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 2006

                        Commission File Number: 001-32458

                               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 that the Company has
entered into a long term time charter agreement for MV Sideris GS and has signed
a loan agreement for pre-delivery financing of two previously announced Capesize

                                                                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

                          AGREEMENT FOR MV SIDERIS GS

ATHENS,  GREECE,  November 7, 2006 - Diana Shipping Inc.  (NYSE:  DSX), a global
shipping company  specializing in the transportation of dry bulk cargoes,  today
announced  that it has entered  into a time charter  contract  with BHP Billiton
Marketing AG for its Capesize dry bulk carrier,  the Sideris GS, for a four-year
period with a one year  extension  at the  charterer's  option.  For the initial
period of 47 to 49 months  the gross  daily  charter  hire rate will be  $46,000
during the first year;  $43,000 during the second year; $39,000 during the third
year and $36,000  during the fourth year. The charterer has the option to employ
the vessel for a further  11-13 month period at a daily charter rate of $48,500.
The charter is expected to commence  shortly after the delivery of the vessel to
Diana Shipping by the yard,  which the Company expects to be between  December 1
and December 7, 2006.

During the initial  four-year  fixed period of the charter,  this  employment is
expected to generate approximately US$57 million of revenues for Diana Shipping.
If the optional period for the fifth year is exercised,  the aggregate  revenues
generated by this charter are expected to be approximately US$74 million.

Diana Shipping Chairman and Chief Executive Officer,  Simeon Palios,  commented:
"We are  proud to  announce  this new long term time  charter  fixture  with BHP
Billiton  which is  consistent  with  our  stated  policy  of  establishing  and
expanding  relationships  with  first  class  customers.  We  believe  that  the
significant cash flow generation through this time charter contract will enhance
Diana  Shipping's  dividend  paying  ability  while  at the same  time  offering
shareholders greater earnings visibility by increasing  contracted days for 2007
and extending this effect through 2010-2011."

The  Sideris GS is a 175,000  dwt  Capesize  dry bulk  carrier  currently  under
construction, and is expected to be delivered in December 2006.

Loan Agreement

The Company also  announced that it has signed a Loan Agreement with Fortis Bank
for a secured term loan of $60.2 million,  which the Company will use to finance
the pre-delivery  installments of the two newbuilding Capesize dry bulk carriers
to be constructed by Shanghai  Waigaoqiao  Shipbuilding Co., Ltd. Diana Shipping
expects to take delivery of the vessels during the second quarter of 2010. Diana
Shipping's  plans to assume  the  shipbuilding  contracts  for the two  Capesize
vessels,  as well as a Commitment  Letter from Fortis Bank for the  pre-delivery
financing, were previously announced in September 2006.

Under this Loan Agreement,  principal  repayments are scheduled upon delivery of
the vessels.  The interest on this facility during the construction  period will
be capitalized and included in the  construction  cost of the vessels.  Interest
payments will not affect the Company's  calculation  of the quarterly  dividends
per share.

About the Company

Diana Shipping Inc. (NYSE: DSX) 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 Statement

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 8, 2006                      By:  /s/ Anastassis Margaronis
                                                   Anastassis Margaronis

SK 23159 0002 719575