Form SCHEDULE 13D DIANA SHIPPING INC. Filed by: Taracan Investments S.A.
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13D
Under the Securities Exchange Act of 1934
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DIANA SHIPPING INC. (Name of Issuer) |
Shares of Common Stock, par value $0.01 per share (Title of Class of Securities) |
Y2066G104 (CUSIP Number) |
Ms. Maria Dede Pendelis 16, Palaio Faliro Athens, J3, 175 64 30-210-9470-100 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
02/25/2026 (Date of Event Which Requires Filing of This Statement) |
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the
Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).
SCHEDULE 13D
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| CUSIP No. | Y2066G104 |
| 1 |
Name of reporting person
Simeon Palios | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
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| 6 | Citizenship or place of organization
GREECE
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| Number of Shares Beneficially Owned by Each Reporting Person With: |
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| 11 | Aggregate amount beneficially owned by each reporting person
7,153,374.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
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| 13 | Percent of class represented by amount in Row (11)
5.7 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
SCHEDULE 13D
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| CUSIP No. | Y2066G104 |
| 1 |
Name of reporting person
Taracan Investments S.A. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
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| 6 | Citizenship or place of organization
MARSHALL ISLANDS
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| Number of Shares Beneficially Owned by Each Reporting Person With: |
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| 11 | Aggregate amount beneficially owned by each reporting person
4,940,311.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
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| 13 | Percent of class represented by amount in Row (11)
4 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
SCHEDULE 13D
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| CUSIP No. | Y2066G104 |
| 1 |
Name of reporting person
Limon Compania Financiera S.A. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
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| 6 | Citizenship or place of organization
MARSHALL ISLANDS
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| Number of Shares Beneficially Owned by Each Reporting Person With: |
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| 11 | Aggregate amount beneficially owned by each reporting person
2,213,063.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
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| 13 | Percent of class represented by amount in Row (11)
1.7 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
SCHEDULE 13D
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| Item 1. | Security and Issuer | |
| (a) | Title of Class of Securities:
Shares of Common Stock, par value $0.01 per share | |
| (b) | Name of Issuer:
DIANA SHIPPING INC. | |
| (c) | Address of Issuer's Principal Executive Offices:
Pendelis 16, Palaio Faliro, Athens,
GREECE
, 175 64. | |
Item 1 Comment:
This joint statement on Schedule 13D (the "Schedule 13D") is filed with respect to the shares of common stock, par value $0.01 per share (the "Shares"), of Diana Shipping Inc., a Marshall Islands corporation (the "Issuer"). The principal executive office and mailing address of the Issuer is Pendelis 16, 175 64 Palaio Faliro, Athens, Greece. | ||
| Item 2. | Identity and Background | |
| (a) | This Schedule 13D is being filed on behalf of Simeon Palios ("Mr. Palios"), a citizen of Greece, Taracan Investments S.A., a Marshall Islands corporation ("Taracan"), and Limon Compania Financiera S.A., a Marshall Islands corporation ("Limon"). Mr.Palios, Taracan, and Limon are collectively referred to as the "Reporting Persons." Mr. Palios may be deemed to beneficially own all of the issued and outstanding shares of Taracan as the result of Palios' ability to control the vote and disposition of such shares. | |
| (b) | The principal business address of each Reporting Person is Pendelis 16, 175 64 Palaio Faliro, Athens, Greece. | |
| (c) | The information set forth in Item 2(a) and Item 2(b) above is hereby incorporated herein by reference. | |
| (d) | The Reporting Persons, and, to the best of their knowledge, each of the Principals have not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). | |
| (e) | The Reporting Persons, and, to the best of their knowledge, each of the Principals, have not, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. | |
| (f) | Mr. Palios is a citizen of Greece. | |
| Item 3. | Source and Amount of Funds or Other Consideration | |
On February 25, 2026, 1,694,227 Shares were granted to Taracan Investments S.A. pursuant to the Issuer's Equity Incentive Plan.
The Shares beneficially owned by the Reporting Persons also include Shares issued by way of warrants, Issuer Equity Incentive Plan grants, and stock dividends issued to the Reporting Persons. | ||
| Item 4. | Purpose of Transaction | |
Mr. Palios, a member of the Board of Directors of the Issuer, may have influence over the corporate activities of the Issuer, including activities which may relate to items described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.
The Reporting Persons acquired the Shares, as described herein, solely for investment purposes. The Reporting Persons, at any time and from time to time, may acquire additional Shares, including in connection with the provision of any services or other strategic transactions with the Issuer, or dispose of any or all of the Shares they own depending upon an ongoing evaluation of their investment in the Shares, prevailing market conditions, other investment opportunities, other investment considerations and/or other factors. The Reporting Persons further reserve the right to act in concert with any other shareholders of the Issuer, or other persons, for a common purpose should they determine to do so, and/or to recommend courses of action to the Issuer's management, the Issuer's Board of Directors, the Issuer's shareholders and others. In addition, the Reporting Persons are in contact with members of the Issuer's management, the members of the Issuer's Board of Directors, other significant shareholders and others regarding alternatives that the Issuer could employ to increase shareholder value. | ||
| Item 5. | Interest in Securities of the Issuer | |
| (a) | As of March 12, 2026, the Issuer had 123,539,757 Shares outstanding. The following persons report beneficial ownership of the following Shares. | |
| (b) | Taracan is the record holder of 4,940,311 Shares, representing 4.0% of the Issuer's issued and outstanding Shares. Limon is the record holder of 2,213,063 Shares, representing 1.7% of the Issuer's issued and outstanding Shares. Mr. Palios indirectly may be deemed to beneficially own 7,153,374 Shares in aggregate, representing 5.7% of the Issuer's issued and outstanding shares, through Taracan and Limon, as the result of his ability to control the vote and disposition of such entities.
Taracan has the sole power to vote or direct the vote of 0 Shares and has the shared power to vote or direct the vote of 4,940,311 Shares, representing 4.0% of the Issuer's issued and outstanding Shares. Limon has the sole power to vote or direct the vote of 0 Shares and has the shared power to vote or direct the vote of 2,213,063 Shares, representing 1.7% of the Issuer's issued and outstanding Shares. Mr. Palios has the sole power to vote or direct the vote of 0 Shares and has the shared power to vote or direct the vote of 7,153,374 Shares, in aggregate, representing 5.7% of the Issuer's issued and outstanding Shares, through Taracan and Limon. | |
| (c) | None of the Reporting Persons, and to the knowledge of the Reporting Persons, none of the Principals, has effected any transaction in the Common Shares of the Issuer during the past 60 days. | |
| (d) | Except as set forth above in Item 4 and this Item 5 and the Principals, no other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, any of the Common Shares beneficially owned by the Reporting Persons. | |
| (e) | Not applicable. | |
| Item 6. | Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer | |
The Reporting Persons are not party to any contracts, arrangements or understanding or relationships with respect to the Shares or any other security of the Issuer. | ||
| Item 7. | Material to be Filed as Exhibits. | |
Exhibit A: Joint Filing Agreement | ||
| SIGNATURE | |
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
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ATTACHMENTS / EXHIBITS