Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 137

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 5
Chunk 137
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 ownership days for the relevant period.

The following table reflects such factors for the periods indicated:

As of and for the

Year Ended December 31,

2024

2023

2022

Fleet Data:

Average number of vessels (1)

38.9

41.1

35.4

Number of vessels at year-end

38.0

40.0

42.0

Weighted average age of vessels at year-end (in

years)

11.3

10.5

10.2

Ownership days (2)

14,219

14,986

12,924

Available days (3)

14,057

14,867

12,449

Operating days (4)

14,009

14,824

12,306

Fleet utilization (5)

99.7%

99.7%

98.9%

Average Daily Results:

Time charter equivalent (TCE) rate (6)

$

15,267

$

16,713

$

22,735

Daily vessel operating expenses (7)

5,808

5,704

5,574

The following table reflects the calculation of our TCE rates for

the periods presented:

Year Ended December 31,

2024

2023

2022

(in thousands of U. S. dollars, except for TCE rates, which

are expressed in U. S. dollars, and available days)

Time charter revenues

$

228,209

$

262,098

$

289,972

Less: voyage expenses

(13,607)

(13,621)

(6,942)

Time charter equivalent revenues

$

214,602

$

248,477

$

283,030

Available days

14,057

14,867

12,449

Time charter equivalent (TCE) rate

$

15,267

$

16,713

$

22,735

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;

71

●

maintenance and upgrade work