Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 30

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 3
Chunk 30
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trough to

peak, the

time lag

between the

effect of

charter rates

on market

values

of ships can vary.

The market

values of

our vessels

have generally

experienced high

volatility,

and you

should expect

the

market values of our vessels to fluctuate depending on a number of

factors including:

●

the prevailing level of charter hire rates;

●

general economic and market conditions affecting the shipping industry;

●

competition from other shipping companies and other modes

of transportation;

●

the types, sizes and ages of vessels;

●

the supply of and demand for vessels;

●

scrap values;

●

applicable governmental or other regulations;

●

technological advances;

●

the need

to upgrade

vessels as

a result

of charterer

requirements, technological

advances in

vessel

design or equipment or otherwise; and

●

the cost of newbuildings.

In

addition,

as

vessels

grow

older,

they

generally

decline

in

value.

If

the

market

values

of

our

vessels

decline, we may

not be in

compliance with certain

covenants contained in our

loan facilities and

we may

not be able to refinance our

debt or obtain additional financing or incur

debt on terms that are acceptable

to

us

or

at

all.

As

of

December

31,

2024,

we

were

in

compliance

with

all

of

the

covenants

in

our

loan

facilities. If

we are

not able

to comply

with the

covenants in

our loan

facilities or

are unable

to obtain

waivers

or

amendments

or

otherwise

remedy

the

relevant

breach,

our

lenders

could

accelerate

our

debt

and

foreclose on our vessels.

Furthermore, if

we sell

any of

our owned

vessels at

a time

when prices

are depressed,

our business,

results

of operations, cash flow and financial condition

could be adversely affected. Moreover,

if we sell a vessel

23

at a time when vessel prices have fallen, the sale may be at less than the vessel's carrying amount in our

financial statements,