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 December 2009
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): [ ].
Note: Regulation S-T Rule
101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely
to provide an attached annual report to security holders.
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): [ ].
Note: Regulation S-T Rule
101(b)(7) only permits the submission in paper of a Form 6-K if submitted to
furnish a report or other document that the registrant foreign private issuer
must furnish and make public under the laws of the jurisdiction in which the
registrant is incorporated, domiciled or legally organized (the registrant's
"home country"), or under the rules of the home country exchange on which the
registrant's securities are traded, as long as the report or other document is
not a press release, is not required to be and has not been distributed to the
registrant's security holders, and, if discussing a material event, has already
been the subject of a Form 6-K submission or other Commission filing on
EDGAR.
INFORMATION
CONTAINED IN THIS FORM 6-K REPORT
Attached
hereto as Exhibit 99.1 is a press release from Diana Shipping Inc. (the
"Company") dated December 28, 2009 announcing its acquisition of a Panamax dry
bulk carrier.
The
information contained in this Report on Form 6-K is hereby incorporated by
reference into the Company's registration statement on Form F-3D (File no.
333-150406) filed with the U.S. Securities and Exchange Commission (the
"Commission") with an effective date of April 24, 2008, and the Company's
registration statement on Form F-3 ASR (File No. 333-159016) filed with the
Commission with an effective date of May 6, 2009.
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: December
29, 2009
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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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Exhibit
99.1
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Corporate
Contact:
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Ioannis
Zafirakis
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Director,
Executive Vice-President and Secretary
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Telephone:
+ 30-210-9470-100
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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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Comm-Counsellors,
LLC
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Telephone:
+ 1-203-972-8350
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Email:
enebb@optonline.net
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DIANA
SHIPPING INC. ANNOUNCES THE ACQUISITION
OF
A PANAMAX DRY BULK CARRIER
ATHENS,
Greece, December 28, 2009 – 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 the MV "Teresa Hebei", a
2004 built Panamax dry bulk carrier of 76,436 dwt, for a price of US$35.1
million. The vessel, to be renamed "Melite", is expected to be delivered to the
Company by the sellers during the end of January 2010.
Diana
Shipping Chairman and Chief Executive Officer, Simeon Palios, commented:
"Consistent with our strategy and our view regarding the dry bulk market, we
have initiated our investment program which involves taking advantage of the
growth opportunities presented during this low phase of the shipping cycle. As
this program is implemented over the next two years, we believe that Diana will
generate shareholder value through purchases of attractively-priced vessels, in
accordance with our technical and age profile standards using our robust balance
sheet and cash position, together with new debt as appropriate."
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,"
"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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