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 November 2005

                               DIANA SHIPPING INC.
                 (Translation of registrant's name into English)

                               Diana Shipping Inc.
                                   Pendelis 16
                              175 64 Palaio Faliro
                                 Athens, Greece

                    (Address of principal executive offices)

         Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.

                        Form 20-F [X]        Form 40-F [_]

         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

                                Yes [_]        No [X]


          Attached to this Report on Form 6-K as Exhibit 1 is a copy of the
press release issued by Diana Shipping Inc. (the "Company") on October 31, 2005,
announcing its acquisition of two new Panamax dry bulk carriers.

Exhibit 1

                                       Corporate Contact:
                                       Ioannis Zafirakis
                                       Director and Vice-President
                                       Telephone: + 30-210-947-0100

For Immediate Release

                                       Investor and Media Relations:
                                       Edward Nebb
                                       Euro RSCG Magnet
                                       Telephone: + 1-212-367-6848


ATHENS,  GREECE,  October 31, 2005 - Diana Shipping Inc.  (NYSE:  DSX), a global
shipping   transportation  company  specializing  in  dry  bulk  cargoes,  today
announced  that it has agreed to purchase  two Panamax  dry bulk  carriers,  the
sister vessels M/V CMB Philippe and Hull H1307A.  The M/V CMB Philippe of 74,500
dwt,  built by Hudong  Shipyard in August  2004,  has a purchase  price of $39.0
million and is expected to be delivered  in November  2005.  Hull No.  H1307A of
74,500 dwt,  currently  under  construction by Hudong  Shipyard,  has a purchase
price of $42.0  million  and is  expected to be  delivered  in March  2006.  The
vessels will be chartered to Bocimar International nv, Antwerp,  Belgium, for 11
to 13 months at $21,000 per day gross, commencing from their respective dates of
delivery to Diana Shipping Inc.

Upon  completion  of  these  purchases,  as  well  as the  previously  announced
acquisition  of the Panamax dry bulk carrier M/V Bolina (to be renamed  Thetis),
the  Company's  fleet  will  consist  of 12 Panamax  dry bulk  carriers  and one
Capesize  dry bulk  carrier.  Based on these  acquisitions  and  their  delivery
schedules, the Company's fixed employment coverage for 2006 will increase to 44%
from 30%. The expected  time charter  equivalent  rate of the vessels with fixed
employment will average approximately $27,000 gross per day.

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.  Diana  Shipping Inc.  priced its initial  public  offering of
common stock on March 17, 2005.

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," "except," "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.

Dated:  November 1, 2005                         By:  /s/ Anastassis Margaronis
                                                      Anastassis Margaronis

23159.0003 #613659