Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 150

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 5
Chunk 150
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$83.5 million

compared

to

net

cash

provided

by

operating

activities

of

$70.4 million in 2023. This increase was mainly

attributable to the proceeds from sale of

our investment in

equity securities

that

we acquired

in 2023,

and was

partly offset

by decreased

revenues, as

a result

of

decreased

average

time

charter

rates

compared

to 2023

and

increased

dry-docking

costs

incurred

in

2024.

Net Cash Used in Investing Activities

Net cash

used in

investing activities

was $39.8

million for

2024, which

consists of

$20.5 million

paid for

vessels under

construction and

improvements; $35.2 million

of proceeds

from the

sale of

two vessels

in

2024; $27.2 million

paid to acquire

investments in

Windward; increased investment

by $23.5 million

in time

deposits

with

maturity

above

three

months;

and

$3.7

million

relating

to

the

acquisition

of

property

and

equipment.

Net cash

provided by investing

activities was $24.9

million for

2023, which consists

of $29.7 million

paid

for vessel acquisitions

and improvements;

$36.6 million

of proceeds from

the sale of

three vessels in

2023;

$10.5

million

paid

to

acquire

investments

in

Windward

and

Cohen;

$1.0

million

cash

divested

from

deconsolidation of Bergen

Ultra; decreased

investment by $6.5

million in time

deposits with

maturity above

three

months;$25.2 million

proceeds

from

convertible

loan

with

limited

partnership;

$0.2

million

paid

to

acquire other assets; and $2.0 million relating to the acquisition

of equipment.

Net Cash Provided by Financing Activities

Net cash used in financing activities was $21.7

million for 2024, which consists of $117.2 million proceeds

from issuance of

long term

de