Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 283

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 19
Chunk 283
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of credit

risk, consist

principally of

cash and

trade accounts

receivable. The
Company places

its temporary

cash investments,

consisting mostly

of deposits,

with various

qualified
financial institutions

and performs

periodic evaluations

of the

relative credit

standing of

those financial
institutions that are considered in the Company’s investment strategy. The Company

limits its credit
risk

with

accounts

receivable

by

performing

ongoing

credit

evaluations

of

its

customers’

financial
condition and generally does

not require collateral for

its accounts receivable

and does not have

any
agreements to mitigate credit risk.
q)
Accounting for Revenues and Expenses:
Revenues are generated from time

charter agreements
which contain a lease

as they meet the

criteria of a lease

under ASC 842.

The time charter contracts
are considered

operating leases because

(i) the vessel

is an

identifiable asset (ii)

the owner

of the

DIANA SHIPPING INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2024

(Expressed in thousands of U. S. Dollars - except share, per share

data, unless otherwise stated)

F-17

vessel does not have substantive substitution

rights and (iii) the charterer has

the right to control the
use of the

vessel during the term

of the contract and

derives the economic benefits

from such use.
Agreements with

the same

charterer are

accounted for

as separate

agreements according to

their
specific

terms

and

conditions.

All

agreements

contain

a

minimum

non-cancellable

period

and

an
extension period at the option

of the charterer.

Each lease term is assessed at

the inception of that
lease. Under a time charter agreement, the charterer pays

a daily hire for the use of the

vessel and
reimburses the owner for

hold cleanings, extra

insurance premiums for navigating

in restricted areas
and

damages

caused

by

the

charterers.

Revenues

from

time

charter

agreements

providing

for
varying annual

rates are

accounted for

as operating

leases and

thus recognized

on a

straight-line
basis over the non-c