<SEC-DOCUMENT>0000919574-22-003871.txt : 20220615
<SEC-HEADER>0000919574-22-003871.hdr.sgml : 20220615
<ACCEPTANCE-DATETIME>20220615170642
ACCESSION NUMBER:		0000919574-22-003871
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20220630
FILED AS OF DATE:		20220615
DATE AS OF CHANGE:		20220615

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DIANA SHIPPING INC.
		CENTRAL INDEX KEY:			0001318885
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32458
		FILM NUMBER:		221018474

	BUSINESS ADDRESS:	
		STREET 1:		PENDELIS 16
		STREET 2:		175 64 PALAIO FALIRO
		CITY:			ATHENS
		STATE:			J3
		ZIP:			00000
		BUSINESS PHONE:		30-210-947-0100

	MAIL ADDRESS:	
		STREET 1:		PENDELIS 16
		STREET 2:		175 64 PALAIO FALIRO
		CITY:			ATHENS
		STATE:			J3
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d9555961_6-k.htm
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    <div style="text-align: center; font-family: 'Times New Roman', serif; font-weight: bold;">FORM 6-K</div>
    <div><br>
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    <div style="text-align: center; font-family: 'Times New Roman', serif; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-family: 'Times New Roman', serif; font-weight: bold;">WASHINGTON, D.C.&#160; 20549</div>
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    <div style="text-align: center; font-family: 'Times New Roman', serif; font-weight: bold;">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16</div>
    <div style="text-align: center; font-family: 'Times New Roman', serif; font-weight: bold;">OF THE SECURITIES EXCHANGE ACT OF 1934</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', serif;">For the month of June 2022</div>
    <div style="text-align: center; font-family: 'Times New Roman', serif;">Commission File Number:&#160; 001-32458</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', serif; font-weight: bold;">DIANA SHIPPING INC.</div>
    <div style="text-align: center; font-family: 'Times New Roman', serif;">(Translation of registrant's name into English)</div>
    <div style="text-align: center; font-family: 'Times New Roman', serif;">Pendelis 16, 175 64 Palaio Faliro, Athens, Greece</div>
    <div style="text-align: center; font-family: 'Times New Roman', serif;">(Address of principal executive office)</div>
    <div><br>
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    <div style="font-family: 'Times New Roman', serif;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman', serif;">Form 20-F [X]&#160; &#160; &#160;&#160; Form 40-F [&#160; ]</div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman', serif;">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): [&#160; ].</div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman', serif;"><font style="font-weight: bold;">Note</font>: 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.</div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman', serif;">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): [&#160; ].</div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman', serif;"><font style="font-weight: bold;">Note</font>: 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.</div>
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    <div style="text-align: center; font-family: 'Times New Roman', serif; font-weight: bold;">INFORMATION CONTAINED IN THIS FORM 6-K REPORT</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif;">Attached to this Report on Form 6-K as Exhibit 99.1 is a press release dated June 15, 2022 of Diana Shipping Inc. (the
      "Company") announcing that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell one of its dry bulk vessels, the m/v Baltimore, to OceanPal Inc., a related party.</div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif;">The information contained in this Report on Form 6-K is hereby incorporated by reference into the
        Company's registration statement on Form F-3 (File No. 333-256791) that was filed with the U.S. Securities and Exchange Commission and became effective on July 9, 2021.</div>
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    <div style="text-align: center; font-family: 'Times New Roman', serif; font-weight: bold;">SIGNATURES</div>
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    <div style="font-family: 'Times New Roman', serif;">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.</div>
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    <table cellspacing="0" cellpadding="0" border="0" id="z9e2eeb30c306406394a6e3b97c7a72c5" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="vertical-align: top;" colspan="2">
            <div style="font-family: 'Times New Roman', serif; font-weight: bold;">DIANA SHIPPING INC.</div>
          </td>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="vertical-align: top;" colspan="2">
            <div style="margin-left: 21.6pt; font-family: 'Times New Roman', serif;">(registrant)</div>
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          <td style="vertical-align: top;" colspan="2">&#160;</td>
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          <td style="width: 50%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', serif;">Dated: June 15, 2022</div>
          </td>
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            <div style="font-family: 'Times New Roman', serif;">By:</div>
          </td>
          <td style="width: 45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', serif;"><u>/s/ Anastassis Margaronis</u></div>
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          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', serif;">Anastassis Margaronis</div>
          </td>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', serif;">President</div>
          </td>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 45%; vertical-align: top;">&#160;</td>
        </tr>
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          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 45%; vertical-align: top;">&#160;</td>
        </tr>

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    <div style="text-align: right; font-family: 'Times New Roman', serif; font-weight: bold;">Exhibit 99.1</div>
    <div style="text-align: right; font-family: 'Times New Roman', serif; font-weight: bold;"> <br>
    </div>
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            <div style="font-family: 'Times New Roman', serif; font-style: italic; font-weight: bold;">Corporate Contact:</div>
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          <td style="width: 42.76%; vertical-align: top;">&#160;</td>
          <td style="width: 57.24%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', serif;">Ioannis Zafirakis</div>
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          <td style="width: 57.24%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', serif;">Director, Chief Financial Officer,</div>
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          <td style="width: 57.24%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', serif;">Chief Strategy Officer, Treasurer and Secretary</div>
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          <td style="width: 57.24%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', serif;">Telephone: + 30-210-9470-100</div>
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          <td style="width: 57.24%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', serif;">Email: <font style="color: #0000FF;"><u>izafirakis@dianashippinginc.com</u></font></div>
          </td>
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          <td style="width: 42.76%; vertical-align: top;">&#160;</td>
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            <div style="font-family: 'Times New Roman', serif;">Website: <font style="color: #0000FF;"><u>www.dianashippinginc.com</u></font></div>
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            <div style="font-family: 'Times New Roman', serif;">Twitter: <font style="color: #0000FF;"><u>@Dianaship</u></font></div>
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            <div style="font-family: 'Times New Roman', serif; font-style: italic; font-weight: bold;">Investor and Media Relations:</div>
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            <div style="font-family: 'Times New Roman', serif;">Edward Nebb</div>
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            <div style="font-family: 'Times New Roman', serif;">Comm-Counsellors, LLC</div>
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            <div style="font-family: 'Times New Roman', serif;">Telephone: + 1-203-972-8350</div>
          </td>
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          <td style="width: 42.76%; vertical-align: top;">&#160;</td>
          <td style="width: 57.24%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', serif;">Email: <font style="color: #0000FF;"><u>enebb@optonline.net</u></font></div>
          </td>
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    <div style="text-align: center;"><font style="font-family: 'Times New Roman', serif; font-weight: bold;">DIANA SHIPPING INC. ANNOUNCES THE SALE OF A CAPESIZE DRY BULK VESSEL, THE M/V BALTIMORE<br>
        </font><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', serif;">ATHENS, GREECE, June 15, 2022 &#8211; Diana Shipping Inc. (NYSE: DSX), (the &#8220;Company&#8221;), a global shipping company specializing in the ownership and bareboat charter-in
      of dry bulk vessels, announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell one of its dry bulk vessels, the m/v Baltimore, to OceanPal Inc., a related party. The aggregate sale price of the vessel
      is $22.0 million, 20% of which was paid upon signing of the Memorandum of Agreement and 80% of which will be paid upon the delivery of the vessel in the form of newly issued preferred shares of OceanPal Inc. The terms of the preferred shares will be
      mutually agreeable between the Company and OceanPal Inc., and are expected to include a preferred dividend and to be convertible into OceanPal Inc. common shares at any time. The aggregate sale price was agreed upon based on the average of two
      independent broker vessel valuations, adjusted for a scheduled drydocking of the vessel prior to delivery to OceanPal Inc. and taking into account the share-based component of the consideration.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', serif;">The m/v Baltimore is a 2005-built Capesize dry bulk vessel having a carrying capacity of 177,243 dwt. Delivery to the buyer is expected to occur in the third
      quarter of 2022 following the completion of the vessel&#8217;s scheduled drydocking. The sale and purchase of the vessel was made pursuant to OceanPal Inc.&#8217;s exercise of a right of first refusal granted by the Company on six identified vessels (including
      the m/v Baltimore) based on an agreement dated November 8, 2021. The sale of the m/v Baltimore to OceanPal Inc. was approved by a committee of independent members of the Company&#8217;s Board of Directors.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', serif;">Upon completion of the aforementioned sale, Diana Shipping Inc.&#8217;s owned and bareboat chartered-in fleet will consist of 34 dry bulk vessels (4 Newcastlemax, 11
      Capesize, 5 Post-Panamax, 6 Kamsarmax and 8 Panamax). As of today, the combined carrying capacity of our fleet, including the m/v Baltimore, is approximately 4.5 million dwt with a weighted average age of 10.38 years. A table describing the current
      Diana Shipping Inc. fleet can be found on the Company&#8217;s website, www.dianashippinginc.com. Information contained on the Company&#8217;s website does not constitute a part of this press release.</div>
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    <div style="text-align: justify; font-family: 'Times New Roman', serif; font-weight: bold;">About the Company</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', serif;">Diana Shipping Inc. is a global provider of shipping transportation services through its ownership and bareboat charter-in of dry bulk vessels. The Company&#8217;s
      vessels are employed primarily on short to medium-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.</div>
    <div><br>
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    <div style="text-align: justify; font-family: 'Times New Roman', serif; font-weight: bold;">Cautionary Statement Regarding Forward-Looking Statements</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', serif;">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.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', serif;">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 &#8220;believe,&#8221; &#8220;anticipate,&#8221; &#8220;intends,&#8221; &#8220;estimate,&#8221; &#8220;forecast,&#8221; &#8220;project,&#8221; &#8220;plan,&#8221; &#8220;potential,&#8221; &#8220;may,&#8221; &#8220;should,&#8221; &#8220;expect,&#8221; &#8220;pending&#8221; and similar expressions identify forward-looking
      statements.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', serif;">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, Company management&#8217;s examination of historical operating trends, data contained in the Company&#8217;s records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made,
      because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company&#8217;s control, the Company cannot assure you that it will achieve or accomplish these
      expectations, beliefs or projections.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', serif;">In addition to these important factors, other important factors that, in the Company&#8217;s view, could cause actual results to differ materially from those discussed
      in the forward-looking statements include the severity, magnitude and duration of the COVID-19 pandemic, including impacts of the pandemic and of businesses&#8217; and governments&#8217; responses to the pandemic on our operations, personnel, and on the demand
      for seaborne transportation of bulk products; 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 the
      Company&#8217;s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company&#8217;s 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, including risks associated with the continuing conflict between Russia and Ukraine and related sanctions, potential
      disruption of shipping routes due to accidents or political events, vessel breakdowns and instances of off-hires and other factors. Please see the Company&#8217;s filings with the U.S. Securities and Exchange Commission for a more complete discussion of
      these and other risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.</div>
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