Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 227

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 11
Chunk 227
---
Item 11.

Quantitative and Qualitative Disclosures about Market Risk

Interest Rates

We

are

exposed to

market risks

associated with

changes

in

interest rates

relating to

our

loan facilities,

according to which we were paying interest at term SOFR plus a margin.

Increases in interest rates could

110

affect

our

results

of

operations.

An

increase

of

1%

in

the

interest

rates

of

our

loan

facilities

bearing

a

variable interest rate during 2024, could have increased our interest

cost by $3.8 million.

We

will

continue

to

have

debt

outstanding,

which

could

impact

our

results

of

operations

and

financial

condition. We manage our exposure in interest rates, by maintaining

a mix of financing under agreements

with floating and

fixed interest rates.

More specifically, during 2022, we refinanced

part of our loans

having

a floating interest

rate, with sale

and leaseback

transactions with fixed

rates. Also, in

2023, we entered

into

an interest rate swap for

$30 million under which we

pay fixed interest and receive

floating. Through these

agreements and

our bond,

also bearing

fixed interest

rate, we

manage part

of our

exposure in

interest rates

caused by the remaining agreements which bear floating interest rates.

As of December

31, 2024, 2023

and 2022, and

as of the

date of this

annual report, we

did not and

have

not designated any financial instruments as accounting hedging

instruments.

Currency and Exchange Rates

We generate all of our

revenues in U. S. dollars

but currently incur less

than half of our

operating expenses

(around 29% in 2024 and

around 29% in 2023) and about

half of our general and administrative

expenses

(around 46% in 2024 and around

44% in 2023) in currencies other

than the U. S. dollar, primarily the Euro.

For

accounting

purposes,

including

throughout

this

annual

report,

expenses

incurred

in

Euros

are

converted

into

U. S.

dollars

at

the

exchange