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 January 2007

                        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") on January 24, 2007 announcing the
pricing of a secondary offering of the Company's common stock being offered by
three selling shareholders.

                                                                       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

                                 OF COMMON STOCK

ATHENS,  GREECE,  January 24, 2007 - Diana Shipping Inc.  (NYSE:  DSX), a global
shipping company  specializing in the transportation of dry bulk cargoes,  today
announced the pricing of a secondary  offering of 5,000,000 shares of its common
stock being  offered by three  selling  shareholders.  In addition,  the selling
shareholders  have  granted  the  underwriters  an option to  purchase  up to an
additional 750,000 common shares to cover over-allotments.  The shares are being
offered through Bear, Stearns & Co. Inc. and Wachovia Capital Markets,  LLC at a
price to the  public of $15.75 per  share.  The  Company  will not  receive  any
proceeds from the sale.

The selling  shareholders are Ironwood  Trading Corp.,  Corozal Compania Naviera
S.A.,  and Zoe S. Company Ltd.  Ironwood  and Corozal are  controlled  by Simeon
Palios,  the  Company's   Chairman  and  Chief  Executive  Officer.   Zoe  is  a
wholly-owned indirect subsidiary of Fortis Bank (Nederland) N.V.

The offering is being made only by means of a prospectus and related  prospectus
supplement.  A prospectus  supplement related to the offering will be filed with
the Securities and Exchange Commission. When available, copies of the prospectus
and prospectus  supplement may be obtained from Bear,  Stearns & Co. Inc. at 383
Madison  Avenue,  New York, New York 10179,  telephone:  (866) 803-9204 and from
Wachovia  Capital  Markets,  LLC at 375 Park Avenue,  New York,  New York 10152,
telephone: (800) 326-5897.

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.

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:  January 24, 2007                   By:  /s/ Anastassis Margaronis
                                                    Anastassis Margaronis

SK 23159 0002 741443