Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 115

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 4
Chunk 115
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 cleanup,

removal and remedial costs, as well as damages for

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

including

the

reasonable

costs

associated

with

assessing the

same,

and

health

assessments

or

health

effects studies. There is no liability

if the discharge of a hazardous

substance results solely from the

act or

omission of a third party, an act of God

or an act of war. Liability under CERCLA

is limited to the greater

of

$300 per gross ton or $5.0 million for vessels carrying

a hazardous substance as cargo and the greater of

$300 per gross ton or $500,000 for any other vessel. These limits do not apply (rendering the responsible

person liable for the total cost

of response and damages) if

the release or threat of release

of a hazardous

substance

resulted

from

willful

misconduct

or

negligence,

or

the

primary

cause

of

the

release

was

a

violation of applicable safety, construction or operating standards or regulations.

The limitation on liability

also does

not apply

if the

responsible person

fails or

refused to

provide all

reasonable cooperation

and

assistance as requested in connection with response activities where

the vessel is subject to OPA.

OPA and CERCLA each preserve the right to recover damages under existing law, including maritime tort

law.

OPA

and CERCLA both require

owners and operators of

vessels to establish and

maintain with the

62

USCG evidence of

financial responsibility sufficient to

meet the maximum

amount of liability to

which the

particular

responsible

person

may

be

subject.

Vessel

owners

and

operators

may

satisfy

their

financial

responsibility obligations by providing a proof of insurance, a

surety bond, qualification as a self-insurer or

a

guarantee.

We comply

and

plan

to

comply going

forward

with

the

USCG’s

financial

responsibility

regulations by providing applicable certificates of financial responsibility.

The 2010

Deepwater Horizon

oil spill

in the

Gulf of

Mexico resulted

in additional

regulatory initiatives

or

statutes, including higher liability caps under OPA