d954237_6-k.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 February 2008
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 February 11,
2008 of Diana Shipping Inc. (the “Company”) announcing that it has entered into
a time charter contract with Cargill International S.A., Geneva, for one of
its
Panamax dry bulk carriers, the Alcyon.
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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DIANA
SHIPPING INC. ANNOUNCES LONG-TERM TIME CHARTER CONTRACT FOR MV ALCYON WITH
CARGILL
ATHENS,
GREECE February 11, 2008 – 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 Cargill International
S.A., Geneva, for one of its Panamax dry bulk carriers, the Alcyon, at a gross
rate of US$34,500 per day for a minimum fifty seven (57) to a maximum sixty
(60)
month period.
This
employment is anticipated to generate approximately US$59 million of gross
revenues for the minimum scheduled period of the charter. The charter is
expected to commence in the second half of February, 2008.
Diana
Shipping Chairman and Chief Executive Officer, Simeon Palios, commented:
“Market
conditions today remain firm and the fundamentals regarding the short term
provide cause for strong optimism. Nevertheless, once again, the
Company has to show self-discipline and continue the portfolio approach in
the
chartering of our vessels. Securing close to US$60 million in gross
charter revenue for the next five years for one of our vessels is an example
of
the flexibility of our chartering strategy and increases further the visibility
of our earnings out to 2012. We are optimistic about the prospects of
finding attractive fixtures for two additional Panamax vessels in our fleet
that
we will seek to re-charter in the days to come.”
The
Alcyon is a 75,247 dwt Panamax dry bulk carrier built in 2001.
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, 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.
# # #
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)
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Dated: February
11, 2008
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By:
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/s/
Anastassis Margaronis
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Anastassis
Margaronis
President
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SK
23159 0002 854237