Report of Foreign Private Issuer
                      Pursuant to Rule 13a-16 or 15d-16 of
                       the Securities Exchange Act of 1934

                          For the month of August 2006

                               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 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):


     Attached to this Report on Form 6-K as Exhibit 1 is a press release  issued
by Diana Shipping Inc. (the "Company")  announcing the delivery of a Panamax dry
bulk carrier, expanding the Company's fleet to fourteen vessels.

                                                                      Exhibit 1

                                                             Corporate Contact:
                                                              Ioannis Zafirakis
                                                    Director and Vice-President
                                                    Telephone: + 30-210-9470100
For Immediate Release
                                                  Investor and Media Relations:
                                                                    Edward Nebb
                                                               Euro RSCG Magnet
                                                    Telephone: + 1-212-367-6848


ATHENS,  GREECE,  August 11, 2006 - Diana  Shipping Inc.  (NYSE:  DSX), a global
shipping   transportation  company  specializing  in  dry  bulk  cargoes,  today
announced  that it has taken  delivery  of the  Yasmine  Venture,  a 73,546  dwt
Panamax dry bulk carrier, built in Jiangnan Shipyard (Group), Co. Ltd., Shanghai
in 2006.  The vessel,  which will be renamed  Naias,  was  purchased for US$39.6
million as previously  announced and is chartered to Bocimar  Belgium N.V. for a
period of about 11-13 months,  at the charterer's  option,  at a rate of $21,000
net of commissions expected to commence August 12, 2006.

With the  delivery  of the Naias,  Diana  Shipping  has  increased  its fleet to
fourteen vessels  (thirteen  Panamax dry bulk carriers and one Capesize dry bulk
carrier).  In addition the  combined  deadweight  of the fleet has  increased to
approximately  1,138,232 tons and the weighted  average age has decreased to 3.9

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,  vessel  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:  August 15, 2006                    By:  /s/ Anastassis Margaronis
                                                Anastassis Margaronis

SK 23159 0002 695242