The origins of Diana in ship management go back even before 1907 where a company was built, which eventually controlled nearly the entire fleet of Greek passenger ships that connected the Greek islands with the mainland. In 1972, Simon Palios set up a group of companies and a management company with the name Diana Shipping Agencies S.A. or DSA. Since its inception, DSA has concentrated on the management of various types of dry cargo and refrigerated vessels for principals associated with the group as well as for third parties. In 1986, another management company was created with the name Diana Shipping Services S.A. or DSS and until the mid-1990’s the company based its development on managing second hand ships. In 1996, it turned also to newbuilds and since then has managed several bulk carriers and containerships from Polish, South Korean and Chinese shipyards.



Diana Shipping Inc. (NYSESX), a global shipping company specializing in the ownership and operation of dry bulk vessels, announced that it has entered into a time charter contract with Hyundai Merchant Marine Co. Ltd, Seoul, South Korea, for one of its Panamax dry bulk carriers, the m/v Erato, at a gross rate of US$12,200 per day, minus a 5% commission paid to third parties for a minimum thirteen (13) to about sixteen (16) month period. The charter is expected to commence early December 2011.

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