Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 299

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 19
Chunk 299
---
inputs of the fair

value hierarchy.

In 2024 and 2023,

unrealized loss on
investment

amounted

to

$
3,905
and

$
1,022,

respectively,

resulting

from

such

valuation,

included

in
gain/(loss)

on

related

party

investments,

separately

presented

in

the

accompanying

consolidated
statements of income.
As of

December 31,

2024 and

2023, the

Company’s investment

in the

Series B

preferred shares

and Series
C preferred shares,

amounted to $
180
and $
180, respectively, including $
3
and $
3, respectively, dividends
receivable

on

the

Series

C

preferred

shares,

and

are

included

in

investments

in

a

related

party

in

the
accompanying consolidated balance sheets.
In 2023

and 2022, the

Company distributed
13,157
and
25,000
Series D Preferred

Shares, respectively,
as non-cash dividends

to its shareholders (Note 11).

The Series D Preferred Shares were offered as non-
cash consideration

for the

sale of

the vessels

Melia (in

2023) (Note

6) and

Baltimore (in

2022) to

OceanPal.
The Company

accounted for

the transactions

as a

nonreciprocal transfer

with its

owners in

accordance
with ASC

845 and measured

the fair

value of the

preferred shares on

the date

of declaration at

$
10,761
and $
18,189, respectively.

The fair

value of the

Series D

Preferred Shares was

determined by using

the
income approach,

taking into

account the

present value

of the

future cash

flows, the

holder of

shares would
expect to receive from holding

the equity instrument. In 2023 and 2022,

the transactions

resulted in a gain
of $
761
and $
589, respectively,

being the difference

between the fair

value and the

carrying value of the
investments, separately

presented as gain/(loss)

on related party

investments in

the related accompanying
consolidated statements

of income.
In

2024,

2023

and

2022