Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 131

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 4
Chunk 131
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including

wreck

removal.

Protection

and

indemnity

insurance

is

a

form

of

mutual

indemnity

insurance,

extended by protection and indemnity mutual associations, or “clubs.”

Our current protection and indemnity insurance coverage for pollution is $1 billion per vessel per incident.

The 13

P& I Associations

that comprise

the International

Group insure

approximately 90%

of the world’s

commercial

tonnage

and

have

entered

into

a

pooling

agreement

to

reinsure

each association’s

liabilities. The

International

Group’s

website

states

that

the

Pool

provides

a

mechanism

for

sharing

all

claims in

excess of

US$10 million up

to, currently,

approximately US$8.2

billion.

As a

member of

a P& I

Association,

which

is

a

member

of

the

International

Group,

we

are

subject

to

calls

payable

to

the

associations based on our

claim records as

well as the claim

records of all

other members of the

individual

associations

and

members

of

the shipping

pool

of

P& I

Associations

comprising

the

International

Group.

Our

vessels

may

be

subject

to

supplemental

calls

which

are

based

on

estimates

of

premium

income and anticipated and paid claims. Such estimates

are adjusted each year by the Board of

Directors

of the

P& I Association

until the

closing of

the relevant

policy year, which

generally occurs

within three

years

from the

end of the

policy year.

Supplemental calls, if

any,

are expensed when

they are

announced and

according to the period they relate to.

C.

Organizational structure

Diana Shipping Inc. is the sole owner of all of the issued and outstanding shares of the subsidiaries listed

in Exhibit 8.1 to this annual report.

D.

Property, plants and equipment

Since October 8, 2010, DSS owns

the land and the building where

we have our principal corporate offices

in Athens, Greece. In addition, DSS owns three

additional plots, one partly