Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 193

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 7
Chunk 193
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 a vote

of the stockholders

of the Company. The

Series C

Preferred Stock

has no dividend

or liquidation

rights and

cannot be transferred without the consent of the

Company except to the holder’s affiliates and immediate

family members.

The issuance

of shares

of Series

C Preferred

Stock was

approved by

an independent

committee of the

Board of Directors,

which received

a fairness opinion

from an independent

third party that

the transaction was fair from a financial point of view to the Issuer.

Steamship Shipbroking Enterprises Inc.

Steamship,

an

affiliated

entity

controlled

by

our

CEO

Ms.

Semiramis

Paliou,

provides

to

us

brokerage

services for

an annual

fee pursuant

to a

Brokerage Services

Agreement.

In 2024,

brokerage fees

amounted

to $4.1 million

and we paid

an additional

amount of

$0.5 million

for commissions

on the

sale and

purchases

of vessels. The

terms of

this relationship

are currently

governed by

a Brokerage

Services Agreement

dated

February 25, 2025 due to expire on December 31, 2025.

Altair Travel Agency S. A.

Altair Travel Agency S. A., or Altair,

an affiliated entity that is controlled by our CEO Ms. Semiramis Paliou

provides us with travel related services. Travel related expenses in 2024, amounted

to $2.6 million.

Diana Wilhelmsen Management Limited

Diana Wilhelmsen

Management Limited,

or DWM,

is a

50/50 joint

venture which

provides management

services

to

certain

vessels

in

our

fleet

for

a

fixed

monthly

fee

and

commercial

services

charged

as

a

percentage

of

the

vessels’

gross

revenues.

Management

fees

in

2024

amounted

to

$1.3

million,

commissions on revenues amounted to $0.4 million.

Bond acquisition

Officers and directors of

the Company and/or

entities affiliated with them

purchased an aggregate

of $47.3

million principal amount of

the $150.0 million

senior unsecured bond

issued on July

2