Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 104

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 4
Chunk 104
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 and requirements. The ISM Code requires the party with operational

control of a

vessel to develop

an extensive

safety management

system that

includes, among

other things,

the adoption

of a

safety and

environmental protection policy

setting forth

instructions and procedures

for operating its

57

vessels safely and describing procedures

for responding to emergencies. Through

strong leadership and

a

disciplined,

clearly

documented

management

system,

the

Company

promotes

the

concept

of

HSSE

(Health, Safety,

Security and

Environmental) excellence

at all

levels in

the organisation.

This concept

is

achieved

by consistent

measurement and

feedback of

the

Company’s Management

System in

order to

generate

continuous

and

sustainable

improvement

in

Health,

Safety,

Security,

and

Quality

and

Environmental

(including

Energy

Efficiency)

(HSSQE)

management

processes. The

failure

of

a

vessel

owner or bareboat

charterer to

comply with

the ISM

Code may

subject such

party to

increased liability, may

decrease available insurance coverage for the affected vessels and

may result in a denial of access to, or

detention in, certain ports.

The ISM Code requires that vessel operators obtain a safety management certificate for each vessel they

operate. This

certificate evidences

compliance by

a vessel’s management

with the

ISM Code

requirements

for a

safety management

system. No

vessel can

obtain a

safety management

certificate unless

its manager

has been

awarded a document

of compliance, issued

by each flag

state, under the

ISM Code. We

have

obtained applicable documents of compliance for our offices and safety management certificates for all of

our vessels

for which

the certificates

are required by

the IMO.

The documents of

compliance and safety

management certificate are renewed as required.

Regulation II-1/3-10

of

the

SOLAS Convention

governs ship

construction and

stipulates that

ships

over

150 meters

in length

must have

adequate strength,

integrity and

stability to

minimize risk

of loss

or pollution.

Goal-based standards amendments in SOLAS