Diana Shipping Inc. Announces Date for Its 2013 Annual Meeting of Shareholders and Deadline for Submitting Shareholder Proposals

ATHENS, Greece, March 21, 2013 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE:DSX), a global shipping company specializing in the ownership and operation of dry bulk vessels, announced today that its Board of Directors (the "Board") has scheduled the Company's Annual Meeting of Shareholders (the "Meeting") for May 16, 2013. The Board has set a record date for the Meeting of April 2, 2013. Since the Meeting will occur more than 30 days prior to the anniversary of the Company's prior Annual Meeting of Shareholders held on July 31, 2012, the Board has set a new deadline for the receipt of shareholder proposals a reasonable time before the Company will begin to print and send its proxy materials. For business to be properly brought before the Meeting by any shareholder, and for a nomination of directors to be made by a shareholder, notice must be received by the Company in proper written form, in accordance with the Company's Amended and Restated Bylaws, no later than April 4, 2013.

About the Company

Diana Shipping Inc. is a leading global provider of shipping transportation services through the ownership and operation of dry bulk vessels. The Company's vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

CONTACT: Corporate Contact:
         Ioannis Zafirakis
         Director, Executive Vice-President and Secretary
         Telephone: + 30-210-947-0100
         Email: izafirakis@dianashippinginc.com
         
         Investor and Media Relations:
         Edward Nebb
         Comm-Counsellors, LLC
         Telephone: + 1-203-972-8350
         Email: enebb@optonline.net