Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 114

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 4
Chunk 114
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i)

net

cost

of

increased or

additional

public services

necessitated by

removal

activities

following a

discharge of oil, such as protection from fire,

safety or health hazards, and loss of subsistence

use

of natural resources.

OPA

contains

statutory

caps

on

liability

and

damages;

such

caps

do

not

apply

to

direct

cleanup

costs.

Effective November 12,

2019, the

USCG adjusted

the limits

of OPA

liability for

non-tank vessels,

edible oil

tank vessels,

and any

oil spill

response vessels,

to the

greater of

$1,200 per

gross ton

or $997,100

(subject to periodic

adjustment for

inflation). On December

23, 2022,

the USCG issued

a final rule

to adjust

the limitation of

liability under the OPA.

Effective March 23,

2022, the new adjusted

limits of OPA

liability

for non-tank

vessels, edible oil

tank vessels,

and any

oil spill

response vessels,

to the

greater of

$1,300

per gross

ton or

$1,076,000 (subject

to periodic

adjustment for

inflation). These limits

of liability

do not

apply

if an incident was proximately caused by the violation of an applicable U. S. federal safety,

construction or

operating

regulation

by

a

responsible

party

(or

its

agent,

employee

or

a

person

acting

pursuant

to

a

contractual relationship), or a responsible party's gross negligence or willful misconduct. The limitation on

liability similarly does not apply if the responsible party fails or

refuses to (i) report the incident as required

by law where the responsible party knows or

has reason to know of the incident; (ii)

reasonably cooperate

and assist

as requested

in connection

with oil

removal activities;

or (iii)

without sufficient

cause, comply

with an order issued under the Federal

Water Pollution Act (Section 311 (c), (e)) or the Intervention on the

High Seas Act.

CERCLA contains

a similar

liability regime

whereby owners

and operators

of vessels

are liable

for