Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 79

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 4
Chunk 79
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with an

unaffiliated third

party, for the

construction of

two 81,200

dwt methanol

dual fuel

new-building

Kamsarmax dry

bulk vessels

to be

built at

Tsuneishi Group (Zhoushan)

Shipbuilding Inc., China. The vessels

are expected to be delivered to

the Company by the second

half of

2027 and the first half of 2028.

Vessel acquisitions

In

August

2022,

we

entered

into

a

master

agreement

with

an

unaffiliated

third

party,

to

acquire

nine

Ultramax vessels for

an aggregate purchase

price of $330

million, of which

$220 million payable

in cash

and

$110

million

through

an

aggregate

of

18,487,393

newly

issued

common

shares,

issuable

on

the

delivery

of

each

vessel.

In

addition

to

the

master

agreement,

we

also

entered

into

nine

separate

memoranda of agreement for the acquisition of each vessel and issued nine warrants to the seller, for the

issuance of the shares, exercisable on the delivery date of each vessel. We took delivery of eight vessels

in December 2022 and the ninth vessel in January 2023.

In

March

2022,

we

took

delivery

of

Florida,

a

Japanese

new-building

Capesize

dry

bulk

vessel

of

approximately 181,500 dwt,

which we agreed

to acquire from an

unaffiliated third party in

December 2020.

In February

2022, we

took delivery

of Leonidas

P. C. (ex Magnolia), a

2011 built Kamsarmax

dry bulk

vessel

of 82,165 dwt, which we agreed to acquire from an unaffiliated third party in July

2021.

Vessel disposals

In February 2025, we agreed to sell to an unrelated third party, the vessel Alcmene, for $11.9

million. The

vessel was delivered to her new owners on March 13, 2025.

In February 2024, we agreed to sell to an unrelated third party,

the vessel Houston, for $23.3 million.