Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 278

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 19
Chunk 278
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 may also consist of bunkers,

when on the balance sheet date, a vessel
is without

employment. Bunkers, if

any,

are also

stated at

the lower

of cost

or net

realizable value
and cost is determined by the first in, first out method.
h)
Vessel

Cost
: Vessels

are stated

at cost

which consists

of the

contract price

and any

capitalizable
expenditures

incurred

upon

acquisition

or

during

construction.

Expenditures

for

conversions

and
major improvements are

also capitalized when they

appreciably extend the

life, increase the earning
capacity or improve the efficiency or safety of the vessels; otherwise,

these amounts are charged to
expense as incurred. Interest incurred during

the assets' construction period,

that theoretically could
have

been

avoided

if

expenditure

for

the

assets

had

not

been

made,

is

also

capitalized.

The
capitalization rate,

applied on

accumulated expenditures

for the

vessel, is

based on

interest rates
applicable to outstanding borrowings of the period.
i)
Vessels held

for sale:
A long-lived asset classified

as held for

sale is measured at

the lower of its
carrying amount or fair value less cost to sell when the respective held for sale criteria are met. The
asset is

not depreciated

while it

is classified

as held

for sale.

The fair

value less

cost to

sell of

an
asset held for

sale is assessed

at each reporting period

it remains classified as

held for sale.

If the
plan to sell the

asset changes, the asset is

reclassified as held and used,

measured at the lower of
its carrying amount

before it was

classified as held

for sale,

adjusted for any

depreciation expense

DIANA SHIPPING INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2024

(Expressed in thousands of U. S. Dollars - except share, per share

data, unless otherwise stated)

F-15

that would have been

recognized had the asset

been continuously classified as

held and used
and
its fair value at the date of the subsequent decision not to sell.
j)
Sale

and

leaseback