Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 130

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 4
Chunk 130
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 We

carry

insurance

coverage as customary in

the shipping industry. However, not all risks can be

insured, specific claims

may

be rejected, and we might not be always

able to obtain adequate insurance coverage

at reasonable rates.

While we maintain hull and machinery insurance, war risks

insurance, protection and indemnity cover and

freight, demurrage and

defense cover for

our operating fleet

in amounts that

we believe to

be prudent to

cover

normal risks

in

our

operations,

we may

not

be

able to

achieve

or maintain

this

level of

coverage

throughout

a

vessel's

useful life.

Furthermore, while

we

believe

that

our

present

insurance

coverage is

adequate, not all risks can be insured, and there can be no guarantee that any specific

claim will be paid,

or that we will always be able to obtain adequate insurance coverage

at reasonable rates.

68

Hull & Machinery and War Risks Insurance

We maintain marine hull and

machinery and war risks insurance, which cover,

among other marine risks,

the risk

of actual

or constructive

total loss,

for all

of our

vessels. Our

vessels are

each covered

up to

at

least

fair

market

value

with

deductibles

ranging

to

a

maximum

of

$100,000

per

vessel

per

incident

for

Panamax, Kamsarmax and

Post-Panamax vessels

and $150,000 per

vessel per incident

for Capesize and

Newcastlemax vessels.

Protection and Indemnity Insurance

Protection and indemnity

insurance is provided

by mutual protection

and indemnity associations,

or “ P& I

Associations,” and covers our third-party liabilities in connection with our shipping activities. This includes

third-party liability

and other

related expenses of

injury or

death of

crew, passengers and

other third

parties,

loss

or

damage

to

cargo,

claims

arising

from

collisions

with

other

vessels,

damage

to

other

third-party

property,

pollution

arising

from

oil

or

other

substances,

and

salvage,

towing

and

other

related

costs,