Company: DSX-PB
Filing Date: 2025-09-15
Form Type: 6-K
Source: 0001562762-25-000232
Chunk: 9

Company: DIANA SHIPPING INC.
Filing Date: 2025-09-15
Form: 6-K
Chunk 9
---

7,078

Fleet utilization

99.5%

99.5%

Time charter equivalent (TCE) rate

$

15,615

$

15,078

The following table reflects the calculation of our TCE rates for

the periods presented:

#### For the six months ended June 30,

#### 2025

#### 2024
in thousands of US Dollars, except for days and

TCE rates

Time charter revenues

$

109,625

$

113,648

less: Voyage expenses

(6,064)

(6,413)

Time charter equivalent revenues

103,561

107,235

Available days

6,632

7,112

Time charter equivalent (TCE) rate

$

15,615

$

15,078

#### Time Charter Revenues
Our revenues are driven primarily by

the number of vessels in our

fleet, the number of days during which

our

vessels

operate

and

the

amount

of

daily

charter

hire

rates

that

our

vessels

earn

under

charters,

which, in turn, are affected by a number of factors, including:

●

the duration of our charters;

●

our decisions relating to vessel acquisitions and disposals;

●

the amount of time that we spend positioning our vessels;

●

the amount of time that our vessels spend in drydock undergoing

repairs;

●

maintenance and upgrade work;

●

the age, condition and specifications of our vessels;

●

levels of supply and demand in the dry bulk shipping industry.

Vessels

operating on time

charters for a

certain period of

time provide more

predictable cash flows

over

that

period

of

time

but

can

yield

lower

profit

margins than

vessels

operating in

the

spot

charter market

during periods characterized by favorable market conditions. Vessels operating in the spot charter market

generate

revenues

that

are

less

predictable

but

may

enable

their

owners

to

capture

increased

profit

margins during

periods of

improvements in

charter rates

although their owners

would be

exposed to the

r

isk of

declining charter rates,

which may have

a materially adverse

impact on financial

performance. As

8

we employ vessels

on period chart