Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 129

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 4
Chunk 129
---

surveyed

periodically

over

a

five-year

period.

Every

vessel

should

have

a

minimum

of

two

examinations of

the outside

of a

vessel's bottom

and related

items during

each five-year

special survey

period. One such examination is to

be carried out in conjunction with the

Special Periodical Survey.

In all

cases, the

interval between

any two

such examinations

is not

to exceed

36 months.

In all

cases, the

interval

between any two such examinations is not to exceed 36 months. If any vessel does not maintain its class

and/or fails any

annual survey, intermediate survey, drydocking

or special survey, the

vessel will be

unable

to

carry cargo

between ports

and

will be

unemployable and

uninsurable which

could

cause

us to

be

in

violation of certain covenants in our loan agreements.

Any such inability to carry cargo or be employed,

or

any such

violation of

covenants, could

have a

material adverse

impact on

our financial

condition and

results

of operations.

Risk of Loss and Liability Insurance

General

The operation

of any cargo

vessel includes

risks such

as mechanical

failure, physical damage,

collision,

property

loss,

cargo

loss

or

damage

and

business

interruption

due

to

political

circumstances

in

foreign

countries, piracy incidents, hostilities and

labor strikes. In

addition, there is

always an inherent

possibility

of

marine

disaster,

including

oil

spills

and

other

environmental

mishaps,

and

the

liabilities

arising

from

owning

and

operating

vessels

in

international

trade.

OPA,

which

imposes

virtually

unlimited

liability

upon shipowners,

operators

and bareboat

charterers

of any

vessel

trading

in

the

exclusive

economic

zone of the

United States

for certain

oil pollution

accidents in

the United

States, has

made liability

insurance

more

expensive

for shipowners

and

operators

trading

in

the United

States

market.