Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 157

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 5
Chunk 157
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lease,

at

specific prices, subject to irrevocable

and written notice to the

owner. If

not repurchased earlier,

we have

the

obligation to

repurchase the

vessels for

$13.0

million, each,

on the

expiration of

each

lease on

the

eighth year.

On

December

6,

2022,

we

entered

into

a

sale

and

leaseback

agreement

for

$29.9

million

with

an

unaffiliated third party, for

a period of

ten years,

under which

we pay

hire, monthly

in advance,

and we

have

the

option

to

repurchase

the

vessel

after

the

end

of

the

third

year

of

the

charter

period,

or

each

year

thereafter, until the

termination of the lease, at specific

prices, subject to irrevocable and written

notice to

the owner.

If not repurchased earlier,

we have the obligation to repurchase the

vessel for $8.1 million, on

the expiration of the lease on the tenth year.

Guarantees

On March 30,

2023, we entered

into a corporate

guarantee with Nordea

under which we

guaranteed the

performance by

Bergen Ultra,

an

equity method

investee

owning one

dry

bulk

carrier,

of

its

obligations

under a loan agreement with

the bank maturing on March

30, 2028. We consider the

likelihood of having

to make any

payments under

the guarantee

to be

remote, as

the loan is

also secured

by an

account pledge

by

Bergen,

first

preferred

mortgage

on

the

vessel,

a

first

priority

general

assignment

of

the

earnings,

insurances and requisition

compensation of the vessel,

a charter party assignment,

a partnership interests

security

deed,

and

a

manager’s

undertaking.

As

of

December

31,

2024,

the

loan

had

an

outstanding

balance of $13.5 million.

C.

Research and development, patents and licenses

We

incur from

time to

time expenditures

rel