Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 284

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 19
Chunk 284
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ancellable rental periods of such agreements,

as service is performed.
The charterer

pays to

third parties

port, canal

and bunkers

consumed during

the term

of the

time
charter agreement, unless they are for the account of the owner, in which case,

they are included in
voyage expenses. Voyage expenses also include commissions on time charter revenue (paid to the
charterers, the brokers

and the managers)

and gain or

loss from bunkers

resulting mainly from

the
difference

in

the

value

of

bunkers

paid

by

the

Company

when

the

vessel

is

redelivered

to

the
Company from

the charterer

under the

vessel’s previous

time charter

agreement and

the value

of
bunkers sold

by the

Company when

the vessel

is delivered

to a

new charterer

(Note 12).

Under a
time

charter

agreement,

the

owner

pays

for

the

operation

and

the

maintenance

of

the

vessel,
including

crew,

insurance,

spares

and

repairs,

which

are

recognized

in

operating

expenses.

The
Company,

as lessor, has

elected not to allocate the consideration

in the agreement to the

separate
lease

and

non-lease

components

(operation

and

maintenance

of

the

vessel)

as

their

timing

and
pattern

of

transfer

to

the

charterer,

as

the

lessee,

are

the

same

and

the

lease

component,

if
accounted

for

separately,

would

be

classified

as

an

operating

lease.

Additionally,

the

lease
component

is

considered

the

predominant

component,

as

the

Company

has

assessed

that

more
value is ascribed to the vessel rather than to the services provided under the time charter contracts.
In

time

charter

agreements

apart

from

the

agreed

hire

rate,

the

Company

may

be

entitled

to

an
additional income,

such as

ballast bonus.

Ballast bonus

is paid

by charterers

for repositioning

the
vessel