Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 113

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 4
Chunk 113
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 S. Oil Pollution Act

of 1990 (“ OPA”)

established an extensive regulatory and liability regime for

the

protection and

cleanup of

the environment

from oil

spills. OPA

affects all

“owners and

operators” whose

vessels trade or

operate within the U. S., its territories

and possessions or whose

vessels operate in U. S.

waters, which includes the U. S.’s territorial sea and its 200 nautical mile exclusive economic zone around

the U. S.

The U. S.

has

also

enacted

the

Comprehensive

Environmental

Response,

Compensation

and

Liability Act (“ CERCLA”), which applies

to the discharge of hazardous substances other

than oil, except in

limited circumstances, whether on land or at sea.

OPA and CERCLA both define “owner and operator” in

the case of a vessel as any person owning, operating or chartering by demise, the

vessel.

Both OPA and

CERCLA impact our operations.

61

Under OPA,

vessel owners

and operators

are “responsible

parties” and

are jointly,

severally and

strictly

liable (unless the

spill results solely

from the act or

omission of a

third party, an act of God

or an act

of war)

for

all

containment

and

clean-up

costs

and

other

damages

arising

from

discharges

or

threatened

discharges of

oil from their

vessels, including bunkers

(fuel).

OPA

defines these other

damages broadly

to include:

(i)

injury to, destruction or loss of, or loss of use of, natural resources and

related assessment costs;

(ii)

injury to, or economic losses resulting from, the destruction of

real and personal property;

(iii)

loss of subsistence use of natural resources that are injured, destroyed

or lost;

(iv)

net

loss of

taxes, royalties,

rents, fees

or net

profit revenues

resulting from

injury,

destruction or

loss of real or personal property, or natural resources;

(v)

lost profits

or impairment

of earning

capacity due

to injury,

destruction or

loss of

real or

personal

property or natural resources; and

(v