Palios,
commented:
“The
delivery of our recently acquired Capesize vessel, together with the additional
vessels scheduled to join the fleet between February 2008 and the second quarter
of 2010, are consistent with our disciplined growth strategy. We are very
fortunate that market conditions are exceptionally strong and that four of
our
Panamax vessels are to be re-chartered in the near future. These lucrative
charters together with the enhanced visibility of earnings reinforce our
confidence as regards our Company’s results going forward.”
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.
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,"
"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, vessel 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.
# # #
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: December
13, 2007
|
By:
|
/s/
Anastassis Margaronis
|
| |
|
Anastassis
Margaronis
President
|