Subsidiary

 Country of Incorporation

Aerik Shipping Company Inc.

Marshall Islands

Ailuk Shipping Company Inc.

Marshall Islands

Aster Shipping Company Inc.

Marshall Islands

Bikar Shipping Company Inc.

Marshall Islands

Bikini Shipping Company Inc.

Marshall Islands

Bokak Shipping Company Inc.

Marshall Islands

Ebadon Shipping Company Inc.

Marshall Islands

Erikub Shipping Company Inc.

Marshall Islands

Fayo Shipping Company Inc.

Marshall Islands

Gala Properties Inc.

Marshall Islands

Guam Shipping Company Inc.

Marshall Islands

Jabat Shipping Company Inc.

Marshall Islands

Jaluit Shipping Company Inc.

Marshall Islands

Jemo Shipping Company Inc.

Marshall Islands

Kaben Shipping Company Inc.

Marshall Islands

Kili Shipping Company Inc.

Marshall Islands

Knox Shipping Company Inc.

Marshall Islands

Lae Shipping Company Inc.

Marshall Islands

Lelu Shipping Company Inc.

Marshall Islands

Lib Shipping Company Inc.

Marshall Islands

Majuro Shipping Company Inc.

Marshall Islands

Makur Shipping Company Inc.

Marshall Islands

Mandaringina Inc.

Marshall Islands

Mejato Shipping Company Inc.

Marshall Islands

Namu Shipping Company Inc.

Marshall Islands

Palau Shipping Company Inc.

Marshall Islands

Pulap Shipping Company Inc.

Marshall Islands

Rairok Shipping Company Inc.

Marshall Islands

Rakaru Shipping Company Inc.

Marshall Islands

Taka Shipping Company Inc.

Marshall Islands

Taroa Shipping Company Inc.

Marshall Islands

Toku Shipping Company Inc.

Marshall Islands

Tuvalu Shipping Company Inc.

Marshall Islands

Ujae Shipping Company Inc.

Marshall Islands

Wake Shipping Company Inc.

Marshall Islands

Weno Shipping Company Inc.

Marshall Islands

Wotho Shipping Company Inc.

Marshall Islands

Buenos Aires Compania Armadora S.A.

Panama

Cerada International S.A.

Panama

Changame Compania Armadora S.A.

Panama

Chorrera Compania Armadora S.A.

Panama

Cypres Enterprises Corp.

Panama

Darien Compania Armadora S.A.

Panama

Diana Ship Management Inc.

Marshall Islands

Diana Shipping Services S.A.

Panama

Eaton Marine S.A.

Panama

Husky Trading, S.A.

Panama

Panama Compania Armadora S.A.

Panama

Skyvan Shipping Company S.A.

Panama

Texford Maritime S.A.

Panama

Urbina Bay Trading, S.A.

Panama

Vesta Commercial, S.A.

Panama

Marfort Navigation Company Limited

Cyprus

Silver Chandra Shipping Company Limited

Cyprus

Bulk Carriers (USA) LLC

United States (Delaware)