Diana Shipping (DSX) 20-F 28 Mar 16 2015 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2015shares
Document And Entity Information [Abstract]
Document type	20-F
Document period end date	Dec. 31, 2015
Amendment flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Entity registrant name	DIANA SHIPPING INC.
Entity central index key	1,318,885
Entity current reporting status	Yes
Entity voluntary filers	No
Current fiscal year end date	--12-31
Entity filer category	Accelerated Filer
Entity well known seasoned issuer	No
Entity common stock shares outstanding	82,546,017
Trading Symbol	DSX

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
CURRENT ASSETS:
Cash and cash equivalents (Note 2(e))	$ 193,218	$ 218,901
Accounts receivable, trade (Note 2(f))	4,512	6,383
Due from related parties (Notes 2(g) and 4(b))	5,103	57
Inventories (Note 2(h))	6,251	7,313
Prepaid expenses and other assets	5,929	5,580
Total current assets	215,013	238,234
FIXED ASSETS:
Advances for vessels under construction and acquisitions and other vessel costs (Note 5)	44,514	29,500
Vessels (Note 6)	1,947,992	1,807,654
Accumulated depreciation (Note 6)	(507,189)	(434,521)
Vessels' net book value (Note 6)	1,440,803	1,373,133
Property and equipment, net (Note 7)	23,489	23,887
Total fixed assets	1,508,806	1,426,520
OTHER NON-CURRENT ASSETS:
Due from related parties, non-current (Notes 2(g) and 4(b))	43,750	50,866
Equity method investments (Note 3)	62,487	67,546
Deferred charges, net	6,909	3,956
Total assets	1,836,965	1,787,122
CURRENT LIABILITIES:
Current portion of long-term debt, net of deferred financing costs, current (Note 9)	40,984	78,734
Accounts payable, trade and other	8,963	9,702
Due to related parties (Note 4)	64	281
Accrued liabilities	6,449	6,012
Deferred revenue	2,414	3,279
Other current liabilities	15	84
Total current liabilities	58,889	98,092
Long-term debt, net of current portion and deferred financing costs, non-current (Note 9)	559,087	405,522
Other non-current liabilities	$ 623	$ 1,282
Commitments and contingencies (Note 10)
STOCKHOLDERS' EQUITY:
Preferred stock (Note 11(a))	$ 26	$ 26
Common stock, $0.01 par value; 200,000,000 shares authorized and 82,546,017 and 81,859,821 issued and outstanding at December 31, 2015 and 2014, respectively (Note 11(b))	825	819
Additional paid-in capital	976,880	971,280
Accumulated other comprehensive income/(loss)	269	(747)
Retained earnings	240,366	310,848
Total stockholders' equity	1,218,366	1,282,226
Total liabilities and stockholders' equity	$ 1,836,965	$ 1,787,122

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
CONSOLIDATED BALANCE SHEETS
Common Stock, Par Or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares Issued	82,546,017	81,859,821
Common Stock, Shares Outstanding	82,546,017	81,859,821

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
REVENUES:
Time charter revenues	$ 157,712	$ 175,576	$ 164,005
Other revenues (Note 4(b))	0	0	447
EXPENSES:
Voyage expenses (Notes 4(d) and 12)	15,528	10,665	8,119
Vessel operating expenses (Note 12)	88,272	86,923	77,211
Depreciation and amortization of deferred charges (Notes 2(m) and 2(n))	76,333	70,503	64,741
General and administrative expenses	25,335	26,217	23,724
Management fees to related party (Notes 3(b) and 4(d))	405	0	0
Foreign currency gain	(984)	(528)	(690)
Operating loss	(47,177)	(18,204)	(8,653)
OTHER INCOME / (EXPENSES):
Interest and finance costs (Note 13)	(15,555)	(8,427)	(8,140)
Interest and other income (Note 4(b))	3,152	3,627	1,800
Income / (loss) from derivative instruments (Note 16)	0	68	(118)
Income / (loss) from equity method investments (Note 3)	(5,133)	12,668	(6,094)
Total other income / (expenses), net	(17,536)	7,936	(12,552)
Net loss	(64,713)	(10,268)	(21,205)
Dividends on series B preferred shares (Notes 11(a) and 14)	(5,769)	(5,080)	0
Net loss attributed to common stockholders	$ (70,482)	$ (15,348)	$ (21,205)
Loss per common share, basic and diluted (Note 14)	$ (0.89)	$ (0.19)	$ (0.26)
Weighted average number of common shares, basic and diluted (Note 14)	79,518,009	81,292,290	81,328,390

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME / (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Income and Comprehensive Income [Abstract]
Net loss	$ (64,713)	$ (10,268)	$ (21,205)
Other comprehensive income / (loss) (Actuarial gain / (loss))	1,016	(911)	(30)
Comprehensive loss	$ (63,697)	$ (11,179)	$ (21,235)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Other Comprehensive Income / (Loss)	Retained Earnings / (Accumulated Deficit)
Balance of shares at Dec. 31, 2012			82,233,424
Balance at Dec. 31, 2012	$ 1,266,424		$ 822	$ 918,007	$ 194	$ 347,401
Net loss	(21,205)					(21,205)
Issuance of restricted stock and compensation cost, shares (Note 11(c))			607,946
Issuance of restricted stock and compensation cost, value (Note 11(c))	8,203		$ 6	8,197
Other comprehensive income / (loss)	(30)				(30)
Balance of shares at Dec. 31, 2013			82,841,370
Balance at Dec. 31, 2013	1,253,392		$ 828	926,204	164	326,196
Net loss	(10,268)					(10,268)
Issuance of series B preferred stock, shares		2,600,000
Issuance of series B preferred stock, value	62,698	$ 26		62,672
Issuance of restricted stock and compensation cost, shares (Note 11(c))			1,864,000
Issuance of restricted stock and compensation cost, value (Note 11(c))	7,744		$ 19	7,725
Dividends on series B preferred stock Note 11(a)	$ (5,080)					(5,080)
Stock repurchased and retired, shares (Note 11(d))	(2,845,549)		(2,845,549)
Stock repurchased and retired, value (Note 11(d))	$ (25,349)		$ (28)	(25,321)
Other comprehensive income / (loss)	(911)				(911)
Balance of shares at Dec. 31, 2014		2,600,000	81,859,821
Balance at Dec. 31, 2014	1,282,226	$ 26	$ 819	971,280	(747)	310,848
Net loss	(64,713)					(64,713)
Issuance of restricted stock and compensation cost, shares (Note 11(c))			1,100,000
Issuance of restricted stock and compensation cost, value (Note 11(c))	8,279		$ 10	8,269
Dividends on series B preferred stock Note 11(a)	$ (5,769)					(5,769)
Stock repurchased and retired, shares (Note 11(d))	(413,804)		(413,804)
Stock repurchased and retired, value (Note 11(d))	$ (2,673)		$ (4)	(2,669)
Other comprehensive income / (loss)	1,016				1,016
Balance of shares at Dec. 31, 2015		2,600,000	82,546,017
Balance at Dec. 31, 2015	$ 1,218,366	$ 26	$ 825	$ 976,880	$ 269	$ 240,366

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash Flows from Operating Activities:
Net loss	$ (64,713)	$ (10,268)	$ (21,205)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization of deferred charges	76,333	70,503	64,741
Amortization of financing costs (Note 13)	1,364	519	473
Amortization of free lubricants benefit	(85)	(129)	(98)
Compensation cost on restricted stock (Note 11(c))	8,279	7,744	8,203
Actuarial gain / (loss)	1,016	(911)	(30)
Change in fair value of derivative instruments	0	(378)	(616)
(Income) / loss from equity method investments, net of dividends (Note 3)	5,133	(12,668)	5,094
(Increase) / Decrease in:
Receivables	1,871	(5,682)	5,889
Due from related parties	2,070	(604)	294
Inventories	1,062	(1,354)	(684)
Prepaid expenses and other assets	(349)	(1,091)	345
Prepaid charter revenue (Notes 2(k) and 8)	0	0	5,353
Other non-current assets	0	793	(793)
Increase / (Decrease) in:
Accounts payable	(739)	2,293	416
Due to related parties	(217)	60	(43)
Accrued liabilities, net of accrued preferred dividends	437	(11)	(479)
Deferred revenue	(865)	1	451
Other liabilities	(643)	554	135
Drydock costs	(6,009)	(4,461)	(46)
Net cash provided by Operating Activities	23,945	44,910	67,400
Cash Flows from Investing Activities:
Payments for vessel acquisitions, improvements and construction (Notes 5 and 6)	(155,352)	(111,702)	(198,581)
Acquisition of additional interest in Diana Containerships Inc. (Note 3(a))	0	(40,000)	0
Cash dividends from investment in Diana Containerships Inc. (Note 3(a))	193	763	4,000
Loan to Diana Containerships Inc. (Note 4(b))	0	0	(50,000)
Joint venture investment (Note 3(b))	(267)	0	0
Payments for plant, property and equipment (Note 7)	(211)	(1,574)	(575)
Net cash used in Investing Activities	(155,637)	(152,513)	(245,156)
Cash Flows from Financing Activities:
Proceeds from long-term debt (Note 9)	441,173	101,500	18,000
Proceeds from issuance of preferred stock, net of expenses (Note 11(a))	0	62,698	0
Cash dividends on preferred stock	(5,769)	(3,862)	0
Payments for repurchase of common stock (Note 11(d))	(2,673)	(25,349)	0
Financing costs	(5,482)	(527)	(452)
Loan payments (Note 9)	(321,240)	(48,589)	(45,783)
Net cash provided by / (used in) Financing Activities	106,009	85,871	(28,235)
Net decrease in cash and cash equivalents	(25,683)	(21,732)	(205,991)
Cash and cash equivalents at beginning of the year	218,901	240,633	446,624
Cash and cash equivalents at end of the year	193,218	218,901	240,633
Cash paid during the year for:
Interest, net of amounts capitalized	$ 13,048	$ 8,180	$ 7,169

Basis of Presentation and Gener

Basis of Presentation and General Information	12 Months Ended
	Dec. 31, 2015
Basis of Presentation and General Information [Abstract]
Basis of Presentation and General Information	1 . Basis of Presentation and General Information The accompanying consolidated financial statements include the ac counts of Diana Shipping Inc. ( or “DSI” ) and its wholly-owned and beneficially-owned subsidiaries (collectively, the “Company”). DSI was formed on March 8, 1999 as Diana Shipping Investment Corp. under the laws of the Republic of Liberia. In February 2005, the Company's articles of incorporation were amended. Under the amended articles of incorporation, the Company was renamed Diana Shipping Inc. and was re - domiciled from the Republic of Liberia to the Republic of the Marshall Islands. The Company is engaged in the ocean transportation of dry bulk cargoes worldwide mainly through the ownership of dry bulk carrier vessels. The Company also operates the majority of its own fleet through Diana Shipping Services S.A. ( or “DSS”) , a wholly - owned subsidiary and a limited number of vessels through a 50% owned joint venture (Notes 3 and 4 ). As at December 31, 2015, the following are whol ly- owned subsidiaries with operations that are included in the consolidation: a/a Company Vessel Flag Date Built Date Acquired Place of Incorporation PANAMAX VESSELS 1 Panama Compania Armadora SA Oceanis Bahamas May 2001 May 2001 Panama 2 Husky Trading SA Triton Bahamas Mar 2001 Mar 2001 Panama 3 Changame Compania Armadora SA Thetis Bahamas Aug 2004 Nov 2005 Panama 4 Buenos Aires Compania Armadora SA Alcyon Bahamas Feb 2001 Feb 2001 Panama 5 Skyvan Shipping Company SA Nirefs Bahamas Jan 2001 Jan 2001 Panama 6 Cypres Enterprises Corp. Protefs Bahamas Aug 2004 Aug 2004 Panama 7 Urbina Bay Trading SA Erato Bahamas Aug 2004 Nov 2005 Panama 8 Chorrera Compania Armadora SA Dione Greek Jan 2001 May 2003 Panama 9 Darien Compania Armadora SA Calipso Bahamas Feb 2005 Feb 2005 Panama 10 Texford Maritime SA Clio Bahamas May 2005 May 2005 Panama 11 Eaton Marine SA Danae Greek Jan 2001 Jul 2003 Panama 12 Vesta Commercial SA Coronis Marshall Islands Jan 2006 Jan 2006 Panama 13 Ailuk Shipping Company Inc. Naias Marshall Islands Jun 2006 Aug 2006 Marshall Islands 14 Taka Shipping Company Inc. Melite Marshall Islands Oct 2004 Jan 2010 Marshall Islands 15 Bikar Shipping Company Inc. Arethusa Greek Jan 2007 Jul 2011 Marshall Islands 16 Mandaringina Inc. Melia Marshall Islands Feb 2005 May 2012 Marshall Islands 17 Jemo Shipping Company Inc. Leto Marshall Islands Feb 2010 Jan 2012 Marshall Islands 18 Fayo Shipping Company Inc. Artemis Marshall Islands Sep 2006 Aug 2013 Marshall Islands 19 Erikub Shipping Company Inc. (Note 6) Crystalia Greek Feb 2014 Feb 2014 Marshall Islands 20 Wotho Shipping Company Inc. (Note 6) Atalandi Greek May 2014 May 2014 Marshall Islands KAMSARMAX VESSELS 21 Tuvalu Shipping Company Inc. Myrto Marshall Islands Jan 2013 Jan 2013 Marshall Islands 22 Jabat Shipping Company Inc. Maia Marshall Islands Aug 2009 Feb 2013 Marshall Islands 23 Makur Shipping Company Inc. Myrsini Marshall Islands Mar 2010 Oct 2013 Marshall Islands 24 Rairok Shipping Company Inc. (Note 6) Medusa Marshall Islands Apr 2010 Jun 2015 Marshall Islands POST-PANAMAX VESSELS 25 Majuro Shipping Company Inc. Alcmene Marshall Islands Jan 2010 Nov 2010 Marshall Islands 26 Guam Shipping Company Inc Amphitrite Marshall Islands Aug 2012 Aug 2012 Marshall Islands 27 Palau Shipping Company Inc. Polymnia Marshall Islands Nov 2012 Nov 2012 Marshall Islands CAPESIZE VESSELS 28 Jaluit Shipping Company Inc. Sideris GS Marshall Islands Nov 2006 Nov 2006 Marshall Islands 29 Bikini Shipping Company Inc. New York Marshall Islands Mar 2010 Mar 2010 Marshall Islands 30 Gala Properties Inc. Houston Marshall Islands Oct 2009 Oct 2009 Marshall Islands 31 Kili Shipping Company Inc. Semirio Marshall Islands Jun 2007 Jun 2007 Marshall Islands 32 Knox Shipping Company Inc. Aliki Marshall Islands Mar 2005 Apr 2007 Marshall Islands 33 Lib Shipping Company Inc. Boston Marshall Islands Nov 2007 Nov 2007 Marshall Islands 34 Marfort Navigation Company Ltd. Salt Lake City Cyprus Sep 2005 Dec 2007 Cyprus 35 Silver Chandra Shipping Company Ltd. Norfolk Cyprus Aug 2002 Feb 2008 Cyprus 36 Bokak Shipping Company Inc. Baltimore Marshall Islands Mar 2005 Jun 2013 Marshall Islands 37 Pulap Shipping Company Inc. PS Palios Marshall Islands Jan 2013 Dec 2013 Marshall Islands 38 Weno Shipping Company Inc. (Note 6) GP Zafirakis Marshall Islands Aug 2014 Aug 2014 Marshall Islands 39 Lelu Shipping Company Inc. (Note 5) Santa Barbara Marshall Islands Jan 2015 Jan 2015 Marshall Islands 40 Ujae Shipping Company Inc. (Note 6) New Orleans Marshall Islands Nov 2015 Nov 2015 Marshall Islands 41 Toku Shipping Company Inc. (Notes 6) Seattle Marshall Islands Apr 2011 Nov 2015 Marshall Islands NEWCASTLEMAX VESSELS 41 Lae Shipping Company Inc. Los Angeles Marshall Islands Feb 2012 Feb 2012 Marshall Islands 42 Namu Shipping Company Inc. Philadelphia Marshall Islands May 2012 May 2012 Marshall Islands UNDER CONSTRUCTION 43 Aster Shipping Company Inc. (Notes 5 and 10) H2548 - - Expected in 2016 Marshall Islands 44 Aerik Shipping Company Inc. (Notes 5 and 10) H2549 - - Expected in 2016 Marshall Islands 45 Houk Shipping Company Inc. (Notes 5 and 10) DY6006 - - Expected in 2016 Marshall Islands OTHER SUBSIDIARIES 46 Diana Shipping Services SA Management company Panama 47 Bulk Carriers (USA) LLC Company’s representative in the US Delaware - USA 48 Diana Ship Management Inc. (Note 3(b)) Intermediate holding company Marshall Islands Diana Shipping Services S.A. , or DSS , provides the Company and its vessels with management services since November 12, 2004, pursuant to management agreements and since October 1, 201 3 administrative services with regards to services related to DSI's operations and its subsidiaries . Such costs are eliminated in consolidation. Since April 2010 and until February 28, 2013, DSS provided to Diana Containerships Inc. (or “Diana Containerships”) and its vessels, administrative services and since June 2010 and until February 28, 2013, technical and commercial services (Note 4 ( b)). Gradually from August 2015 and until December 31, 2015 , DSS does not provide management services to six vessels in the Company's fleet whose management has been transferred to Diana Wilhelmsen Management Limited (Notes 3 ( b) and 4 (d) ). During 2015 , 2014 and 2013 , c harterers that individually accounted for 10% or more of the Company's time charter revenues were as follows: Charterer 2015 2014 2013 A 24% 10% B 20% C 12% 12% D 10% 15% 19% E 18% 17% F 11% G 11%

Significant Accounting Policies

Significant Accounting Policies and Recent Accounting Pronouncements	12 Months Ended
	Dec. 31, 2015
Significant Accounting Policies and Recent Accounting Pronouncements [Abstract]
Significant Accounting Policies and Recent Accounting Pronouncements	2 . Significant Accounting Policies Principles of Consolidation : The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles , and include the accounts of Diana Shipping Inc. and its wholly-owned subsidiaries referred to in Note 1 above. All intercompany balances and transactions have been eliminated upon consolidation. Use of Estimates: The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Other Comprehensive Income / ( loss ) : The Company separate ly present s certain transactions, which are recorded directly as components of stockholders' equity . Other Comprehensive Income / (Loss) is presented in a separate statement. Foreign Currency Translation: The functional currency of the Company is the U.S. d ollar because the Company's vessels operate in international shipping markets, and therefore primarily transact business in U.S. d ollars. The Company's account ing records are maintained in U.S. d ollars. Transactions involving other currencies during the year are converted into U.S. d ollars using the exchange rates in effect at the time of the transactions. At the balance sheet dates, monetary assets and liabilities which are denominated in other currencies are translated into U.S. d ollars at the year-end exchange rates. Resulting gains or losses are reflected separately in the accompanying consolidated statements of operations . Cash and Cash Equivalents: The Company considers highly liquid investments such as time deposits, certificates of deposit and their equivalents with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents may also include compensating cash balances kept against the Company's loan facilities that are not deemed to be sufficiently material to require segregation on the balance sheet. Such balances at December 31, 2015 and 2014 amounted to $21,500 and $19,500 in the aggregate and consisted of minimum cash deposits required to be maintained at all times under the Company's loan facilities (Note 9). Accounts Receivable, Trade: The amount shown as accounts receivable, trade , at each balance sheet date, includes receivables from charterers for hire , ballast bonus billings, if any, hold cleanings and extra voyage insurance, net of any provision for doubtful accounts. At each balance sheet date, all potentially uncollectible accounts are assessed individually for purposes of determining the appropriate provision for doubtful accounts. No provision for doubtful accounts was established as of December 31, 2015 and 2014 . Loan Receivable from Related Parties : The amounts shown as Due from related parties, current and non-current, in the consolidated balance sheet as at December 31, 2015 and 2014 , (Note 4 ( b)) represent amounts receivable from Diana Containerships Inc. with respect to a loan agreement with a wholly owned subsidiary of Diana Containerships Inc., net of any provision for credit losses. Interest income and fees, deriving from the agreement are recorded in the accounts as incurred. Costs incurred for the loan documentation were expensed as incurred. At each balance sheet date, amounts due under the aforementioned loan agreement are assessed for purposes of determining the appropriate provision for credit losses. In order to estimate the allowance for credit losses, the Company assesses at each period end the ability of Diana Containerships to meet its obligations under the loan agreement by taking into consideration existing economic conditions, the current financial condition of Diana Containerships Inc. and historical losses, if any, and any other risks/factors that may affect its future financial condition and its ability to meet its obligations. No provision for credit losses was established as of December 31, 2015 and 2014 , since there was no indication that Diana Containerships Inc. will not be able to meet its oblig ations under the loan agreement. Inventories : Inventories consist of lubricants and victualling which are stated at the lower of cost or market. Cost is determined by the first in, first out method. Inventories may also consist of bunkers when on the balance sheet date a vessel remains idle. Bunkers are also stated at the lower of cost or market and cost is determined by the first in, first out method. Vessel Cost: Vessels are stated at cost which consists of the contract price and any material expenses incurred upon acquisition or during construction . E xpenditures for conversions and major improvements are also capitalized when they appreciably extend the life, increase the earning capacity or improve the efficiency or safety of the vessels; otherwise these amounts are charged to expense as incurred. Interest cost incurred during the assets' construction periods that theoretically could have been avoided if expenditure for the assets had not been made is also capitalized. The capitalization rate, applied on accumulated expenditures for the vessel, is based on interest rates applicable to outstanding borrowings of the period. Property and equipment: The Company owns t he land and building where its offices are located. Land is presented in its fair value on the date of acquisition and it is not subject to depreciation . The building has an estimated useful life of 55 years with no residual value. Depreciation is calculated on a straight-line basis. Equipment consists of office furniture and equipment, computer software and hardware and vehicles which consist of motor scooters and a car . The useful life of the car is 10 year s , of the office furniture, equipment and the scooters is 5 years; and of the computer software and hardware is 3 years. Depreciation is calculated on a straight-line basis. Prepaid Charter Revenue : When the Company acquires a vessel with a time charter attached and the present value of the contractual cash flows of the time charter assumed is greater than its current fair value with reference to market data, the difference , capped to the vessel's fair value on a charter free basis, is recorded as prepaid charter revenue. Prepaid charter revenue is amortized to revenue over the peri od of the time charter assumed and is tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable (Note 8 ) . Impairment of Long-Lived Assets: L ong-lived assets (vessels, land, and building) and certain identifiable intangibles held and used by an entity are reviewed for impairment whenever events or changes in circumstances (such as market conditions, obsolesce or damage to the asset , potential sales and other business plans ) indicate that the carrying amount of the assets may not be recoverable. When the estimate of undiscounted projected net operating cash flows, excluding interest charges, expected to be generated by the use of the asset over its remaining useful life and its eventual disposition is less than its carrying amount, the Company should evaluate the asset for an impairment loss. Measurement of the impairment loss is based on the fair value of the asset. The Company determines the fair value of its assets based on management estimates and assumptions and by making use of available market data and taking into consideration third party valuations. With respect to the vessels, the Company determines undiscounted projected net operating cash flows for each vessel by considering the historical and estimated vessels' performance and utilization, assuming ( i ) future revenues calculated for the fixed days, using the fixed charter rate of each vessel from existing time charters and for the unfixed days, the most recent 10 year average of historical 1 year time charter rates available for each type of vessel over the remaining estimated life of each vessel, net of brokerage commissions. Historical ten-year blended average one-year time charter rates are in line with the Company's overall chartering strategy, they reflect the full operating history of vessels of the same type and particulars with the Company's operating fleet and they cover at least a full business cycle; (ii) expected outflows for scheduled vessels' maintenance; (iii) vessel operating expenses increasing annually by an annual inflation rate of 3%, which approximates current projections for global inflation rate; (iv) effective fleet utilization of 98% taking into account the period each vessel is expected to remain off hire for scheduled maintenance (dry docking and special surveys) and 1% off hire days (other than for dry docking and special surveys) each year, assumptions in line with the Company's historical performance and its expectations for future fleet utilization under its current fleet deployment strategy. The Company concluded based on this exercise that step two of the impairment analysis was not required and has not identified any facts or circumstances that would require the write down of vessel values as at December 31, 2015 or in the near future and n o impairment loss has been identified or recorded for 2015 , 2014 and 2013 . With respect to the land and building , t he Company determines undiscounted projected net operating cash flows by considering an estimated monthly rent the Company would have to pay in order to lease a similar property , during the useful life of the building . As at December 31, 2015, 2014 and 2013, no impairment loss was identified or recorded and the Company has not identified any other facts or circumstances that would require the write down of the value of its land or building in the near future. Vessel Depreciation : Depreciation is computed using the straight-line method over the estimated useful life of the vessels, after considering the estimated salvage (scrap) value. Each vessel's salvage value is equal to the product of its lightweight tonnage and estimated scrap rate. Management estimates the useful life of the Company's vessels to be 25 years from the date of initial delivery from the shipyard. Second hand vessels are depreciated from the date of their acquisition through their remaining estimated useful life. When regulations place limitations over the ability of a vessel to trade on a worldwide basis, its remaining useful life is adjusted at the date such regulations are adopted . Accounting for Dry-Docking Costs : The Company follows the deferral method of accounting for dry-docking costs whereby actual costs incurred are deferred and are amortized on a straight-line basis over the period through the date the next dry-docking is scheduled to become due. Unamortized dry-docking costs of vessels that are sold are written off and included in the calculation of the resulting gain or loss in the year of the vessel's sale . Financing Costs : Fees paid to lenders for obtaining new loans or refinancing existing ones are deferred and recorded as a contra to debt. Other fees paid for obtaining loan facilities not used at the balance sheet date are capitalized as deferred financing costs. Fees relating to drawn loan facilities are amortized to interest and finance costs over the life of the related debt using the effective interest method and fees incurred for loan facilities not used at the balance sheet date are amortized using the straight line method according to their availability terms. Unamortized fees relating to loans repaid or refinanced as debt extinguishment are expensed as interest and finance costs in the period the repayment or extinguishment is made. Loan commitment fees are charged to expense in the period incurred, unless they relate to loans obtained to finance vessels under construction, in which case they are capitalized to the vessels' cost. Concentration of Credit Risk: Financial instruments, which potentially subject the Company to significant concentrations of credit risk, consist principally of cash , trade accounts receivable and the loan receivable from a related party . The Company places its temporary cash investments, consisting mostly of deposits, with various qualified financial institutions and performs periodic evaluations of the relative credit standing of those financial institutions that are considered in the Company's investment strategy. The Company limits its credit risk with accounts receivable by performing ongoing credit evaluations of its customers' financial condition and generally does not require collate ral for its accounts receivable and does not have any agreements to mitigate credit risk. The Company limits its credit risk with the loan receivable by performing ongoing credit evaluations of Diana Containerships' financial condition. The loan agreement is guaranteed by Diana Containerships but does not have any collateral and the Company has not entered into any agreement to mitigate credit risk. Accounting for Revenues and Expenses: Revenues are generated from time charter agreements and are usually paid fifteen days in advance. Time charter agreements with the same charterer are accounted for as separate agreements according to the terms and conditions of each agreement. Time charter revenues are recorded over the term of the charter as service is provided. Income representing ballast bonus payments by the charterer to the vessel owner is recognized in the period earned. Revenues from time charter agreements providing for varying annual rates over their term are accounted for on a straight line basis. Compensation due to earlier redelivery tha n the minimum period agreed in the charter party is recognized in the period earned. Deferred revenue includes cash received prior to the balance sheet date for which all criteria to recogni ze as revenue have not been met. D eferred revenue may also include deferred revenue resulting from charter agreements providing for varying annual rates, which are accounted for on a straight line basis , or the unamortized balance of the liability associated with the acquisition of second-hand vessels with time charters attached which were acquired at values below fair market value at the date the acquisition agreement is consummated. Voyage expenses, primarily consisting of commissions, port, canal and bunker expenses that are unique to a particular charter, are paid for by the charterer under time charter arrangements, except for commissions, which are always paid for by the Company, regardless of charter type. All voyage and vessel operating expenses are expensed as incurred, except for commissions. Commissions are deferred over the related voyage charter period to the extent revenue has been deferred since commissions are due as the Company's revenues are earned. Repairs and Maintenance: All repair and maintenance expenses including underwater inspection expenses are expensed in the year incurred. Such costs are included in vessel operating expenses in the accompanying consolidated statements of operations . Earnings / (loss) per Common Share: Basic earnings / (loss) per common share are computed by dividing net income / (loss) available to common stockholders by the weighted average number of common shares outstanding during the year. Diluted earnings per common share, reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised. Segmental Reporting: The Company has determined that it operates under one reportable segment, relating to its operations of the dry-bulk vessels. The Company reports financial information and evaluates the operations of the segment by charter revenues and not by the length of ship employment for its customers, i.e. spot or time charters. The Company does not use discrete financial information to evaluate the operating results for each such type of charter. Although revenue can be identified for these types of charters, management cannot and does not identify expenses, profitability or other financial information for these charters. As a result, management, including the chief operating decision maker, reviews operating results solely by revenue per day and operating results of the fleet. Furthermore, when the Company charters a vessel to a charterer, the charterer is free to trade the vessel worldwide and, as a result, the disclosure of geographic information is impracticable. Fair Value Measurements : T he Company classifies and discloses its assets and liabilities carried at the fair value in one of the following categories: Level 1: Quoted market prices in active markets for identical assets or liabilities; Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data; Level 3: Unobservable inputs that are not corroborated by market data. Share Based Payment s : T he Company measure s the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost is recognized over the period during which an employee is required to provide service in exchange for the award—the requisite service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the requisite service. Employee share purchase plans will not result in recognition of compensation cost if certain conditions are met. The Company initially measures the cost of employee services received in exchange for an award or liability instrument based on its current fair value; the fair value of that award or liability instrument is re - measured subsequently at each reporting date through the settlement date. Changes in fair value during the requisite service period are recognized as compensation cost over that period with the exception of awards granted in the form of restricted shares which are measured at their grant date fair value and are not subsequently re - measured. The grant-date fair value of employee share options and similar instruments are estimated using option-pricing models adjusted for the unique characteristics of those instruments (unless observable market prices for the same or similar instruments are available). If an equity award is modified after the grant date, incremental compensation cost will be recognized in an amount equal to the excess of the fair value of the modified award over the fair value of the original award immed iately before the modification . Derivatives: The Company is exposed to interest rate fluctuations associated with its variable rate borrowings and its objective is to manage the impact of such fluctuations on earnings and cash flows of its borrowings. In this respect, in May 2009, the Company entered into a five-year zero cost collar agreement, novated in March 2012, and terminated in May 2014, to manage its exposure to interest rate changes related to its borrowings. The collar agreement was considered as an economic hedge agreement as it did not meet the criteria of hedge accounting; therefore, the change s in its fair value were recognized in earnings (Note 16 ). Equity method investments: Investments in common stock in entities over which the Company exercises significant influence, but does not exercise control are accounted for by the equity method of accounting. Under this method , the Company records such an investment at cost and adjusts the carrying amount for its share of the earnings or losses of the entity subsequent to the date of investment and reports the recognized earnings or losses in income. The Company also evaluates whether a loss in value of an investment that is other than a temporary decline should be recognized. Evidence of a loss in value might include absence of an ability to recover the carrying amount of the investment or inability of the investee to sustain an earnings capacity that would justify the carrying amount of the investment. Dividends received reduce the carrying amount of the investment. When the Company's share of losses in an entity accounted for by the equity method equals or exceeds its interest in the entity, the Company does not recognize further losses, unless the Company has made advances, incurred obligations and made payments on behalf of the entity. Variable Interest Entities: The Company evaluates financial instruments, service contracts, and other arrangements to determine if any variable interests relating to an entity exist, as the primary beneficiary would be required to include assets, liabilities, and the results of operations of the variable interest entity in its financial statements. The Company's evaluation did not result in an identification of variable interest entities as of December 31, 2015 and 2014 . Recent Accounting Pronouncement s In August 2014, the FASB issued Accounting Standards Update ("ASU" or “Update”) No. 2014-15 – Presentation of Financial Statements - Going Concern. ASU 2014-15 provides guidance about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. ASU 2014-15 requires an entity's management to evaluate at each reporting period based on the relevant conditions and events that are known at the date of financial statements are issued, whether there are conditions or events, that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued and to disclose the necessary information. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. In February 2015, the FASB issued the ASU 2015-02, “Consolidation (Topic 810)—Amendments to the Consolidation Analysis”, which amends the criteria for determining which entities are considered VIEs, amends the criteria for determining if a service provider possesses a variable interest in a VIE and ends the deferral granted to investment companies for application of the VIE consolidation model. The ASU is effective for interim and annual periods beginning after December 15, 2015. Early application is permitted. Management do es not expect the adoption of this ASU to have a material impact on Company's results of operations, financial position or cash flows. In July 2015, the FASB issued ASU No. 2015-11 –Inventory. ASU 2015-11 is part of FASB Simplification Initiative. Current guidance requires an entity to measure inventory at the lower of cost or market. Market could be the replacement cost, net realizable value or net realizable value less an approximately normal profit margin. Under this Update, the entities will be required to measure inventory at the lower of cost or net realizable value. Net realizable value is defined as estimate selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The amendments under the Update more closely align measurement of inventory in US GAAP with the measurement of inventory in IFRS. For public entities, the amendments of this Update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendments of this Update should be applied prospectively with early application permitted. Management do es not expect the adoption of this ASU to have a material impact on Company's results of operations, financial position or cash flows. In February 2016, the FASB issued ASU 2016-02 Leases (Topic 842) which provides new guidance related to accounting for leases and supersedes existing U.S. GAAP on lease accounting. The ASU will require organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases, unless the lease is a short term lease. Public business entities should apply the amendments in ASU 2016-02 for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted for all public business entities upon issuance. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. Management is in the process of assessing the impact of the new standard on the Company's consolidated financial position and performance . In March 2016, the FASB issued ASU No. 2016-07 “Investments—Equity Method and Joint Ventures “ to simplify the accounting for equity method investments. The amendments in the Update eliminate the requirement in Topic 323 that an entity retroactively adopt the equity method of accounting if an investment qualifies for use of the equity method as a result of an increase in the level of ownership or degree of influence. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor's previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting. For public companies, the new standard is effective for interim and annual periods beginning after December 15, 2016. Early adoption is permitted. Management does not believe that the adoption of the new standard will have any impact on its consolidated financial position, results of operations or cash flows and relevant disclosures.

Equity Method Investments

Equity Method Investments	12 Months Ended
	Dec. 31, 2015
Equity Method Investments [Abstract]
Equity Method Investments	3 . Equity Method Investment s Diana Containerships Inc. (“Diana Containerships”): On July 29, 2014, DSI invested $40,000 in Diana Containerships and acquired 15,936,255 additional shares increasing its ownership as at December 31, 2014 to 26.34% . As at December 31, 2015 , DSI owned 26.08% of the share capital of Diana Containerships . As at December 31, 2015 and 2014 , the investment in Diana Containerships amounted to $62,376 and $67,546 , respectively, and is included in “Equity method investment s ” in the accompanying consolidated balance sheets. As at December 31, 2015, the market value of the investment was $15,416 based on Diana Containerships' closing price on Nasdaq of $0.80 . For 2015 , 2014, and 2013, the investment in Diana Containerships resulted in loss of $4,977 , income of $12,668 , and loss of $6,094 , respectively, which is included in “Income/(loss) from equity method investment s” in the accompanying consolidated statement s of operations . Also for 2015 , 2014, and 2013, DSI received d ividends from Diana Containerships amounting to $193 , $763 and $4,000 , respectively . Diana Wilhelmsen Management Limited (“ DWM ”): DWM is a joint venture which was established o n May 7, 2015 by Diana Ship Management Inc., a wholly owned subsidiary of DSI , and Wilhelmsen Ship Management Holding Limited, an unaffiliated third party, each holding 50% of DWM. As at December 31, 2015, DWM provide d management services to six vessels of the Company's fleet (Note 4 ( d)) . The DWM office is located in Limassol, Cyprus. As at December 31, 2015, the investment in DWM amounted to $111 and is included in “Equity method investment s ” in the accompanying 2015 consolidated balance sheet . From DWM's formation until December 31, 2015, loss from investment amounted to $156 and is included in “Income /( loss) from equity method investment s” in the accompanying 2015 consolidated statement of operations .

Transactions with Related Parti

Transactions with Related Parties	12 Months Ended
	Dec. 31, 2015
Transactions wtih Related Parties [Abstract]
Transactions with Related Parties	4 . Transactions with Related Parties Altair Travel Agency S.A. (“Altair”): The Company uses the services of an affiliated travel agent, Altair, which is controlled by the Company's CEO and Chairman of the Board . Travel expenses for 2015 , 2014 and 2013 amounted to $2,685 , $2,765 and $2,640 , respectively, and are mainly included in “ Vessels ” , “ Advances for vessels under construction and acquisitions and other vessel costs ” , “ Vessel operating expenses ” and “ General and administrative expenses ” in the accompanying consolidated financial statements. At December 31, 2015 and 2014, an amount of $62 and $281 , respectively, was payable to Altair and is included in “ Due to related parties ” in the accompanying consolidated balance sheets. Diana Containerships Inc.: Until February 28, 2013, DSS received from Diana Containerships management and administrative fees pursuant to management and administrative services agreements between Diana Containerships, its vessel owning companies , and DSS . During 2013 , revenue derived from these agreements until their termination, amounted to $447 and is separately presented as “ Other revenues ” in the accompanying 2013 consolidated statement of operations. On May 20, 2013, DSI 's Independent Committee of the Board of Directors and the Board of Directors approved to provide to Eluk Shipping Company In c., a subsidiary of Diana Containerships, a five year unsecured loan of up to $50,000 to be used for general corporate purposes and working capital , which was drawn on August 20, 2013 . The loan, until the amendment discussed below, bore interest at LIBOR plus a margin of 5% and a back-end fee equal to 1.25% per annum on the outstanding amount of the loan payable by the borrower on the repayment date of the loan. On July 30, 2015 , DSI 's Independent Committee of the Board of Directors and the Board of Directors approved an amendment to the loan, pursuant to which as of September 9, 2015, the date of the amendment, t he loan mature s on March 15, 2022 ; bear s interest at LIBOR plus a margin of 3 % per annum ; the back-end fee would accumulate up to and became payable on the date of the amendmen t ; and the borrower will pay to the lender a fee of $200 on the maturity date . In addition, the borrower agreed to repay the principal amount of the loan on the last day of each interest period in amounts totalling $5,000 per annum , but not to exceed $32,500 in the aggregate. The loan is subordinated to Diana Containerships ' loan with the Royal Bank of Scotland. As at December 31, 2015, there was an amount of $5,103 due from Diana Containerships included in “ Due from related parties, current ” and $43,750 due from Diana Containerships, separately presented in “ Due from related parties , non-current ” , in the related accompanying consolidated balance sheet . As at December 31, 2014, similarly, there was an amount of $57 and $50,866 due from Diana Containerships current and non-current, respectively . D uring 2015 , 2014 and 2013 income from interest and fees amounted to $2,745 , $3,246 and $1,196 , respectively, and is included in “ Interest and other income ” in the accompanying consolidated statement s of operations . Diana Enterprises Inc. (“Diana Enterprises”): Diana Enterprises is a company controlled by the Company's CEO and Chairman of the Board which provide s brokerage services to DSI pursuant to a Brokerage Services Agreement for a fixed fee . During 2015, 2014 and 2013 brokerage fees amounted to $1,302 , $1,250 and $2,481 , respectively, and are included in “ General and administrative expenses ” in the accompanying consolidated statements of operations. As of December 31, 2015 and 2014, there was no amount due to Diana Enterprises included in the accompanying consolidated balance sheet s. Until March 1, 2013, DSS had an agreement with Diana Enterprises to provide brokerage services to Diana Containerships, which was terminated when DSS ceased from being the management company of the Diana Containerships' group. Diana Wilhelmsen Management Limited (“DWM”) : As of December 31, 2015, DWM provided management services to six vessels of the Company's fleet for a fixed monthly fee and commercial services charged as a percentage of the vessels' gross revenues . Management fees for the period from each vessel's delivery to the management of DWM to December 31, 2015, amounted to $405 and are separately presented as “Management fees to related party ” in the 2015 accompanying consolidated statement of operations whereas commercial fees amounted to $43 and are included in “Voyage expenses” (Note 12) . As at December 31, 2015, there was an amount of $2 due to DWM , included in “ Due to related parties ” in the related accompanying consolidated balance sheet.

Advances for Vessels under Cons

Advances for Vessels under Construction and Acquisitions and Other Vessel Costs	12 Months Ended
	Dec. 31, 2015
Advances For Property Plant And Equipment [Abstract]
Advances for Vessels under Construction and Acquisitions and Other Vessel Costs	5 . Advances for Vessels under Construction and Acquisition s and Other Vessel Costs In May 2013, Aster Shipping Company Inc. and Aerik Shipping Company Inc. , each entered into a shipbuilding contract with unrelated third parties for the construction of a Newcastlemax dry bulk carrier for the aggregate price of $97,400 . The vessels are expected to be delivered in 2016. In January 2014, Houk Shipping Company Inc. , entered into a shipbuilding contract with unrelated third parties for the construction of a Kamsarmax dry bulk carrier for a contract price of $28,825. The vessel is expected to be delivered in 2016. In December 2014, Lelu Shipping Company Inc. entered into a memorandum of agreement with an unrelated third party to acquire a newbuilding Capesize dry bulk vessel, named Santa Barbara , for a purchase price of $50,000. The vessel was delivered in January 2015 (Note 6). As at December 31, 2015, the remaining contractual obligations amounted to $83,487 (Note 10) . The amounts in the accompanying consolidated balance sheets include payments to sellers of vessels or, in the case of vessels under construction, to the shipyards and other costs capitalized in accordance with the Company's related accounting policy (Note 2( i )) . The movement of the account during 2015 and 2014 was as follows: 2015 2014 Beginning balance $ 29,500 $ 38,862 - Advances for vessels under construction and other vessel costs 25,080 43,160 - Advances for vessel acquisitions and other vessel costs 40,105 10,066 - Transferred to vessel cost (Note 6) (50,171) (62,588) Ending balance $ 44,514 $ 29,500

Vessels

Vessels	12 Months Ended
	Dec. 31, 2015
Vessels [Abstract]
Vessels	6. Vessels The amounts in the accompanying consolidated balance sheets are analyzed as follows: Vessel Cost Accumulated Depreciation Net Book Value Balance, December 31, 2013 $ 1,686,590 $ (366,215) $ 1,320,375 - Transfer from advances for vessels under construction and acquisition and other vessel costs (Note 5) 62,588 - 62,588 - Acquisitions, improvements and other vessel costs 58,476 - 58,476 - Depreciation for the year - (68,306) (68,306) Balance, December 31, 2014 $ 1,807,654 $ (434,521) $ 1,373,133 - Transfer from advances for vessels under construction and acquisition and other vessel costs (Note 5) 50,171 - 50,171 - Acquisitions, improvements and other vessel costs 90,167 - 90,167 - Depreciation for the period - (72,668) (72,668) Balance, December 31, 2015 $ 1,947,992 $ (507,189) $ 1,440,803 During 2014, the Company took delivery of “ Crystalia ” and “ Atalandi ”, which until then were under construction and additionally acquired the Capesize dry bulk carrier “GP Zafirakis” for $58,000, which was delivered in August 2014. On April 20, 2015, Ujae Shipping Company Inc. , entered into an agreement to acquire from a n unrelated third party a new-building Capesize dry bulk vessel , named New Orleans , for a purchase price of $43 ,000 . The vessel was delivered on November 10, 2015 . On April 27, 2015, Rairok Shipping Company Inc. entered into a m emorandum of a greement with an unrelated third party to acquire a Kamsarmax dry bulk vessel , renamed to Medusa, for a purchase price of $18 , 05 0 . The vessel was delivered in June 2015 . On November 2, 2015, Toku Shipping Company Inc. entered into a memorandum of agreement with an unrelated third party to acquire a Capesize dry bulk vessel, named Seattle, for a purchase price of $28,5 0 0. The vessel, was delivered in November 2015.

Property and equipment, net

Property and equipment, net	12 Months Ended
	Dec. 31, 2015
Property and Equipment, Net [Abstract]
Property and equipment, net	7. Property and equipment, net The amounts in the accompanying consolidated balance sheets are analyzed as follows: Property and Equipment Accumulated Depreciation Net Book Value Balance, December 31, 2013 $ 24,680 $ (1,854) $ 22,826 - Write off of fully depreciated assets (100) 100 - - Additions in property and equipment 1,574 - 1,574 - Depreciation for the year - (513) (513) Balance, December 31, 2014 $ 26,154 $ (2,267) $ 23,887 - Additions in property and equipment 211 - 211 - Depreciation for the period - (609) (609) Balance, December 31, 2015 $ 26,365 $ (2,876) $ 23,489 In December 2014, DSS acquired jointly with two other related entities , f rom unrelated individuals , a plot of land for an aggregate purchase price of € 2.0 million or $2, 489 (based on the exchange rate of the U.S. dollar to Euro as of the date of acquisition ) . DSS paid 1/3 of the purchase price amounting to $8 86 , in cluding additional purchase costs incurred . The plot is under the common ownership of the joint purchasers .

Prepaid charter revenue

Prepaid charter revenue	12 Months Ended
	Dec. 31, 2015
Prepaid Charter Revenue [Abstract]
Prepaid charter revenue	8 . Prepaid charter revenue In May 2009, on the acquisition of the vessel “Houston”, Gala Properties Inc. paid an amount in excess of the predelivery installments for the construction of the vessel, which was recognized in asset s as Prepaid charter revenue. Th is amount had been amortized in revenues since the delivery of the vessel to the time charterers. On November 26, 2013, the charterers terminated the charter earlier than the termination date determined under the terms of the charter party and redelivered the vessel to the owners, who started arbitration proceedings against the charterers seeking to mitigate their losses as a result of the early termination . As a result of this earlier termination of the charter party , the unamortized balance of prepaid charter revenue amounting to $5,353 was fully amortized against Time charter revenues during 2013 .

Long-term debt, current and non

Long-term debt, current and non-current	12 Months Ended
	Dec. 31, 2015
Long Term Debt, current and non-current [Abstract]
Long-term debt, current and non-current	9. Long-term debt, current and non-current The amount of long-term debt shown in the accompanying consolidated balance sheets is analyzed as follows: 2015 2014 Revolving Credit Facility $ - $ 210,000 8.5% Senior Unsecured Notes 63,250 - Secured Term Loans 542,691 276,008 Total debt outstanding $ 605,941 $ 486,008 Less related deferred financing costs (5,870) (1,752) Total debt, net of deferred financing costs $ 600,071 $ 484,256 Less: Current portion of long term debt, net of deferred financing costs current (40,984) (78,734) Long-term debt, net of current portion and deferred financing costs, non-current $ 559,087 $ 405,522 R evolving credit facility : O n February 18, 2005, the Company entered into a secured revolving credit facility with the Royal Bank of Scotland for $230,000 which was increased to $300,000 o n May 24, 2006 with an amended agreement. O n July 22, 2015 the Company entered into a term loan agreement with BNP Paribas in order to refinance the outstanding balance of the revolving credit facility. In this respect on July 24, 2015 , the outstanding balance of the revolving credit facility amounting to $195,000 was voluntarily prepaid in full and the related agreement was then terminated . Until its full prepayment, t he credit facility was reducing in semi-annual amounts of $15,000 with a final reduction of $165,000 together with the last semi-annual reduction on May 24, 2016 . T he credit facility bore interest at LIBOR plus a margin ranging from 0.75% to 0.85%. The weighted average interest rate of the facility as of December 31, 2015 and 2014 was 0.90% and 0.95%, respectively. Secured Term Loans : The Company, through its subsidiaries, has entered into various long term loan agreements with bank institutions to partly finance or, as the case may be, refinance part of the acquisition cost of certain of its fleet vessels. The loan agreements are repayable in quarterly or semi - annual installments plus one balloon installment per loan agreement to be paid together with the last installment and bear interest at LIBOR plus margin ranging from 1 % to 3% . The weighted average interest rate of the Secured Term Loans as at December 31, 2015 and 2014 was 2.47% and 2.68%, respectively. Their maturities range from February 201 9 to November 2022 . During 2014 and 2015, the Company entered into the following agreements: On January 9, 2014, the Company, through two separate wholly-owned subsidiaries, entered into a loan agreement with Commonwealth Bank of Australia, London Branch, for a loan facility of up to $18,000, drawn on January 13, 2014, to finance part of the acquisition cost of the Melite and Artemis . The loan bears interest at LIBOR plus a margin of 2.25%. The loan was drawn in Tranche A of $8,500 and Tranche B of $9,500. Tranche A is repayable in 24 equal consecutive quarterly installments of about $196 each and a balloon of $3,800 payable together with the last installment on January 13, 2020. Tranche B is repayable in 32 equal consecutive quarterly installments of about $156 each and a balloon of $4,500 payable together with the last installment on January 13, 2022. On December 18, 2014, the Company, through two separate wholly-owned subsidiaries, entered into a loan agreement with BNP Paribas, for a loan facility of up to $55,000, of which $53,500 was drawn on December 19, 2014. The loan bears interest at LIBOR plus a margin of 2% and is repayable in 14 equal semi-annual installments of about $1,574 and a balloon of about $31,46 6 payable on November 30, 2021. On March 17, 2015, the Company, through eight separate wholly-owned subsidiaries, entered into a loan agreement with Nordea Bank AB, London Branch for a secured term loan facility of up to $110,000, to refinance the existing indebtedness with the bank and for general corporate and working capital purposes. On March 19, 2015, the Company drew down $93,080 and repaid the then existing indebtedness with the bank amounting to $38,345. The loan is repayable in 24 equal consecutive quarterly installments of about $1,862 and a balloon of about $48,402 payable together with the last installment on March 19, 2021. The loan bears interest at LIBOR plus a margin of 2.1% . On March 10 , 2015, the Company repaid in full the then outstanding indebtedness with Deutsche Bank for the vessel New York amounting to $28,600. In addition on March 20, 2015 the Company prepaid the then outstanding indebtedness with Deutsche Bank for the vessels Myrto and Maia amounting to $15,750 and the agreement was terminated. On March 26, 2015, the Company, through three wholly-owned subsidiaries , entered into a loan agreement with ABN AMRO Bank N . V . for a secured term loan facility of up to $53,000, to refinance part of the acquisition cost of the vessels New York , Myrto and Maia . On March 30, 2015, the Company drew down the amount of $50,160 under the loan facility, which is repayable in 24 equal consecutive quarterly installments of about $994 and a balloon of $26,310 payable together with the last installment on March 30, 2021. The loan bears interest at LIBOR plus a margin of 2.0% . On April 29, 2015, the Company, through one wholly-owned subsidiar y , entered into a term loan agreement with Danish Ship Finance A/S for a loan facility of $30 , 0 00, drawn on April 30, 2015 to partly finance the acquisition cost of the Santa Barbara , which was delivered in January 2015. The loan is repayable in 28 equal consecutive quarterly installments of $ 500 each and a balloon of $16 ,00 0 payable together with the last installment on April 30, 2022. The loan bears interest at LIBOR plus a margin of 2.15%. On July 22, 2015, the Company entered into a term loan agreement with BNP Paribas for a loan of $165,000 drawn on July 24, 2015. The loan is repayable in 20 consecutive quarterly instal l ments, the first eight installments in an amount of $2,500, followed by four installments in an amount of $5,000; eight instal l ments in an amount of $7,000; and a balloon installment of $69,000 payable together with the last installment on July 2 4 , 2020. The loan bears interest at LIBOR plus a margin of 2.35% per annum for the first two year s ; 2.3% per annum for the third year and 2.25% per annum until the final maturity of the loan. On September 30 , 2015, the Company , through two wholly-owned subsidiaries, entered into a term loan agreement with ING Bank N.V. for a loan of up to $ 39,683, available in two advances to finance part of the acquisition cost of the New Orleans and the Medusa . Advance A of $27,950 was drawn on November 19, 2015 and is repayable in 28 consecutive quarterly insta l lments of about $466 and a balloon installment of about $ 14,907 payable together with the last installment on November 19, 2022 . A dvance B of $11,733 was drawn on October 6, 2015 and is repayable in 28 consecutive quarterly insta l lments of about $ 293 and a balloon installment of about $ 3,520 payable together with the last installment on October 6, 2022. The loan bears interest at LIBOR plus a margin of 1.65%. Under the secured term loans outstanding as of December 31, 2015 , 42 vessels of the Company's fleet are mortgaged with first preferred or priority ship mortgage s , where applicable. Additional securities required by the banks include first priority assignment of all earnings, insurances, first assignment of time charter contracts that exceed a certain period , pledge over the shares of the borrowers, manager's undertaking and subordination and requisition compensation and either a corporate guarantee by DSI (the “Guarantor”) or a guarantee by the ship owning companies (where applicable) , financial covenants, as well as operating account assignments. The lenders may also require additional security in the future in the event the borrowers breach certain covenants under the loan agreements. The secured term loans generally include restrictions as to changes in management and ownership of the vessels, additional indebtedness, as well as minimum requirements regarding hull cover ratio and minimum liquidity per vessel owned by the borrowers , or the g uarantor , maintained in the bank accounts of the borrowers , or the g uarantor. Furthermore, certain of the s ecured t erm l oans contain cross default provisions and additionally the Company is not permitted to pay any dividends from the earnings of the vessel following the occurrence of an event of default. As of December 31, 2015, the Company was not in compliance with the minimum required hull cover ratio of one of its term loan agreements , creating a shortfall of $1,419. T he Company received a waiver by the bank , which covers the period from December 31, 2015 up to and including December 31, 2016 , amending the ratio to a lower level and with the requirement to provide updated valuations by July 31, 2016. Commitment Letter: T he Company has accepted a commitment letter from the Export-Import Bank of China to provide a loan to the three vessels under construction expected to be delivered in 2016 (Note 5) for an amount of up to $75,735 (Note 17) . 8.5% Unsecured Senior Notes : O n May 20, 2015, the Company offered $ 63,250 aggregate principal amount of 8.5% Senior Notes due 2020 (the “Notes”) , including an overallotment , at the price of $25.0 per N ote , pursuant to an approval obtained by a special committee of the Board of Directors . As part of the offering, the un derwriters sold $12 , 75 0 aggregate principal amount of the Notes to, or to entities affiliated with, the Company's chief executive officer, Mr. Simeon Palios, and other executive officers and certain directors of the Company at the public offering price. The proceeds, net of underwriting discount and offering expenses , amounting to $61, 180 , are included in “Long-term debt, net of deferred financing costs, non-current” in the related consolidated balance sheet. As of May 29, 2015, the Notes are trading on the NYSE under the ticker symbol “DSXN”. The Notes bear interest from May 28, 2015 at a rate of 8.5% per year and will mature on May 15, 2020. Interest is payable quarterly in arrears on the 15th day of February, May, August and November of each year, commencing on August 15, 2015. The Company may redeem the Notes at its option, in whole or in part, at any time on or after May 15, 2017 at a redemption price equal to 100% of the principal amount to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date . The Notes include financial and other covenants, including maximum net borrowings and minimum tangible net worth. As at December 31, 2015, the Company's fleet , except for Seattle , having an aggregate carrying value of $1,412,382 has been provided as collateral to secure the debt facilities. As at December 31, 2015 and 2014, the maximum amount required by the banks as compensating cash balance amounted to $21,500 and $19,500 , respectively . The maturities of the Company's debt facilities described above, as at December 31 , 2015 , and throughout their term, are shown in the table below . T he table does not include the right of lenders of a secured term loan to demand repayment of the balance of the loan outstanding within the first semester of 2018, subject however to written notification by the lender(s) to the borrower(s) no earlier than within calendar year 2016 and not later than within calendar year 2017: Period Principal Repayment January 1, 2016 to December 31, 2016 $ 42,450 January 1, 2017 to December 31, 2017 44,950 January 1, 2018 to December 31, 2018 54,450 January 1, 2019 to December 31, 2019 83,450 January 1, 2020 to December 31, 2020 183,312 January 1, 2021 and thereafter 197,329 Total $ 605,941

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies [Abstract]
Commitments and Contingencies	10 . Commitments and Contingencies Various claims, suits, and complaints, including those involving government regulations and product liability, arise in the ordinary course of the shipping business. In addition, losses may arise from disputes with charterers, agents, insurance and other claims with suppliers relating to the operations of the Company's vessels. The Company accrues for the cost of environmental and other liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure. The Company's vessels are covered for pollution in the amount of $1 billion per vessel per incident, by the P&I Association in which the Company's vessels are entered. The Company's vessels are subject to calls payable to their P&I Association and may be subject to supplemental calls which are based on estimates of premium income and anticipated and paid claims. Such estimates are adjusted each year by the Board of Directors of the P&I Association until the closing of the relevant policy year, which generally occurs within three years from the end of the policy year. Supplemental calls, if any, are expensed when they are announced and according to the period they relate to. The Company is not aware of any supplemental calls in respect of any policy year that should be recorded in its consolidated financial statements . The Company has shipbuilding contracts for the construction of two N ewcastlemax dry bulk carriers and one Kamsarmax dry bulk carrier (Note 5 ) . As at December 31, 2015, the total obligations under these contracts amounted to $83,487 . As at December 31, 2015, t he minimum contractual gross charter revenues expected to be generated from fixed and non-cancelable time charter contracts existing as at December 31, 2015 and until their expiration were as follows: Period Amount Year 1 $ 69,036 Year 2 3,980 Total $ 73,016

Capital Stock and Changes in Ca

Capital Stock and Changes in Capital Accounts	12 Months Ended
	Dec. 31, 2015
Capital Stock and Changes in Capital Accounts [Abstract]
Capital Stock and Changes in Capital Accounts	11 . Capital Stock and Change s in Capital Accounts Preferred stock : As at December 31, 2015 and 2014, t he Company's authorized preferred stock consist s of 25,000,000 shares (all in registered form) of preferred stock, par value $0.01 per share, of which 1,000,000 are designated as Series A Participating Preferred Shares ; and 5,000,000 are designat ed as Series B Preferred Shares . On February 24, 2014, the Company completed a public offering of 2,600,000 shares of Series B Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, at $25.0 per share and with liquidation preference at $25.0 per share . The net proceeds from the offering (after the underwriting discount and other offering expenses payable by the Company) were $62,698 . Holders of s eries B p referred s hares have no voting rights other than the ability, subject to certain exceptions, to elect one director if dividends for six quarterly dividend periods (whether or not consecutive) are in arrears and certain other limited protective voting rights. Also, holders of s eries B p referred s hares, rank prior to the holders of common shares with respect to dividends, distributions and payments upon liquidation. As at December 31, 2015 and 2014, the Company had 2,600,000 of Series B Preferred Shares issued and outstanding and none issued and outstanding of Series A Preferred Shares . Dividends on the Series B preferred shares are cumulative from the date of original issue and are payable on the 15th day of January, April, July and October of each year at the dividend rate of 8.875% per annum , or $2 . 21875 per share per annum . For 2015 and 2014 , dividends on Series B preferred shares amount ed to $5,769 and $5,080 , respectively . At any time on or after February 14, 2019, the Company may redeem , in whole or in part, the series B preferred shares at a redemption price of $25.00 per share plus an amount equal to all accumulated and unpaid dividends thereon to the date of redemption, whether or not declared. Common Stock : T he Company's authorized capital stock consists of 200,000,000 shares (all in registered form) of common stock, par value $0.01 per share . The holders of the common shares are entitled to one vote on all matters submitted to a vote of stockholders and to receive all dividends, if any. Incentive plan : In May 2011, the Company's board of directors approved to adopt the 2011 Equity Incentive Plan. Under the 2011 Equity Incentive Plan, an aggregate of 5,000,000 common shares were reserved for issuance, of which as at December 31, 2015 1,384,759 remained reserved for issuance . In November 2014, the Company's board of directors approved to adopt the 2014 Equity Incentive Plan, for 5,000,000 additional shares , all of which have been reserved for issuance . The plan s entitle the Company's employees, officers and directors to receive options to acqu ire the Company's common stock and is administered by the Compensation Committee of the Company's Board Directors or such other committee of the Board as may be designated by the Board to administer the Plan . Under the terms of the plan s , the Company's Board of Directors is able to grant a) incentive stock options, b) non-qualified stock options, c) stock appreciation rights, d) dividend equivalent rights, e) restricted stock, f) unrestricted stock, g) restricted stock units, and h) performance shares. No options, stock appreciation rights or restricted stock units can be exercisable prior to the first anniversary or subsequent to the tenth anniversary of the date on which such award was granted. The Company follows the provisions in ASC 718 “Compensation – Stock Compensation”, for purposes of accounting for such share-based payments. All share-based compensation provided to employees is recognized in accordance with the relevant guidance , and is i ncluded in General and administrative expenses in the accompanying consolidated statement s of operations . Restricted stock during 2015, 2014 and 2013 is analysed as follows: Number of Shares Weighted Average Grant Date Price Outstanding at December 31, 2012 1,451,625 $ 11.90 Granted 607,946 9.06 Vested (701,198) 12.64 Outstanding at December 31, 2013 1,358,373 $ 10.25 Granted 1,864,000 9.38 Vested (730,539) 11.25 Outstanding at December 31, 2014 2,491,834 $ 9.30 Granted 1,100,000 6.91 Vested (827,522) 9.57 Outstanding at December 31, 2015 2,764,312 $ 8.27 The fair value of the restricted shares has been determined with reference to the closing price of the Company's stock on the date the agreements were signed. The aggregate compensation cost is being recognized ratably in the consolidated statement of operations over the respective vesting periods. For 2015 , 2014 and 2013 , an amount of $8,279 , $7,744 , and $8,203 , respectively, was recognized in “ General and administrative expenses ” presented in the accompanying consolidated statements of operations . At December 31, 2015 and 2014, the total unrecognized cost relating to restricted share awards was $17,021 and $17,698 , respectively. At December 31, 2015, the weighted-average period over which the total compensation cost related to non-vested awards not yet recognized is expected to be recognized is 1.70 years. Share Repurchase Agreement: On May 2 2 , 2014, the Company's Board of Directors authorized a share repurchase plan for up to $100,000 worth of shares of the Company's common stock , under which, during 2015 and 2014 , the Company repurchased and retired 413,804 shares at an aggregate cost of approximately $2,673 and 2,845,549 shares at an aggregate cost of approximately $25,349 , respectively.

Voyage and Vessel Operating Exp

Voyage and Vessel Operating Expenses	12 Months Ended
	Dec. 31, 2015
Voyage And Vessel Operating Expenses [Abstract]
Voyage and Vessel Operating Expenses	12. Voyage and Vessel Operating Expenses The amounts in the accompanying consolidated statements of operations are analyzed as follows: 2015 2014 2013 Voyage Expenses Bunkers $ 7,522 $ 2,026 $ (62) Commissions charged by third parties 7,632 8,245 7,939 Commissions charged by a related party (Note 4(d)) 43 - - Miscellaneous 331 394 242 Total $ 15,528 $ 10,665 $ 8,119 Vessel Operating Expenses Crew wages and related costs $ 50,494 $ 50,442 $ 45,451 Insurance 6,778 6,723 6,438 Spares and consumable stores 16,913 17,106 14,825 Repairs and maintenance 9,094 8,379 5,548 Tonnage taxes (Note 15) 2,144 2,109 1,040 Environmental costs 1,727 1,314 2 Other operating expenses 1,122 850 3,907 Total $ 88,272 $ 86,923 $ 77,211

Interest and Finance Costs

Interest and Finance Costs	12 Months Ended
	Dec. 31, 2015
Interest and Finance Costs [Abstract]
Interest and Finance Costs	13. Interest and Finance Costs The amounts in the accompanying consolidated statements of operations are analyzed as follows: 2015 2014 2013 Interest expense $ 13,922 $ 7,815 $ 7,600 Amortization of financing costs 1,364 519 473 Commitment fees and other costs 269 93 67 Total $ 15,555 $ 8,427 $ 8,140 Total interest incurred on long-term debt for 2015 , 2014 and 2013 amounted to $14,622 , $8,221 and $8,068 , respectively , o f which $700 , $406 and $468 respectively, were capitalized and included in “ Vessels ” and in “ Advances for vessels under construction and acquisitions and other vessel costs ” .

Loss per Share

Loss per Share	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Loss Per Share	14. L oss per S hare All common shares issued (including the restricted shares issued under the Company's 2011 Incentive Plan) are the Company's common stock and have equal rights to vote and participate in dividends upon their vesting. The calculation of basic earnings /( loss) per share does not treat the non-vested shares (not considered participating securities) as outstanding until the time/service-based vesting restriction has lapsed. For the purpose of calculating diluted earnings per share the weighted average number of diluted shares outstanding includes the incremental shares assumed issued determined in accordance with the treasury stock method. For 2015 , 2014 and 2013 , and on the basis that the Company incurred losses, the effect of incremental shares would be anti-dilutive and t herefore basic and diluted loss per share was the same. Profit or loss attributable to common equity holders is adjusted by the amount of dividends accrued on Series B Preferred Stock as follows: 2015 2014 2013 Net loss $ (64,713) $ (10,268) $ (21,205) Less dividends on series B preferred shares $ (5,769) $ (5,080) $ - Net loss attributed to common stockholders (70,482) (15,348) (21,205) Weighted average number of common shares, basic and diluted 79,518,009 81,292,290 81,328,390 Loss per share, basic and diluted $ (0.89) $ (0.19) $ (0.26)

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Taxes [Abstract]
Income Taxes	15. Income Taxes Under the laws of the countries of the companies' incorporation and / or vessels' registration, the companies are not subject to tax on international shipping income; however, they are subject to registration and tonnage taxes, which are included in vessel operating expenses in the accompanying consolidated statements of operations (Note 12) . Pursuant to the Internal Revenue Code of the United States (the “Code”), U.S. source income from the international operations of ships is generally exempt from U.S. tax if the company operating the ships meets both of the following requirements, (a) the Company is organized in a foreign country that grants an equivalent exception to corporations organized in the United States and (b) either ( i ) more than 50% of the value of the Company's stock is owned, directly or indirectly, by individuals who are “residents” of the Company's country of organization or of another foreign country that grants an “equivalent exemption” to corporations organized in the United States (50% Ownership Test) or (ii) the Company's stock is “primarily and regularly traded on an established securities market” in its country of organization, in another country that grants an “equivalent exemption” to United States corporations, or in the United States (Publicly -Traded Test). Notwithstanding the foregoing, the regulations provide, in pertinent part, that each class of the Company's stock will not be considered to be “regularly traded” on an established securities market for any taxable year in which 50% or more of the vote and value of the outstanding shares of such class are owned, actually or constructively under specified stock attribution rules, on more than half the days during the taxable year by persons who each own 5% or more of the value of such class of the Company's outstanding stock, (“5 Percent Override Rule”). The Company and each of its subsidiaries expects to qualify for this statutory tax exemption for the 2015, 2014 and 2013 taxable years, and the Company takes this position for United States federal income tax return reporting purposes. However, there are factual circumstances beyond the Company's control that could cause it to lose the benefit of this tax exemption in future years and thereby become subject to United States federal income tax on its United States source income such as if, for a particular taxable year, other shareholders with a five percent or greater interest in the Company's stock were, in combination with the Company's existing 5% shareholders, to own 50% or more of the Company's outstanding shares of its stock on more than half the days during the taxable year. The Company estimates that since no more than the 50% of its shipping income would be treated as being United States source income, the effective tax rate is expected to be 2% and accordingly it anticipates that the impact on its results of operations will not be material. The Company believes that it satisfies the Publicly-Traded Test and all of its United States source shipping income is exempt from U.S. federal income tax. Based on its U.S. source Shipping Income for 2015, 2014 and 2013, the Company would be subject to U.S. federal income tax of approximately $166 , $246 and $238, respectively, in the absence of an exemption under Section 883.

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2015
Financial Instruments [Abstract]
Financial Instruments	16 . Financial Instruments The carrying values of temporary cash investments, accounts receivable and accounts payable approximate their fair value due to the short-term nature of these financial instruments. The fair values of long-term bank loans approximate the recorded values, due to their variable interest rates. The fair value of long-term loan receivable from Diana Containerships also approximate s its recorded value , due to its variable interest rate . The fair value of the Senior Unsecured Notes (Note 9) having a fixed interest rate amounted $ 48,146 as of December 31, 2015, and was determined through the Level 1 input of the fair value hierarchy as defined in FASB guidance for Fair Value Measurements based on the quoted price of the instrument as of December 31, 2015 as stated under the ticker Symbol “DSXN” on the NYSE. The Company is exposed to interest rate fluctuations associated with its variable rate borrowings and its objective is to manage the impact of such fluctuations on earnings and cash flows of its borrowings. I n May 2009 the Company entered into a five-year zero cost collar agreement (novated in March 2012) , with a floor at 1% and a cap at 7.8% of a notional amount of $100,000 to manage its exposure to interest rate changes related to its borrowings. The collar agreement , which matured on May 27, 2014, wa s used as an economic hedge agreement and did not meet the criteria for hedge accounting; therefore, the changes in its fair value were recognized in earnings. During 2014 and 2013 , the Company incurred income of $68 and loss of $118 , respectively, separately presented as “ Income /( loss) from derivative instruments ” in the related accompanying consolidated statement s of operation s .

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	17 . Subsequent Events New loan agreement: On January 7, 2016, the Company, through the three wholly owned subsidiaries with vessels under construction, entered into a secured loan agreement with the Export-Import Bank of China for a loan of up to $75,735 (Note 9) in order to finance part of the construction cost of the vessels (Note 5). The loan will be available for drawdown until March 12, 2017, or such later date as all the l ender s may in their discretion agree and will mature latest by March 2032. Series B Preferred Stock Dividends: On January 15, 201 6 , the Company paid a dividend on its series B preferred stock, amounting to $0.5546875 per share, or $1,442, to its stockholders of record as of January 14, 201 6 . Vessels' acquisition: On February 4, 2016, the Company, through three separate wholly-owned subsidiaries, entered into three Memoranda of Agreement to acquire from a related party three Panamax vessels for an aggregate purchase price of $39,800 , further reduced to $39,265 on March 4, 2016. The Company has agreed to acquire the vessels from entities affiliated with Mrs. Semiramis Paliou and Mrs. Aliki Paliou, each of whom is a family member of the Company's Chief Executive Officer and Chairman of the Board . Mrs. Semiramis Paliou is also a director of the Company. The transaction was approved unanimously by a committee of the Board of Directors established for the purpose of considering the transaction and consisting of the Company's independent directors and each of its executive directors other than Mrs. Semiramis Paliou and Mr. Simeon Palios. The agreed upon purchase price of the vessels was based, among other factors, on independent third party broker valuations obtained by the Company. Consummation of the purchases is subject to the Company obtaining bank financing from the sellers' existing lenders for substantially the entire purchase price of the vessels, thereby resulting in little or no current cash outlay on the part of the Company. Two of the vessels were delivered in March 2016 and the third is expected to be delivered later in April 2016. Annual Incentive Bonus: On February 23, 2016 the Company's Board of Directors approved a cash bonus of $ 775 to all employees and executive management of the Company, net of taxes and other charges and 2,150,000 shares of restricted common stock awards to executive management and non-executive directors, pursuant to the Company's equity incentive plans. The fair value of the restricted shares based on the closing price on the date of the Board of Directors' approval was $4,859 and will be recognized in income ratably over the restricted shares vesting period which will be 3 years. New Commitment Letter : O n March 11, 2016, the Company through two wholly-owned subsidiaries signed a commitment letter with ABN AMRO for a loan of up to $25,755 to finance the acquisition cost of two of the vessels mentioned under (c) above .

Significant Accounting Polici25

Significant Accounting Policies and Recent Accounting Pronouncements (Policies)	12 Months Ended
	Dec. 31, 2015
Significant Accounting Policies and Recent Accounting Pronouncements [Abstract]
Principles of Consolidation	(a) Principles of Consolidation : The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles, and include the accounts of Diana Shipping Inc. and its wholly-owned subsidiaries referred to in Note 1 above. All intercompany balances and transactions have been eliminated upon consolidation.
Use of Estimates	(b) Use of Estimates: The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Other Comprehensive Income / (Loss)	(c) Other Comprehensive Income / (loss): The Company separately presents certain transactions, which are recorded directly as components of stockholders’ equity. Other Comprehensive Income / (Loss) is presented in a separate statement.
Foreign Currency Translation	(d) Foreign Currency Translation: The functional currency of the Company is the U.S. dollar because the Company’s vessels operate in international shipping markets, and therefore primarily transact business in U.S. dollars. The Company’s accounting records are maintained in U.S. dollars. Transactions involving other currencies during the year are converted into U.S. dollars using the exchange rates in effect at the time of the transactions. At the balance sheet dates, monetary assets and liabilities which are denominated in other currencies are translated into U.S. dollars at the year-end exchange rates. Resulting gains or losses are reflected separately in the accompanying consolidated statements of operations.
Cash and Cash Equivalents	(e) Cash and Cash Equivalents: The Company considers highly liquid investments such as time deposits, certificates of deposit and their equivalents with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents may also include compensating cash balances kept against the Company’s loan facilities that are not deemed to be sufficiently material to require segregation on the balance sheet. Such balances at December 31, 2015 and 2014 amounted to $21,500 and $19,500 in the aggregate and consisted of minimum cash deposits required to be maintained at all times under the Company's loan facilities (Note 9).
Accounts Receivable, Trade	(f) Accounts Receivable, Trade: The amount shown as accounts receivable, trade, at each balance sheet date, includes receivables from charterers for hire, ballast bonus billings, if any, hold cleanings and extra voyage insurance, net of any provision for doubtful accounts. At each balance sheet date, all potentially uncollectible accounts are assessed individually for purposes of determining the appropriate provision for doubtful accounts. No provision for doubtful accounts was established as of December 31, 2015 and 2014.
Loan Receivable from Related Parties	(g) Loan Receivable from Related Parties : The amounts shown as Due from related parties, current and non-current, in the consolidated balance sheet as at December 31, 2015 and 2014, (Note 4(b)) represent amounts receivable from Diana Containerships Inc. with respect to a loan agreement with a wholly owned subsidiary of Diana Containerships Inc., net of any provision for credit losses. Interest income and fees, deriving from the agreement are recorded in the accounts as incurred. Costs incurred for the loan documentation were expensed as incurred. At each balance sheet date, amounts due under the aforementioned loan agreement are assessed for purposes of determining the appropriate provision for credit losses. In order to estimate the allowance for credit losses, the Company assesses at each period end the ability of Diana Containerships to meet its obligations under the loan agreement by taking into consideration existing economic conditions, the current financial condition of Diana Containerships Inc. and historical losses, if any, and any other risks/factors that may affect its future financial condition and its ability to meet its obligations. No provision for credit losses was established as of December 31, 2015 and 2014, since there was no indication that Diana Containerships Inc. will not be able to meet its obligations under the loan agreement.
Inventories	(h) Inventories : Inventories consist of lubricants and victualling which are stated at the lower of cost or market. Cost is determined by the first in, first out method. Inventories may also consist of bunkers when on the balance sheet date a vessel remains idle. Bunkers are also stated at the lower of cost or market and cost is determined by the first in, first out method.
Vessel Cost	(i) Vessel Cost: Vessels are stated at cost which consists of the contract price and any material expenses incurred upon acquisition or during construction. Expenditures for conversions and major improvements are also capitalized when they appreciably extend the life, increase the earning capacity or improve the efficiency or safety of the vessels; otherwise these amounts are charged to expense as incurred. Interest cost incurred during the assets' construction periods that theoretically could have been avoided if expenditure for the assets had not been made is also capitalized. The capitalization rate, applied on accumulated expenditures for the vessel, is based on interest rates applicable to outstanding borrowings of the period.
Property and equipment	(j) Property and equipment: The Company owns the land and building where its offices are located. Land is presented in its fair value on the date of acquisition and it is not subject to depreciation. The building has an estimated useful life of 55 years with no residual value. Depreciation is calculated on a straight-line basis. Equipment consists of office furniture and equipment, computer software and hardware and vehicles which consist of motor scooters and a car. The useful life of the car is 10 years, of the office furniture, equipment and the scooters is 5 years; and of the computer software and hardware is 3 years. Depreciation is calculated on a straight-line basis.
Prepaid Charter Revenue	(k) Prepaid Charter Revenue : When the Company acquires a vessel with a time charter attached and the present value of the contractual cash flows of the time charter assumed is greater than its current fair value with reference to market data, the difference, capped to the vessel’s fair value on a charter free basis, is recorded as prepaid charter revenue. Prepaid charter revenue is amortized to revenue over the period of the time charter assumed and is tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable (Note 8).
Impairment of Long-Lived Assets	(l) Impairment of Long-Lived Assets: Long-lived assets (vessels, land, and building) and certain identifiable intangibles held and used by an entity are reviewed for impairment whenever events or changes in circumstances (such as market conditions, obsolesce or damage to the asset, potential sales and other business plans) indicate that the carrying amount of the assets may not be recoverable. When the estimate of undiscounted projected net operating cash flows, excluding interest charges, expected to be generated by the use of the asset over its remaining useful life and its eventual disposition is less than its carrying amount, the Company should evaluate the asset for an impairment loss. Measurement of the impairment loss is based on the fair value of the asset. The Company determines the fair value of its assets based on management estimates and assumptions and by making use of available market data and taking into consideration third party valuations. With respect to the vessels, the Company determines undiscounted projected net operating cash flows for each vessel by considering the historical and estimated vessels’ performance and utilization, assuming (i) future revenues calculated for the fixed days, using the fixed charter rate of each vessel from existing time charters and for the unfixed days, the most recent 10 year average historical 1 year time charter rates available for each type of vessel over the remaining estimated life of each vessel, net of brokerage commissions. Historical ten-year blended average one-year time charter rates are in line with the Company’s overall chartering strategy, they reflect the full operating history of vessels of the same type and particulars with the Company’s operating fleet and they cover at least a full business cycle; (ii) expected outflows for scheduled vessels’ maintenance; (iii) vessel operating expenses increasing annually by an annual inflation rate of 3%, which approximates current projections for global inflation rate; (iv) effective fleet utilization of 98% taking into account the period each vessel is expected to remain off hire for scheduled maintenance (dry docking and special surveys) and 1% off hire days (other than for dry docking and special surveys) each year, assumptions in line with the Company’s historical performance and its expectations for future fleet utilization under its current fleet deployment strategy. The Company concluded based on this exercise that step two of the impairment analysis was not required and has not identified any facts or circumstances that would require the write down of vessel values as at December 31, 2015 or in the near future and no impairment loss has been identified or recorded for 2015, 2014 and 2013. With respect to the land and building, the Company determines undiscounted projected net operating cash flows by considering an estimated monthly rent the Company would have to pay in order to lease a similar property, during the useful life of the building. As at December 31, 2015, 2014 and 2013, no impairment loss was identified or recorded and the Company has not identified any other facts or circumstances that would require the write down of the value of its land or building in the near future.
Vessel Depreciation	(m) Vessel Depreciation : Depreciation is computed using the straight-line method over the estimated useful life of the vessels, after considering the estimated salvage (scrap) value. Each vessel’s salvage value is equal to the product of its lightweight tonnage and estimated scrap rate. Management estimates the useful life of the Company’s vessels to be 25 years from the date of initial delivery from the shipyard. Second hand vessels are depreciated from the date of their acquisition through their remaining estimated useful life. When regulations place limitations over the ability of a vessel to trade on a worldwide basis, its remaining useful life is adjusted at the date such regulations are adopted.
Accounting for Dry-Docking Costs	(n) Accounting for Dry-Docking Costs : The Company follows the deferral method of accounting for dry-docking costs whereby actual costs incurred are deferred and are amortized on a straight-line basis over the period through the date the next dry-docking is scheduled to become due. Unamortized dry-docking costs of vessels that are sold are written off and included in the calculation of the resulting gain or loss in the year of the vessel’s sale.
Financing Costs	(o) Financing Costs : Fees paid to lenders for obtaining new loans or refinancing existing ones are deferred and recorded as a contra to debt. Other fees paid for obtaining loan facilities not used at the balance sheet date are capitalized as deferred financing costs. Fees relating to drawn loan facilities are amortized to interest and finance costs over the life of the related debt using the effective interest method and fees incurred for loan facilities not used at the balance sheet date are amortized using the straight line method according to their availability terms. Unamortized fees relating to loans repaid or refinanced as debt extinguishment are expensed as interest and finance costs in the period the repayment or extinguishment is made. Loan commitment fees are charged to expense in the period incurred, unless they relate to loans obtained to finance vessels under construction, in which case they are capitalized to the vessels’ cost.
Concentration of Credit Risk	(p) Concentration of Credit Risk: Financial instruments, which potentially subject the Company to significant concentrations of credit risk, consist principally of cash, trade accounts receivable and the loan receivable from a related party. The Company places its temporary cash investments, consisting mostly of deposits, with various qualified financial institutions and performs periodic evaluations of the relative credit standing of those financial institutions that are considered in the Company’s investment strategy. The Company limits its credit risk with accounts receivable by performing ongoing credit evaluations of its customers’ financial condition and generally does not require collateral for its accounts receivable and does not have any agreements to mitigate credit risk. The Company limits its credit risk with the loan receivable by performing ongoing credit evaluations of Diana Containerships’ financial condition. The loan agreement is guaranteed by Diana Containerships but does not have any collateral and the Company has not entered into any agreement to mitigate credit risk.
Accounting for Revenues and Expenses	(q) Accounting for Revenues and Expenses: Revenues are generated from time charter agreements and are usually paid fifteen days in advance. Time charter agreements with the same charterer are accounted for as separate agreements according to the terms and conditions of each agreement. Time charter revenues are recorded over the term of the charter as service is provided. Income representing ballast bonus payments by the charterer to the vessel owner is recognized in the period earned. Revenues from time charter agreements providing for varying annual rates over their term are accounted for on a straight line basis. Compensation due to earlier redelivery than the minimum period agreed in the charter party is recognized in the period earned. Deferred revenue includes cash received prior to the balance sheet date for which all criteria to recognize as revenue have not been met. Deferred revenue may also include deferred revenue resulting from charter agreements providing for varying annual rates, which are accounted for on a straight line basis, or the unamortized balance of the liability associated with the acquisition of second-hand vessels with time charters attached which were acquired at values below fair market value at the date the acquisition agreement is consummated. Voyage expenses, primarily consisting of commissions, port, canal and bunker expenses that are unique to a particular charter, are paid for by the charterer under time charter arrangements, except for commissions, which are always paid for by the Company, regardless of charter type. All voyage and vessel operating expenses are expensed as incurred, except for commissions. Commissions are deferred over the related voyage charter period to the extent revenue has been deferred since commissions are due as the Company’s revenues are earned.
Repairs and Maintenance	(r) Repairs and Maintenance: All repair and maintenance expenses including underwater inspection expenses are expensed in the year incurred. Such costs are included in vessel operating expenses in the accompanying consolidated statements of operations.
Earnings/ (loss) per Common Share	(s) Earnings / (loss) per Common Share: Basic earnings / (loss) per common share are computed by dividing net income / (loss) available to common stockholders by the weighted average number of common shares outstanding during the year. Diluted earnings per common share, reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised.
Segmental Reporting	(t) Segmental Reporting: The Company has determined that it operates under one reportable segment, relating to its operations of the dry-bulk vessels. The Company reports financial information and evaluates the operations of the segment by charter revenues and not by the length of ship employment for its customers, i.e. spot or time charters. The Company does not use discrete financial information to evaluate the operating results for each such type of charter. Although revenue can be identified for these types of charters, management cannot and does not identify expenses, profitability or other financial information for these charters. As a result, management, including the chief operating decision maker, reviews operating results solely by revenue per day and operating results of the fleet. Furthermore, when the Company charters a vessel to a charterer, the charterer is free to trade the vessel worldwide and, as a result, the disclosure of geographic information is impracticable.
Fair Value Measurements	(u) Fair Value Measurements : The Company classifies and discloses its assets and liabilities carried at the fair value in one of the following categories: Level 1: Quoted market prices in active markets for identical assets or liabilities; Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data; Level 3: Unobservable inputs that are not corroborated by market data.
Share Based Payment	(v) Share Based Payments: The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost is recognized over the period during which an employee is required to provide service in exchange for the award—the requisite service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the requisite service. Employee share purchase plans will not result in recognition of compensation cost if certain conditions are met. The Company initially measures the cost of employee services received in exchange for an award or liability instrument based on its current fair value; the fair value of that award or liability instrument is re-measured subsequently at each reporting date through the settlement date. Changes in fair value during the requisite service period are recognized as compensation cost over that period with the exception of awards granted in the form of restricted shares which are measured at their grant date fair value and are not subsequently re measured. The grant-date fair value of employee share options and similar instruments are estimated using option-pricing models adjusted for the unique characteristics of those instruments (unless observable market prices for the same or similar instruments are available). If an equity award is modified after the grant date, incremental compensation cost will be recognized in an amount equal to the excess of the fair value of the modified award over the fair value of the original award immediately before the modification.
Derivatives	(w) Derivatives: The Company is exposed to interest rate fluctuations associated with its variable rate borrowings and its objective is to manage the impact of such fluctuations on earnings and cash flows of its borrowings. In this respect, in May 2009, the Company entered into a five-year zero cost collar agreement, novated in March 2012, and terminated in May 2014, to manage its exposure to interest rate changes related to its borrowings. The collar agreement was considered as an economic hedge agreement as it did not meet the criteria of hedge accounting; therefore, the changes in its fair value were recognized in earnings (Note 16).
Equity Method Investments	(x) Equity method investments: Investments in common stock in entities over which the Company exercises significant influence, but does not exercise control are accounted for by the equity method of accounting. Under this method, the Company records such an investment at cost and adjusts the carrying amount for its share of the earnings or losses of the entity subsequent to the date of investment and reports the recognized earnings or losses in income. The Company also evaluates whether a loss in value of an investment that is other than a temporary decline should be recognized. Evidence of a loss in value might include absence of an ability to recover the carrying amount of the investment or inability of the investee to sustain an earnings capacity that would justify the carrying amount of the investment. Dividends received reduce the carrying amount of the investment. When the Company’s share of losses in an entity accounted for by the equity method equals or exceeds its interest in the entity, the Company does not recognize further losses, unless the Company has made advances, incurred obligations and made payments on behalf of the entity.
Variable Interest Entities	(y) Variable Interest Entities: The Company evaluates financial instruments, service contracts, and other arrangements to determine if any variable interests relating to an entity exist, as the primary beneficiary would be required to include assets, liabilities, and the results of operations of the variable interest entity in its financial statements. As of December 31, 2015 and 2014, no such interests were identified.
Recent Accounting Pronouncements	Recent Accounting Pronouncements (a) In August 2014, the FASB issued Accounting Standards Update ("ASU" or “Update”) No. 2014-15 – Presentation of Financial Statements - Going Concern. ASU 2014-15 provides guidance about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. ASU 2014-15 requires an entity's management to evaluate at each reporting period based on the relevant conditions and events that are known at the date of financial statements are issued, whether there are conditions or events, that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued and to disclose the necessary information. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. (b) In February 2015, the FASB issued the ASU 2015-02, “Consolidation (Topic 810)—Amendments to the Consolidation Analysis”, which amends the criteria for determining which entities are considered VIEs, amends the criteria for determining if a service provider possesses a variable interest in a VIE and ends the deferral granted to investment companies for application of the VIE consolidation model. The ASU is effective for interim and annual periods beginning after December 15, 2015. Early application is permitted. Management does not expect the adoption of this ASU to have a material impact on Company’s results of operations, financial position or cash flows. (c) In July 2015, the FASB issued ASU No. 2015-11 –Inventory. ASU 2015-11 is part of FASB Simplification Initiative. Current guidance requires an entity to measure inventory at the lower of cost or market. Market could be the replacement cost, net realizable value or net realizable value less an approximately normal profit margin. Under this Update, the entities will be required to measure inventory at the lower of cost or net realizable value. Net realizable value is defined as estimate selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The amendments under the Update more closely align measurement of inventory in US GAAP with the measurement of inventory in IFRS. For public entities, the amendments of this Update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendments of this Update should be applied prospectively with early application permitted. Management does not expect the adoption of this ASU to have a material impact on Company’s results of operations, financial position or cash flows. (d) In February 2016, the FASB issued ASU 2016-02 Leases (Topic 842) which provides new guidance related to accounting for leases and supersedes existing U.S. GAAP on lease accounting. The ASU will require organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases, unless the lease is a short term lease. Public business entities should apply the amendments in ASU 2016-02 for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted for all public business entities upon issuance. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. Management is in the process of assessing the impact of the new standard on the Company's consolidated financial position and performance. (e) In March 2016, the FASB issued ASU No. 2016-07 “Investments—Equity Method and Joint Ventures“ to simplify the accounting for equity method investments. The amendments in the Update eliminate the requirement in Topic 323 that an entity retroactively adopt the equity method of accounting if an investment qualifies for use of the equity method as a result of an increase in the level of ownership or degree of influence. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor’s previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting. For public companies, the new standard is effective for interim and annual periods beginning after December 15, 2016. Early adoption is permitted. Management does not believe that the adoption of the new standard will have any impact on its consolidated financial position, results of operations or cash flows and relevant disclosures.

Basis of Presentation and Gen26

Basis of Presentation and General Information (Tables)	12 Months Ended
	Dec. 31, 2015
Basis of Presentation and General Information [Abstract]
Schedule Of Subsidiaries [Table Text Block]	a/a Company Vessel Flag Date Built Date Acquired Place of Incorporation PANAMAX VESSELS 1 Panama Compania Armadora SA Oceanis Bahamas May 2001 May 2001 Panama 2 Husky Trading SA Triton Bahamas Mar 2001 Mar 2001 Panama 3 Changame Compania Armadora SA Thetis Bahamas Aug 2004 Nov 2005 Panama 4 Buenos Aires Compania Armadora SA Alcyon Bahamas Feb 2001 Feb 2001 Panama 5 Skyvan Shipping Company SA Nirefs Bahamas Jan 2001 Jan 2001 Panama 6 Cypres Enterprises Corp. Protefs Bahamas Aug 2004 Aug 2004 Panama 7 Urbina Bay Trading SA Erato Bahamas Aug 2004 Nov 2005 Panama 8 Chorrera Compania Armadora SA Dione Greek Jan 2001 May 2003 Panama 9 Darien Compania Armadora SA Calipso Bahamas Feb 2005 Feb 2005 Panama 10 Texford Maritime SA Clio Bahamas May 2005 May 2005 Panama 11 Eaton Marine SA Danae Greek Jan 2001 Jul 2003 Panama 12 Vesta Commercial SA Coronis Marshall Islands Jan 2006 Jan 2006 Panama 13 Ailuk Shipping Company Inc. Naias Marshall Islands Jun 2006 Aug 2006 Marshall Islands 14 Taka Shipping Company Inc. Melite Marshall Islands Oct 2004 Jan 2010 Marshall Islands 15 Bikar Shipping Company Inc. Arethusa Greek Jan 2007 Jul 2011 Marshall Islands 16 Mandaringina Inc. Melia Marshall Islands Feb 2005 May 2012 Marshall Islands 17 Jemo Shipping Company Inc. Leto Marshall Islands Feb 2010 Jan 2012 Marshall Islands 18 Fayo Shipping Company Inc. Artemis Marshall Islands Sep 2006 Aug 2013 Marshall Islands 19 Erikub Shipping Company Inc. (Note 6) Crystalia Greek Feb 2014 Feb 2014 Marshall Islands 20 Wotho Shipping Company Inc. (Note 6) Atalandi Greek May 2014 May 2014 Marshall Islands KAMSARMAX VESSELS 21 Tuvalu Shipping Company Inc. Myrto Marshall Islands Jan 2013 Jan 2013 Marshall Islands 22 Jabat Shipping Company Inc. Maia Marshall Islands Aug 2009 Feb 2013 Marshall Islands 23 Makur Shipping Company Inc. Myrsini Marshall Islands Mar 2010 Oct 2013 Marshall Islands 24 Rairok Shipping Company Inc. (Note 6) Medusa Marshall Islands Apr 2010 Jun 2015 Marshall Islands POST-PANAMAX VESSELS 25 Majuro Shipping Company Inc. Alcmene Marshall Islands Jan 2010 Nov 2010 Marshall Islands 26 Guam Shipping Company Inc Amphitrite Marshall Islands Aug 2012 Aug 2012 Marshall Islands 27 Palau Shipping Company Inc. Polymnia Marshall Islands Nov 2012 Nov 2012 Marshall Islands CAPESIZE VESSELS 28 Jaluit Shipping Company Inc. Sideris GS Marshall Islands Nov 2006 Nov 2006 Marshall Islands 29 Bikini Shipping Company Inc. New York Marshall Islands Mar 2010 Mar 2010 Marshall Islands 30 Gala Properties Inc. Houston Marshall Islands Oct 2009 Oct 2009 Marshall Islands 31 Kili Shipping Company Inc. Semirio Marshall Islands Jun 2007 Jun 2007 Marshall Islands 32 Knox Shipping Company Inc. Aliki Marshall Islands Mar 2005 Apr 2007 Marshall Islands 33 Lib Shipping Company Inc. Boston Marshall Islands Nov 2007 Nov 2007 Marshall Islands 34 Marfort Navigation Company Ltd. Salt Lake City Cyprus Sep 2005 Dec 2007 Cyprus 35 Silver Chandra Shipping Company Ltd. Norfolk Cyprus Aug 2002 Feb 2008 Cyprus 36 Bokak Shipping Company Inc. Baltimore Marshall Islands Mar 2005 Jun 2013 Marshall Islands 37 Pulap Shipping Company Inc. PS Palios Marshall Islands Jan 2013 Dec 2013 Marshall Islands 38 Weno Shipping Company Inc. (Note 6) GP Zafirakis Marshall Islands Aug 2014 Aug 2014 Marshall Islands 39 Lelu Shipping Company Inc. (Note 5) Santa Barbara Marshall Islands Jan 2015 Jan 2015 Marshall Islands 40 Ujae Shipping Company Inc. (Note 6) New Orleans Marshall Islands Nov 2015 Nov 2015 Marshall Islands 41 Toku Shipping Company Inc. (Notes 6) Seattle Marshall Islands Apr 2011 Nov 2015 Marshall Islands NEWCASTLEMAX VESSELS 41 Lae Shipping Company Inc. Los Angeles Marshall Islands Feb 2012 Feb 2012 Marshall Islands 42 Namu Shipping Company Inc. Philadelphia Marshall Islands May 2012 May 2012 Marshall Islands UNDER CONSTRUCTION 43 Aster Shipping Company Inc. (Notes 5 and 10) H2548 - - Expected in 2016 Marshall Islands 44 Aerik Shipping Company Inc. (Notes 5 and 10) H2549 - - Expected in 2016 Marshall Islands 45 Houk Shipping Company Inc. (Notes 5 and 10) DY6006 - - Expected in 2016 Marshall Islands OTHER SUBSIDIARIES 46 Diana Shipping Services SA Management company Panama 47 Bulk Carriers (USA) LLC Company’s representative in the US Delaware - USA 48 Diana Ship Management Inc. (Note 3(b)) Intermediate holding company Marshall Islands
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]	Charterer 2015 2014 2013 A 24% 10% B 20% C 12% 12% D 10% 15% 19% E 18% 17% F 11% G 11%

Advances for Vessels under Co27

Advances for Vessels under Construction and Acquisitions and Other Vessel Costs (Tables)	12 Months Ended
	Dec. 31, 2015
Advances For Property Plant And Equipment [Abstract]
Schedule of Advances For Property Plant And Equipment [Table Text Block]	2015 2014 Beginning balance $ 29,500 $ 38,862 - Advances for vessels under construction and other vessel costs 25,080 43,160 - Advances for vessel acquisitions and other vessel costs 40,105 10,066 - Transferred to vessel cost (Note 6) (50,171) (62,588) Ending balance $ 44,514 $ 29,500

Vessels (Tables)

Vessels (Tables)	12 Months Ended
	Dec. 31, 2015
Vessels [Abstract]
Schedule Of Property Plant And Equipment [Table Text Block]	Vessel Cost Accumulated Depreciation Net Book Value Balance, December 31, 2013 $ 1,686,590 $ (366,215) $ 1,320,375 - Transfer from advances for vessels under construction and acquisition and other vessel costs (Note 5) 62,588 - 62,588 - Acquisitions, improvements and other vessel costs 58,476 - 58,476 - Depreciation for the year - (68,306) (68,306) Balance, December 31, 2014 $ 1,807,654 $ (434,521) $ 1,373,133 - Transfer from advances for vessels under construction and acquisition and other vessel costs (Note 5) 50,171 - 50,171 - Acquisitions, improvements and other vessel costs 90,167 - 90,167 - Depreciation for the period - (72,668) (72,668) Balance, December 31, 2015 $ 1,947,992 $ (507,189) $ 1,440,803

Property and equipment, net (Ta

Property and equipment, net (Tables)	12 Months Ended
	Dec. 31, 2015
Property and Equipment, Net [Abstract]
Schedule Of Property And Equipment [Table Text Block]	Property and Equipment Accumulated Depreciation Net Book Value Balance, December 31, 2013 $ 24,680 $ (1,854) $ 22,826 - Write off of fully depreciated assets (100) 100 - - Additions in property and equipment 1,574 - 1,574 - Depreciation for the year - (513) (513) Balance, December 31, 2014 $ 26,154 $ (2,267) $ 23,887 - Additions in property and equipment 211 - 211 - Depreciation for the period - (609) (609) Balance, December 31, 2015 $ 26,365 $ (2,876) $ 23,489

Long term debt, current and non

Long term debt, current and non-current (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Instruments [Abstract]
Schedule of Long-term Debt Instruments [Table Text Block]	2015 2014 Revolving Credit Facility $ - $ 210,000 8.5% Senior Unsecured Notes 63,250 - Secured Term Loans 542,691 276,008 Total debt outstanding $ 605,941 $ 486,008 Less related deferred financing costs (5,870) (1,752) Total debt, net of deferred financing costs $ 600,071 $ 484,256 Less: Current portion of long term debt, net of deferred financing costs current (40,984) (78,734) Long-term debt, net of current portion and deferred financing costs, non-current $ 559,087 $ 405,522
Schedule of Maturities of Long-term Debt [Table Text Block]	Period Principal Repayment January 1, 2016 to December 31, 2016 $ 42,450 January 1, 2017 to December 31, 2017 44,950 January 1, 2018 to December 31, 2018 54,450 January 1, 2019 to December 31, 2019 83,450 January 1, 2020 to December 31, 2020 183,312 January 1, 2021 and thereafter 197,329 Total $ 605,941

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Fixed non-cancellable revenues under time charter contracts [Abstract]
Schedule Of Fixed Non CancelableTime Charter Contracts [Table Text Block]	Period Amount Year 1 $ 69,036 Year 2 3,980 Total $ 73,016

Capital Stock and Changes in 32

Capital Stock and Changes in Capital Accounts (Tables)	12 Months Ended
	Dec. 31, 2015
Capital Stock and Changes in Capital Accounts [Abstract]
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	Number of Shares Weighted Average Grant Date Price Outstanding at December 31, 2012 1,451,625 $ 11.90 Granted 607,946 9.06 Vested (701,198) 12.64 Outstanding at December 31, 2013 1,358,373 $ 10.25 Granted 1,864,000 9.38 Vested (730,539) 11.25 Outstanding at December 31, 2014 2,491,834 $ 9.30 Granted 1,100,000 6.91 Vested (827,522) 9.57 Outstanding at December 31, 2015 2,764,312 $ 8.27

Voyage and Vessel Operating E33

Voyage and Vessel Operating Expenses (Tables)	12 Months Ended
	Dec. 31, 2015
Voyage And Vessel Operating Expenses [Abstract]
Schedule Of Voyage And Vessel Operating Expenses Analysis [Table Text Block]	2015 2014 2013 Voyage Expenses Bunkers $ 7,522 $ 2,026 $ (62) Commissions charged by third parties 7,632 8,245 7,939 Commissions charged by a related party (Note 4(d)) 43 - - Miscellaneous 331 394 242 Total $ 15,528 $ 10,665 $ 8,119 Vessel Operating Expenses Crew wages and related costs $ 50,494 $ 50,442 $ 45,451 Insurance 6,778 6,723 6,438 Spares and consumable stores 16,913 17,106 14,825 Repairs and maintenance 9,094 8,379 5,548 Tonnage taxes (Note 15) 2,144 2,109 1,040 Environmental costs 1,727 1,314 2 Other operating expenses 1,122 850 3,907 Total $ 88,272 $ 86,923 $ 77,211

Interest and Finance Costs (Tab

Interest and Finance Costs (Tables)	12 Months Ended
	Dec. 31, 2015
Interest and Finance Costs [Abstract]
Schedule Of Interest And Finance Costs [Table Text Block]	2015 2014 2013 Interest expense $ 13,922 $ 7,815 $ 7,600 Amortization of financing costs 1,364 519 473 Commitment fees and other costs 269 93 67 Total $ 15,555 $ 8,427 $ 8,140

Loss per Share (Tables)

Loss per Share (Tables)	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	2015 2014 2013 Net loss $ (64,713) $ (10,268) $ (21,205) Less dividends on series B preferred shares $ (5,769) $ (5,080) $ - Net loss attributed to common stockholders (70,482) (15,348) (21,205) Weighted average number of common shares, basic and diluted 79,518,009 81,292,290 81,328,390 Loss per share, basic and diluted $ (0.89) $ (0.19) $ (0.26)

Basis of Presentation and Gen36

Basis of Presentation and General Information, textual (Details)	12 Months Ended
	Dec. 31, 2015
Basis of Presentation and General Information [Abstract]
Entity Incorporation, State Country Name	the Republic of the Marshal Islands
Entity Incorporation, Date of Incorporation	Mar. 8, 1999
Diana Wilhelmsen Management Limited [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50.00%
Number of vessels under management services	6

Basis of Presentation and Gen37

Basis of Presentation and General Information, detail (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Sales Revenue, Net [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	10.00%	10.00%	10.00%
Major Customer A [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	24.00%	10.00%
Major Customer B [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	20.00%
Major Customer C [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	12.00%	12.00%
Major Customer D [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	10.00%	15.00%	19.00%
Major Customer E [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage		18.00%	17.00%
Major Customer F [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage			11.00%
Major Customer G [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage			11.00%

Significant Accounting Polici38

Significant Accounting Policies and Recent Accounting Pronouncements, textuals (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash And Cash Equivalents [Abstract]
Compensating Balance, Amount	$ 21,500,000	$ 19,500,000
Receivables [Abstract]
Provision for Doubtful Accounts	0	0
Provision For Loan And Lease Losses [Abstract]
Provision For Loan Losses Expensed	$ 0	0
Property Plant And Equipment Impairment Or Disposal [Abstract]
Time charter equivalent rate assumed for asset impairment	10 year average of historical 1 year time charter rates
Assumed inflation percentage for asset impairment	3.00%
Assumed vessel utilization for asset impairment	98.00%
Off hire percentage assumed for asset impairment	1.00%
Derivative Instrument Detail [Abstract]
Derivative, Inception Date	May 31, 2009
Derivative, Term of Contract	5 years
Types of Interest Rate Derivatives Used	zero cost collar agreement
Derivative, Maturity Date	May 27, 2014
Drybulkers [Member]
Property, Plant and Equipment [Line Items]
Impairment of Long-Lived Assets Held-for-use	$ 0	0	$ 0
Building Member
Property, Plant and Equipment [Line Items]
Impairment of Long-Lived Assets Held-for-use	$ 0	$ 0	$ 0

Significant Accounting Polici39

Significant Accounting Policies and Recent Accounting Pronouncements, textuals 1 (Details)	12 Months Ended
	Dec. 31, 2015USD ($)
Building Member
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	55 years
Property, plant and equipment, salvage value	$ 0
Automobiles Member
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	10 years
Office Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	5 years
Vehicles Member
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	5 years
Computer Equipment Member
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	3 years
Software Member
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	3 years
Drybulkers [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	25 years

Equity Method Investments, text

Equity Method Investments, textual (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	$ 62,487	$ 67,546
Income / (loss) from Equity Method Investments	(5,133)	12,668	$ (6,094)
Cash dividends from investment in Diana Containerships Inc.	193	763	4,000
Acquisition of additional interest in Diana Containerships Inc.	$ 0	$ 40,000	0
Diana Containerships Inc [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	26.08%	26.34%
Equity Method Investments	$ 62,376	$ 67,546
Equity Method Investment, Quoted Market Value	$ 15,416
Share Price	$ 0.80
Income / (loss) from Equity Method Investments	$ (4,977)	12,668	(6,094)
Cash dividends from investment in Diana Containerships Inc.	$ 193	$ 763	$ 4,000
Diana Containerships Inc [Member] | Private Placement
Schedule of Equity Method Investments [Line Items]
Sale of Stock, Transaction Date		Jul. 29, 2014
Number of shares issued in private offering		15,936,255
Acquisition of additional interest in Diana Containerships Inc.		$ 40,000
Diana Wilhelmsen Management Limited [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50.00%
Number of vessels under management services	6
Equity Method Investments	$ 111
Income / (loss) from Equity Method Investments	$ (156)

Transactions with Related Par41

Transactions with Related Parties, textual (Details) - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Aug. 20, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]
Loan to Diana Containerships Inc.		$ 0	$ 0	$ 50,000
Management Fee Expense		405	0	0
Revenue from Related Parties		0	0	447
Commercial fees to related party		43	0	0
Due to related parties, current		64	281
Due from related parties, current		5,103	57
Due from related parties, non-current		43,750	50,866
Altair Travel Agency Sa [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction		2,685	2,765	2,640
Due to related parties, current		$ 62	281
Diana Containerships Inc [Member] | Management Agreements [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Date of expiration		Feb. 28, 2013
Revenue from Related Parties				447
Diana Containerships Inc [Member] | Loan Receivable
Related Party Transaction [Line Items]
Debt Instrument, Issuance Date		May 20, 2013
Debt instrument term		5 years
Related Party Transaction, Date of expiration		Sep. 9, 2015
Loan to Diana Containerships Inc.	$ 50,000
Loan receivable, Description of variable rate basis		LIBOR
Margin over Libor from agreement with Diana Containerships Inc.		5.00%
Back End Fee		1.25%
Diana Containerships Inc [Member] | Loan Receivable Amendment Agreement [Member]
Related Party Transaction [Line Items]
Debt Instrument, Issuance Date		Sep. 9, 2015
Related Party Transaction, Date of expiration		Mar. 15, 2022
Loan receivable, Description of variable rate basis		LIBOR
Margin over Libor from agreement with Diana Containerships Inc.		3.00%
Debt instrument, fee amount		$ 200
Debt instrument, annual principal payment		5,000
Maximum Agreegate Repayment Amount		32,500
Due from related parties, current		5,103	57
Due from related parties, non-current		43,750	50,866
Interest income from loan with Diana Containerships Inc.		2,745	3,246	1,196
Diana Enterprises Inc [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction		1,302	1,250	$ 2,481
Due to related parties, current		$ 0	$ 0
Diana Wilhelmsen Management Limited [Member] | Management Agreements [Member]
Related Party Transaction [Line Items]
Number of vessels under management services		6
Management Fee Expense		$ 405
Commercial fees to related party		43
Due to related parties, current		$ 2

Advances for Vessels under Co42

Advances for Vessels under Construction and Acquisitions and Other Vessel Costs, textual (Details) - USD ($) $ in Thousands	1 Months Ended
	Dec. 31, 2014	Jan. 31, 2014	May. 31, 2013	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Unrecorded Unconditional Purchase Obligation				$ 83,487
Vessels Under Construction [Member]
Property, Plant and Equipment [Line Items]
Contract Price Of Vessels Under Construction		$ 28,825	$ 97,400
Santa Barbara [Member]
Property, Plant and Equipment [Line Items]
Contract Price Of Vessels To Be Acquired	$ 50,000

Advances for Vessels under Co43

Advances for Vessels under Construction and Acquisitions and Other Vessel Costs, detail (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Advances For Property Plant And Equipment [Abstract]
Beginning balance	$ 29,500	$ 38,862
Advances for vessels under construction and other vessel costs	25,080	43,160
Advances for vessel acquisitions and other vessel costs	40,105	10,066
Transferred to vessel cost (Note 6)	(50,171)	(62,588)
Ending balance	$ 44,514	$ 29,500

Vessels, detail (Details)

Vessels, detail (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Movement in Property, Plant and Equipment [Roll Forward]
Vessels, Beginning Balance	$ 1,807,654	$ 1,686,590
Transfer from advances for vessels under construction and acquisition and other vessel costs (Note 5)	50,171	62,588
Acquisitions, improvements and other vessel costs	90,167	58,476
Vessels, Ending Balance	1,947,992	1,807,654
Movement in Accumulated Depreciation, Depletion and Amortization, Property, Plant and Equipment [Roll Forward]
Accumulated depreciation, Beginning Balance	(434,521)	(366,215)
Depreciation	(72,668)	(68,306)
Accumulated depreciation, Ending Balance	(507,189)	(434,521)
Property, Plant and Equipment, Net, by Type [Abstract]
Vessels net book value, Beginning Balance	1,373,133	1,320,375
Transfer from advances for vessels under construction and acquisition and other vessel costs (Note 5)	50,171	62,588
Acquisitions, improvements and other vessel costs	90,167	58,476
Depreciation	(72,668)	(68,306)
Vessels net book value, Ending Balance	$ 1,440,803	$ 1,373,133

Vessels, textual (Details)

Vessels, textual (Details) - USD ($) $ in Thousands	4 Months Ended		10 Months Ended	12 Months Ended
	Apr. 27, 2015	Apr. 20, 2015	Nov. 02, 2015	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Vessel acquisition cost				$ 90,167	$ 58,476
GP Zafirakis [Member]
Property, Plant and Equipment [Line Items]
Vessel acquisition cost					$ 58,000
New Orleans [Member]
Property, Plant and Equipment [Line Items]
Vessel acquisition cost		$ 43,000
Medusa [Member]
Property, Plant and Equipment [Line Items]
Vessel acquisition cost	$ 18,050
Seattle [Member]
Property, Plant and Equipment [Line Items]
Vessel acquisition cost			$ 28,500

Property and equipment, net, de

Property and equipment, net, detail (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Movement in Property, Plant and Equipment [Roll Forward]
Beginning Balance	$ 26,154	$ 24,680
Write off of fully depreciated assets		(100)
Additions in property and equipment	211	1,574	$ 575
Ending Balance	26,365	26,154	24,680
Movement in Accumulated Depreciation, Depletion and Amortization, Property, Plant and Equipment [Roll Forward]
Accumulated Depreciation, Property and Equipment, Beginning Balance	(2,267)	(1,854)
Write off of fully depreciated assets		100
Depreciation for the year	(609)	(513)
Accumulated Depreciation, Property and Equipment, Ending Balance	(2,876)	(2,267)	(1,854)
Property, Plant and Equipment, Net, by Type [Abstract]
Property And Equipment Net, Beginning Balance	23,887	22,826
Additions in property and equipment	211	1,574	575
Depreciation for the year	(609)	(513)
Property And Equipment Net, Ending Balance	$ 23,489	$ 23,887	$ 22,826

Property and equipment, net, te

Property and equipment, net, textual (Details) - 12 months ended Dec. 31, 2014 - Partially Owned Properties [Member] € in Thousands, $ in Thousands	USD ($)	EUR (€)
Property, Plant and Equipment [Line Items]
Land	$ 2,489	€ 2,000
Percentage of payment to acquire land, joint purchase	33.33%
Payments to acquire land held-for-use	$ 886

Prepaid charter revenue, textua

Prepaid charter revenue, textual (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2013USD ($)
Prepaid Charter Revenue [Abstract]
Prepaid Charter Revenue Amortization	$ 5,353

Long-term debt, current and n49

Long-term debt, current and non-current, details (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Long Term Debt, current and non-current [Abstract]
Revolving Credit Facility	$ 0	$ 210,000
8.5% Senior Unsecured Notes	63,250	0
Secured Term Loans	542,691	276,008
Total debt outstanding	605,941	486,008
Less related deferred financing costs	(5,870)	(1,752)
Total debt, net of deferred financing costs	600,071	484,256
Less: Current portion of long-term debt, net of deferred financing costs, current	(40,984)	(78,734)
Long-term debt, net of current portion and deferred financing costs, non-current	$ 559,087	$ 405,522

Long-term debt, current and n50

Long-term debt, current and non-current, textual (Details) - USD ($)

Mar. 19, 2015

Jan. 13, 2014

Mar. 10, 2015

Mar. 30, 2015

Mar. 20, 2015

Apr. 30, 2015

Jul. 24, 2015

Oct. 06, 2015

Nov. 19, 2015

Dec. 31, 2015

Dec. 31, 2014

Dec. 19, 2014

Dec. 31, 2013

Debt Instrument [Line Items]

Repayments of Long-term Debt

$ 321,240,000

$ 48,589,000

$ 45,783,000

Compensating Balance, Amount

$ 21,500,000

$ 19,500,000

Trading Symbol

DSX

Revolving Credit Facility February 2005 [Member]

Debt Instrument [Line Items]

Line of Credit Facility, Initiation Date

Feb. 18, 2005

Line of Credit Facility, Maximum Borrowing Capacity

$ 230,000,000

Revolving Credit Facility May 2006 [Member]

Debt Instrument [Line Items]

Line of Credit Facility, Initiation Date

May 24, 2006

Line of Credit Facility, Maximum Borrowing Capacity

$ 300,000,000

Line of Credit Facility, Frequency of Payments

semi-annual

Line of Credit Facility, Periodic Payment

$ 15,000,000

Line of Credit Facility, Expiration Date

Jul. 24, 2015

Line of Credit Facility, Interest Rate Description

LIBOR plus a margin ranging from 0.75% to 0.85%

Repayments of Long-term Debt

$ 195,000,000

Debt Instrument, Baloon Payment

$ 165,000,000

Long-term Debt, Weighted Average Interest Rate

0.90%

0.95%

Minimum [Member] | Revolving Credit Facility May 2006 [Member]

Debt Instrument [Line Items]

Loan Margin Percentage

0.75%

Maximum [Member] | Revolving Credit Facility May 2006 [Member]

Debt Instrument [Line Items]

Loan Margin Percentage

0.85%

Secured Debt [Member]

Debt Instrument [Line Items]

Number Of Vessels Collateral For Debt

42

Debt Instrument, Frequency of Periodic Payments

quarterly or semi-annual installments

Debt Instrument, Maturity Date Range, Start

Feb. 28, 2019

Debt Instrument, Maturity Date Range End

Nov. 30, 2022

Debt Instrument, Description of Variable Rate Basis

LIBOR plus a margin

Long-term Debt, Weighted Average Interest Rate

2.47%

2.68%

Debt Instrument Collateral Amount

$ 1,412,382,000

Debt Instrument, Debt Default, Amount

$ 1,419,000

Debt Instrument, Debt Default, Description of Violation or Event of Default

As of December 31, 2015, the Company was not in compliance with the minimum required hull cover ratio of one of its term loan agreements, creating a shortfall of $1,419. The Company received a waiver by the bank, which covers the period from December 31, 2015 up to and including December 31, 2016, amending the ratio to a lower level and with the requirement to provide updated valuations by July 31, 2016.

Secured Debt [Member] | Minimum [Member]

Debt Instrument [Line Items]

Loan Margin Percentage

1.00%

Secured Debt [Member] | Maximum [Member]

Debt Instrument [Line Items]

Loan Margin Percentage

3.00%

Unsecured Senior Notes [Member]

Debt Instrument [Line Items]

Debt Instrument, Issuance Date

May 20, 2015

Debt Instrument, Face Amount

$ 63,250,000

Debt Instrument, Frequency of Periodic Payments

quarterly

Debt Instrument, Maturity Date

May 15, 2020

Debt Instrument, Interest Rate, Stated Percentage

8.50%

Debt Instrument, Face Amount Per Note

$ 25

Proceeds from Issuance of Unsecured Debt

$ 61,180,000

Debt Instrument, Redemption Period, Start Date

May 15, 2017

Debt Instrument, Redemption Price, Percentage

100.00%

Trading Symbol

DSXN

Officers And Directors [Member] | Unsecured Senior Notes [Member]

Debt Instrument [Line Items]

Proceeds from Issuance of Unsecured Debt

$ 12,750,000

Commonwealth Bank Of Australia [Member] | Secured Debt [Member]

Debt Instrument [Line Items]

Debt Instrument, Issuance Date

Jan. 9, 2014

Number Of Subsidiaries, Entered Into Loan Agreement

2

Debt Instrument, Face Amount

$ 18,000,000

Proceeds From Issuance Of Secured Debt

$ 18,000,000

Debt Instrument, Description of Variable Rate Basis

LIBOR plus a margin

Loan Margin Percentage

2.25%

Commonwealth Bank Of Australia [Member] | Taka Shipping Company Inc [Member] | Secured Debt [Member]

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 8,500,000

Debt Instrument, Number of installments

24

Debt Instrument, Frequency of Periodic Payments

quarterly

Debt Instrument, Periodic Payment, Principal

$ 196,000

Debt Instrument, Baloon Payment

$ 3,800,000

Debt Instrument, Maturity Date

Jan. 13, 2020

Commonwealth Bank Of Australia [Member] | Fayo Shipping Company Inc [Member] | Secured Debt [Member]

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 9,500,000

Debt Instrument, Number of installments

32

Debt Instrument, Frequency of Periodic Payments

quarterly

Debt Instrument, Periodic Payment, Principal

$ 156,000

Debt Instrument, Baloon Payment

$ 4,500,000

Debt Instrument, Maturity Date

Jan. 13, 2022

BNP Paribas [Member] | Secured Debt [Member]

Debt Instrument [Line Items]

Debt Instrument, Issuance Date

Dec. 18, 2014

Number Of Subsidiaries, Entered Into Loan Agreement

2

Debt Instrument, Face Amount

$ 55,000,000

Proceeds From Issuance Of Secured Debt

$ 53,500,000

Debt Instrument, Number of installments

14

Debt Instrument, Frequency of Periodic Payments

semi-annual

Debt Instrument, Periodic Payment, Principal

$ 1,574,000

Debt Instrument, Baloon Payment

$ 31,466,000

Debt Instrument, Maturity Date

Nov. 30, 2021

Debt Instrument, Description of Variable Rate Basis

LIBOR plus a margin

Loan Margin Percentage

2.00%

Nordea Bank [Member] | Secured Debt [Member]

Debt Instrument [Line Items]

Debt Instrument, Issuance Date

Mar. 17, 2015

Number Of Subsidiaries, Entered Into Loan Agreement

8

Debt Instrument, Face Amount

$ 110,000,000

Proceeds From Issuance Of Secured Debt

$ 93,080,000

Repayments of Long-term Debt

$ 38,345,000

Debt Instrument, Number of installments

24

Debt Instrument, Frequency of Periodic Payments

quarterly

Debt Instrument, Periodic Payment, Principal

$ 1,862,000

Debt Instrument, Baloon Payment

$ 48,402,000

Debt Instrument, Maturity Date

Mar. 19, 2021

Debt Instrument, Description of Variable Rate Basis

LIBOR plus a margin

Loan Margin Percentage

2.10%

Deutsche Bank [Member] | Secured Debt [Member]

Debt Instrument [Line Items]

Repayments of Long-term Debt

$ 28,600,000

$ 15,750,000

ABN AMRO Bank NV [Member] | Secured Debt [Member]

Debt Instrument [Line Items]

Debt Instrument, Issuance Date

Mar. 26, 2015

Number Of Subsidiaries, Entered Into Loan Agreement

3

Debt Instrument, Face Amount

$ 53,000,000

Proceeds From Issuance Of Secured Debt

$ 50,160,000

Debt Instrument, Number of installments

24

Debt Instrument, Frequency of Periodic Payments

quarterly

Debt Instrument, Periodic Payment, Principal

$ 994,000

Debt Instrument, Baloon Payment

$ 26,310,000

Debt Instrument, Maturity Date

Mar. 30, 2021

Debt Instrument, Description of Variable Rate Basis

LIBOR plus a margin

Loan Margin Percentage

2.00%

Danish Ship FInance [Member] | Secured Debt [Member]

Debt Instrument [Line Items]

Debt Instrument, Issuance Date

Apr. 29, 2015

Number Of Subsidiaries, Entered Into Loan Agreement

1

Debt Instrument, Face Amount

$ 30,000,000

Proceeds From Issuance Of Secured Debt

$ 30,000,000

Debt Instrument, Number of installments

28

Debt Instrument, Frequency of Periodic Payments

quarterly

Debt Instrument, Periodic Payment, Principal

$ 500,000

Debt Instrument, Baloon Payment

$ 16,000,000

Debt Instrument, Maturity Date

Apr. 30, 2022

Debt Instrument, Description of Variable Rate Basis

LIBOR plus a margin

Loan Margin Percentage

2.15%

BNP Paribas [Member] | Secured Debt [Member]

Debt Instrument [Line Items]

Debt Instrument, Issuance Date

Jul. 22, 2015

Debt Instrument, Face Amount

$ 165,000,000

Proceeds From Issuance Of Secured Debt

$ 165,000,000

Debt Instrument, Number of installments

20

Debt Instrument, Frequency of Periodic Payments

quarterly

Debt Instrument, Baloon Payment

$ 69,000,000

Debt Instrument, Maturity Date

Jul. 24, 2020

Debt Instrument, Description of Variable Rate Basis

LIBOR plus a margin

BNP Paribas [Member] | First Eight Installments [Member] | Secured Debt [Member]

Debt Instrument [Line Items]

Debt Instrument, Number of installments

8

Debt Instrument, Periodic Payment, Principal

$ 2,500,000

Loan Margin Percentage

2.35%

BNP Paribas [Member] | From 9th To 12th Installment [Member] | Secured Debt [Member]

Debt Instrument [Line Items]

Debt Instrument, Number of installments

4

Debt Instrument, Periodic Payment, Principal

$ 5,000,000

Loan Margin Percentage

2.30%

BNP Paribas [Member] | From 13th to 20th Installment [Member] | Secured Debt [Member]

Debt Instrument [Line Items]

Debt Instrument, Number of installments

8

Debt Instrument, Periodic Payment, Principal

$ 7,000,000

Loan Margin Percentage

2.25%

ING Bank N.V. [Member] | Secured Debt [Member]

Debt Instrument [Line Items]

Debt Instrument, Issuance Date

Sep. 30, 2015

Number Of Subsidiaries, Entered Into Loan Agreement

2

Debt Instrument, Face Amount

$ 39,683,000

Debt Instrument, Description of Variable Rate Basis

LIBOR plus a margin

Loan Margin Percentage

1.65%

ING Bank N.V. [Member] | Ujae Shipping Company Inc [Member] | Secured Debt [Member]

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 27,950,000

Proceeds From Issuance Of Secured Debt

$ 27,950,000

Debt Instrument, Number of installments

28

Debt Instrument, Frequency of Periodic Payments

quarterly

Debt Instrument, Periodic Payment, Principal

$ 466,000

Debt Instrument, Baloon Payment

$ 14,907,000

Debt Instrument, Maturity Date

Nov. 19, 2022

ING Bank N.V. [Member] | Rairok Shipping Company Inc [Member] | Secured Debt [Member]

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 11,733,000

Proceeds From Issuance Of Secured Debt

$ 11,733,000

Debt Instrument, Number of installments

28

Debt Instrument, Frequency of Periodic Payments

quarterly

Debt Instrument, Periodic Payment, Principal

$ 293,000

Debt Instrument, Baloon Payment

$ 3,520,000

Debt Instrument, Maturity Date

Oct. 6, 2022

Commitment Letter [Member]

Debt Instrument [Line Items]

Number Of Subsidiaries, Entered Into Loan Agreement

3

Debt Instrument, Face Amount

$ 75,735,000

Long-term debt, current and n51

Long-term debt, current and non-current, details 1 (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Maturities of Long-term Debt [Abstract]
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	$ 42,450
Long-term Debt, Maturities, Repayments of Principal in Year Two	44,950
Long-term Debt, Maturities, Repayments of Principal in Year Three	54,450
Long-term Debt, Maturities, Repayments of Principal in Year Four	83,450
Long-term Debt, Maturities, Repayments of Principal in Year Five	183,312
Long-term Debt, Maturities, Repayments of Principal after Year Five	197,329
Total debt outstanding	$ 605,941	$ 486,008

Commitments and Contingencies,

Commitments and Contingencies, textual (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Environmental Remediation Obligations [Abstract]
Insurance Coverage For Pollution	$ 1,000,000
Supplemental Calls Review Period	3 years
Unrecorded Unconditional Purchase Obligation [Abstract]
Unrecorded Unconditional Purchase Obligation	$ 83,487

Commitments and Contingencies53

Commitments and Contingencies, detail (Details) $ in Thousands	Dec. 31, 2015USD ($)
Fixed non-cancellable revenues under time charter contracts [Abstract]
Year 1	$ 69,036
Year 2	3,980
Total	$ 73,016

Capital Stock and Changes in 54

Capital Stock and Changes in Capital Accounts, textuals (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 24, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Preferred Stock
Proceeds from issuance of preferred stock, net of expenses		$ 0	$ 62,698	$ 0
Dividends on series B preferred stock		$ 5,769	$ 5,080
Common Stock
Common Stock, Shares Authorized		200,000,000	200,000,000
Common Stock, Par Or Stated Value Per Share		$ 0.01	$ 0.01
Preferred Stock [Member]
Preferred Stock
Preferred Stock Shares Authorized		25,000,000	25,000,000
Preferred Stock Par Or Stated Value Per Share		$ 0.01	$ 0.01
Stock Issued During Period Shares New Issues			2,600,000
Preferred Stock [Member] | Series A Participating Preferred Stock
Preferred Stock
Preferred Stock Shares Authorized		1,000,000	1,000,000
Preferred Stock Shares Issued		0	0
Preferred Stock Shares Outstanding		0	0
Preferred Stock [Member] | Series B Participating Preferred Stock
Preferred Stock
Preferred Stock Shares Authorized		5,000,000	5,000,000
Preferred Stock Par Or Stated Value Per Share	$ 0.01
Stock Issued During Period Shares New Issues	2,600,000
Shares Issued Price Per Share	$ 25
Preferred Stock Liquidation Preference Per Share	$ 25
Proceeds from issuance of preferred stock, net of expenses	$ 62,698
Preferred Stock Voting Rights		Holders of series B preferred shares have no voting rights other than the ability, subject to certain exceptions, to elect one director if dividends for six quarterly dividend periods (whether or not consecutive) are in arrears and certain other limited protective voting rights.
Preferred Stock Shares Issued		2,600,000	2,600,000
Preferred Stock Shares Outstanding		2,600,000	2,600,000
Preferred Stock Dividend Rate Percentage	8.875%
Preferred Stock Dividend Rate Per Dollar Amount	$ 2.21875
Dividends on series B preferred stock		$ 5,769	$ 5,080
Preferred Stock, Redemption Price Per Share	$ 25

Capital Stock and Changes in 55

Capital Stock and Changes in Capital Accounts, textuals 1 (Details) - shares	Dec. 31, 2015	Nov. 30, 2014	May. 31, 2011
Equity Incentive Plan 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Incentive Plan, Number of Shares Authorized			5,000,000
Common Stock Capital Shares Reserved For Future Issuance	1,384,759
Equity Incentive Plan 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Incentive Plan, Number of Shares Authorized		5,000,000
Common Stock Capital Shares Reserved For Future Issuance		5,000,000

Capital Stock and Changes in 56

Capital Stock and Changes in Capital Accounts, detail (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Non vested restricted common stock, beginning balance	2,491,834	1,358,373	1,451,625
Granted	1,100,000	1,864,000	607,946
Vested	(827,522)	(730,539)	(701,198)
Non vested restricted common stock, ending balance	2,764,312	2,491,834	1,358,373
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted Average Grant Date Fair Value, beginning balance	$ 9.30	$ 10.25	$ 11.90
Weighted Average Grant Date Fair Value, Granted	6.91	9.38	9.06
Weighted Average Grant Date Fair Value, Vested	9.57	11.25	12.64
Weighted Average Grant Date Fair Value, enging balance	$ 8.27	$ 9.30	$ 10.25

Capital Stock and Changes in 57

Capital Stock and Changes in Capital Accounts, textuals 2 (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Arrangements with Employees and Nonemployees [Abstract]
Compensation cost on restricted stock	$ 8,279	$ 7,744	$ 8,203
Unrecognized cost for unvested restricted shares	$ 17,021	$ 17,698
Total Compensation Cost Not yet Recognized, Period for Recognition	1 year 8 months 15 days

Capital Stock and Changes in 58

Capital Stock and Changes in Capital Accounts, textuals 3 (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	May. 22, 2014
Equity [Abstract]
Stock Repurchase Program, Authorized Amount			$ 100,000
Stock repurchased and retired, shares	413,804	2,845,549
Stock repurchased and retired, value	$ 2,673	$ 25,349

Voyage and Vessel Operating E59

Voyage and Vessel Operating Expenses, details (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Direct Operating Costs [Abstract]
Bunkers	$ 7,522	$ 2,026	$ (62)
Commissions charged by related parties	7,632	8,245	7,939
Commissions charged by a related party (Note 4(d))	43	0	0
Mischellaneous	331	394	242
Voyage expenses	$ 15,528	$ 10,665	$ 8,119

Voyage and Vessel Operating E60

Voyage and Vessel Operating Expenses, details 1 (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating Costs and Expenses [Abstract]
Crew wages and related costs	$ 50,494	$ 50,442	$ 45,451
Insurance	6,778	6,723	6,438
Spares and consumable stores	16,913	17,106	14,825
Repairs and maintenance	9,094	8,379	5,548
Tonnage taxes (Note 15)	2,144	2,109	1,040
Environmental Costs	1,727	1,314	2
Other operating expenses	1,122	850	3,907
Vessel operating expenses	$ 88,272	$ 86,923	$ 77,211

Interest and Finance Costs, det

Interest and Finance Costs, detail (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest and Finance Costs [Abstract]
Interest expense	$ 13,922	$ 7,815	$ 7,600
Amortization of financing costs	1,364	519	473
Commitment fees and other costs	269	93	67
Interest and finance costs	$ 15,555	$ 8,427	$ 8,140

Interest and Finance Costs, tex

Interest and Finance Costs, textual (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest and Finance Costs [Abstract]
Interest Costs Incurred	$ 14,622	$ 8,221	$ 8,068
Interest Costs, Capitalized During Period	$ 700	$ 406	$ 468

Loss per Share, detail (Details

Loss per Share, detail (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Abstract]
Net loss	$ (64,713)	$ (10,268)	$ (21,205)
Less dividends on series B preferred shares	(5,769)	(5,080)	0
Net loss attributed to common stockholders	$ (70,482)	$ (15,348)	$ (21,205)
Weighted average number of common shares, basic and diluted	79,518,009	81,292,290	81,328,390
Loss per share, basic and diluted	$ (0.89)	$ (0.19)	$ (0.26)

Income Taxes, textual (Details)

Income Taxes, textual (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Uncertainties [Abstract]
Minimum Stock Ownership Percentage For Tax Exemption	50.00%
Minimum Vote And Value Percentage Of Regularly Traded Stock	50.00%
Significant Shareholder Percentage	5.00%
Tax Rate On US Source Shipping Income	2.00%
Unrecognized tax expense due to exemption	$ 166	$ 246	$ 238

Financial Instruments, textual

Financial Instruments, textual (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Financial Instruments [Abstract]
Trading Symbol	DSX
Derivative, Inception Date	May 31, 2009
Derivative, Term of Contract	5 years
Types of Interest Rate Derivatives Used	zero cost collar agreement
Derivative, Floor Interest Rate	1.00%
Derivative, Cap Interest Rate	7.80%
Notional Amount of financial instrument	$ 100,000
Derivative, Maturity Date	May 27, 2014
Income / (loss) from derivative instruments	$ 0	$ 68	$ (118)
Unsecured Senior Notes [Member]
Financial Instruments [Abstract]
Trading Symbol	DSXN
Fair Value, Inputs, Level 1 [Member] | Unsecured Senior Notes [Member]
Financial Instruments [Abstract]
Notes Payable, Fair Value Disclosure	$ 48,146

Subsequent Events, textual (Det

Subsequent Events, textual (Details) - Subsequent Events $ / shares in Units, $ in Thousands	Jan. 15, 2016USD ($)$ / shares	Jan. 07, 2016USD ($)	Feb. 04, 2016USD ($)	Mar. 04, 2016USD ($)	Feb. 23, 2016USD ($)shares	Mar. 31, 2016	Mar. 11, 2016USD ($)
Export Import Bank of China [Member]
Subsequent Event [Line Items]
Number Of Subsidiaries, Entered Into Loan Agreement		3
Debt Instrument, Face Amount		$ 75,735
Debt Instrument, Maturity Date		Mar. 31, 2032
Series B Participating Preferred Stock
Subsequent Event [Line Items]
Dividends payable on series B preferred stock, per share | $ / shares	$ 0.5546875
Dividends payable on series B preferred stock, current	$ 1,442
Dividends Payable, Date of Record	Jan. 14, 2016
Vessels Acquisition [Member]
Subsequent Event [Line Items]
Number Of Vessels To Be Acquired			3
Contract Price Of Vessels To Be Acquired			$ 39,800	$ 39,265
Number Of Vessels Delivered						2
Deferred Bonus [Member]
Subsequent Event [Line Items]
Accrued Bonuses, Current					$ 775
Restricted Stock [Member]
Subsequent Event [Line Items]
Issuance of restricted stock and compensation cost, shares | shares					2,150,000
Stock Issued During Period, Value, Restricted Stock Award, Gross					$ 4,859
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					3 years
New Commitment Letter [Member]
Subsequent Event [Line Items]
Number Of Subsidiaries, Entered Into Loan Agreement							2
Debt Instrument, Face Amount							$ 25,755