Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 32

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 3
Chunk 32
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 the limited supply of

and increased demand for

crew

has

created

upward

pressure

on

crew

costs.

Additionally,

the

return

of

a

number

of

Ukrainian

seafarers to

their homes as

a result

of the

ongoing war in

Ukraine has

reduced the number

of seafarers

globally

and

thereby

increased

the

pressure

on

crew

wages.

Continued

higher

crew

costs

or

further

increases in crew costs could adversely affect our results of operations.

Our investment in Diana Wilhelmsen Management Limited may expose

us to additional risks.

During

2015

we

invested

in

a

50/50

joint

venture

with

Wilhelmsen

Ship

Management

which

provides

management

services

to

a

limited

number

of

vessels

in

our

fleet

and

to

affiliated

companies,

but

our

eventual goal

is to

provide fleet

management services

to unaffiliated

third-party vessel

operators. While

this joint

venture may

provide us

in the

future with

a potential

revenue source,

it may

also expose

us to

risks such

as low

customer satisfaction, increased

operating costs compared

to those we

would achieve

for our

vessels, and

inability to

adequately staff

our vessels

with crew

that meets

our expectations

or to

maintain our vessels according to our standards, which would adversely

affect our financial condition.

A cyber-attack could materially disrupt our business.

We

rely

on

information

technology

systems

and

networks

in

our

operations

and

administration

of

our

business, including navigation,

provision of services, propulsion,

machinery management, power control,

communications and cargo management. We have in

place safety and security measures on our

vessels

and onshore

operations to

protect our

vessels against

cyber-security attacks

and any

disruption to

their

information systems.

Information systems are

vulnerable to security

breaches by computer

hackers and

cyber

terrorists.

We

rely

on

industry

accepted

security

measures