Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 63

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 3
Chunk 63
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the section of

this annual report

entitled "Corporate

Governance" under Item 16G.

As a

Marshall Islands

corporation and

with some

of our

subsidiaries being

Marshall Islands

entities

and

also

having

subsidiaries

in

other

offshore

jurisdictions,

our

operations

may

be

subject

to

economic substance requirements, which could impact our business.

We

are

a

Marshall

Islands

corporation

and

some

of

our

subsidiaries

are

Marshall

Islands

entities.

The

Marshall Islands has

enacted economic substance laws

and regulations with which

we may be

obligated

to

comply.

We

believe

that

we

and

our

subsidiaries

are

compliant

with

the

Marshall

Islands

economic

substance requirements. However, if there were a change in the requirements or interpretation thereof, or

if there were

an unexpected

change to

our operations,

any such

change could

result in

noncompliance with

the economic substance legislation and

related fines or other

penalties, increased monitoring and audits,

and dissolution of the non-compliant entity,

which could have an adverse effect on our business, financial

condition or operating results.

EU Finance ministers rate jurisdictions for tax rates and tax transparency,

governance and real economic

activity.

Countries that are

viewed by such

finance ministers as

not adequately cooperating,

including by

not implementing sufficient

standards in

respect of the

foregoing, may be

put on a

“grey list” or

a “blacklist”.

Effective as

of October 17,

2023 the Marshall

Islands has

been designated as

a cooperating

jurisdiction

38

for tax

purposes. If

the Marshall

Islands is

added to

the list

of non-cooperative

jurisdictions in

the future

and sanctions or other financial, tax or regulatory measures were applied by

European Member States to

countries on

the list

or further

economic substance requirements

were imposed

by the

Marshall Islands,

our business could be harmed.

Certain existing

shareholders will

be able

to exert

considerable influence

over matters

on which

our shareholders are entitled to vote.

As

of

the

date