Diana Shipping's November offer to buy back millions of shares has been apparently well received by shareholders.

Initial tally shows that the New York-listed bulker owner's move to repurchase 4.2 million common units at $3.60 each has been oversubscribed by 165%, with 11.2 million sold.

The company last week extended a 20 December deadline by one day for the 5 December closing of US markets mourn President George H.W.