Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 41

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 3
Chunk 41
---

that

long-term charters provide

us with relatively

stable cash flows

and higher

utilization rates than

shorter-term

charters, our

vessels that

are committed

to long-term

charters may

not be

available for

employment on

short-term charters during periods of increasing short-term charter hire rates when these charters may be

more profitable than long-term charters.

At the expiration of our charters or if

a charter terminates early for any

reason or when we acquire vessels

charter-free, we

will need

to charter

or recharter

our vessels.

If an

excess of

vessels is

available on

the

spot or short-term

market at the

time we are

seeking to

fix new longer-term

charters, we

may have difficulty

entering into

such charters

at all

or at

profitable rates

and for

any term

other than

short term

and, as

a

result,

our

cash

flow may

be

subject to

instability in

the

mid

to

long-term. In

addition, it

would be

more

difficult to

fix relatively older

vessels should there

be an

oversupply of younger

vessels on the

market. A

depressed spot

market may require

us to

enter into short-term

spot charters

based on prevailing

market

rates, which could result in a decrease in our cash flow.

We cannot assure

you that we will

be able to borrow

amounts under loan facilities

and restrictive

covenants in our loan facilities impose financial and other restrictions

on us.

Historically, we have entered into several loan agreements

to finance vessel acquisitions,

the construction

of

newbuildings and

working

capital.

Our

ability to

borrow

amounts under

our

facilities is

subject to

the

execution of customary documentation relating to the facility, including security documents, satisfaction of

certain

customary

conditions precedent

and

compliance with

terms

and

conditions

included

in

the

loan

documents.

Prior

to

each

drawdown,

we

are

required,

among

other

things,

to

provide

the

lender

with

acceptable valuations

of the

vessels in

our fleet

confirming