ATHENS, GREECE, May 13, 2015 – Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today reported a net loss of $10.8 million and net loss attributed to common stockholders of $12.2 million for the first quarter of 2015, compared to net loss of $6.0 million and net loss attributed to common stockholders of $6.8 million reported in the first quarter of 2014.

Time charter revenues were $42.0 million for the first quarter of 2015, compared to $41.1 million for the same period of 2014. The increase in time charter revenues was mainly due to the increase in ownership days resulting from the enlargement of our fleet and was partly offset by reduced time charter rates.

Share Repurchase Plan

As previously announced, on May 23, 2014, the Company’s Board of Directors authorized a share repurchase plan, under which, during the first quarter of 2015, the Company repurchased and retired 413,804 shares for an aggregate cost of about $2.7 million…