Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 106

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 4
Chunk 106
---
provisions.

The

newest

edition

of

the

IMDG

Code

took

effect

on

January

1,

2024,

although

the

changes

are

largely

incremental.

The

IMO

has

also

adopted

the

International

Convention

on

Standards

of

Training,

Certification

and

Watchkeeping for Seafarers (“ STCW”).

As of February

2017, all seafarers

are required to

meet the STCW

standards

and

be in

possession of

a

valid STCW

certificate.

Flag

states that

have

ratified SOLAS

and

STCW

generally

employ

the

classification

societies,

which

have

incorporated

SOLAS

and

STCW

requirements into their class rules, to undertake surveys to confirm compliance.

The

IMO's

Maritime

Safety

Committee

and

MEPC,

respectively,

each

adopted

relevant

parts

of

the

International Code for Ships Operating in Polar Water

(the “ Polar Code”). The Polar Code, which entered

into force

on January

1, 2017,

covers design,

construction, equipment,

operational, training,

search and

rescue as well

as environmental protection matters

relevant to ships

operating in the

waters surrounding

58

the two

poles. It

also includes mandatory

measures regarding

safety and pollution

prevention as

well as

recommendatory provisions. The Polar Code applies to new ships constructed after January 1, 2017, and

after

January

1,

2018,

ships

constructed

before

January

1,

2017

are

required

to

meet

the

relevant

requirements by the earlier of their first intermediate or renewal survey.

Furthermore, recent action by the

IMO’s Maritime Safety Committee and United

States agencies indicates

that cybersecurity regulations for the maritime industry are

likely to be further developed in the near future

in an

attempt to

combat cybersecurity

threats. By

IMO resolution,

administrations are

encouraged

to ensure

that cyber-risk management systems are incorporated by ship-owners

and managers by their first annual

Document of Compliance audit after January

1, 2021. In February 2021, the

U. S. Coast Guard published

guidance on addressing