Diana Shipping, Inc., formerly known as Diana Shipping Investments Corp.,is a holding company incorporated under the laws of Liberia in March 8, 1999. The Company is a provider of shipping transportation services. It specializes in transporting dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials. Currently, its fleet consists of 37 dry bulk carriers, of which 19 are Panamax, three are Kamsarmax, three are Post-Panamax, ten are Capesize and two are Newcastlemax vessels, having a combined carrying capacity of approximately 4.2 million dwt, and a weighted average age of 6.6 years. The Company's customers include national, regional and international companies, such as Cargill International S.A., BHP Billiton, Corus U.K. Limited and EDF Trading Ltd. The Company operates in markets that are competitive and based mainly on supply and demand. It competes with other owners of dry bulk carriers in the Panamax and smaller class sectors and with owners of Capesize dry bulk carriers. The Company's operations are subject to numerous laws and regulations in the form of international conventions and treaties, national, state and local laws and national and international regulations.
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