Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 49

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 3
Chunk 49
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, or

fail to take,

certain action, such

as failing to

maintain certification of our vessels with applicable maritime regulatory organizations. Furthermore, in the

future, we

may not

be able

to obtain

adequate insurance coverage

at reasonable

rates for

our fleet.

We

may also be

subject to calls,

or premiums, in

amounts based not

only on our

own claim records

but also

the

claim

records

of

all

other

members

of

the

protection

and

indemnity

associations

through

which

we

receive

indemnity

insurance

coverage

for

tort

liability.

Our

insurance

policies

also

contain

deductibles,

limitations

and

exclusions

which,

although

we

believe

are

standard

in

the

shipping

industry,

may

nevertheless increase

our costs. In

addition, we

do not presently

carry loss-of-hire

insurance, which

covers

31

the

loss

of

revenue

during

extended

vessel

off-hire

periods,

such

as

those

that

might

occur

during

an

unscheduled drydocking due to damage to the vessel from a major accident. Accordingly, any vessel that

is off hire

for an extended period

of time, due to

an accident or

otherwise, could have a material

adverse

effect on our business, results of operations and financial condition.

We are exposed to U. S. dollar and foreign currency fluctuations and devaluations that could harm

results of operations.

We generate

all of

our revenues

in U. S.

dollars but incur

around half of

our operating

expenses and our

general and administrative expenses in currencies other than the U. S. dollar, primarily the Euro. Because

a significant portion of

our expenses is incurred

in currencies other

than the U. S. dollar, our expenses

may

from time to

time increase relative

to our revenues

as a result

of fluctuations in

exchange rates, particularly

between the U. S. dollar and the Euro,

which could affect the amount of net

income that we report in future

periods. While

we historically

have not

mitigated the

risk associated

with exchange

rate fluctuations

through

the use of financial