Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 22

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 3
Chunk 22
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 disrupt the operations

of our vessels, or

to public health measures,

which may prevent our

vessels from calling on

ports or discharging cargo

in the

affected areas or in other locations after having visited the affected areas.

If our vessels suffer

damage, they may need

to be repaired at

a drydocking facility.

The costs of drydock

repairs are unpredictable

and may be

substantial. We

may have to

pay drydocking

costs that

our insurance

does not

cover at

all or

in full.

The loss

of revenues

while these

vessels are

being repaired

and repositioned,

as well as the actual cost

of these repairs not covered by

our insurance, would decrease our

earnings and

available

cash

and

may

adversely

affect

our

business

and

financial

condition.

In

addition,

space

at

drydocking facilities is

sometimes limited

and not

all drydocking facilities

are conveniently located.

We may

19

be

unable

to

find

space

at

a

suitable

drydocking

facility

or

our

vessels

may

be

forced

to

travel

to

a

drydocking facility

that is

not conveniently

located relative to

our vessels' positions.

The loss

of earnings

while

these

vessels

are

forced

to

wait

for

space

or

to

travel

to

more

distant

drydocking

facilities

may

adversely affect our business and financial condition.

The operation

of dry

bulk vessels has

certain unique operational

risks. With

a dry

bulk vessel, the

cargo

itself and its interaction

with the ship can

be a risk

factor. By their nature, dry

bulk cargoes are

often heavy,

dense

and

easily

shifted,

and

react

badly

to

water

exposure.

In

addition,

dry

bulk

vessels

are

often

subjected to

battering treatment

during unloading

operations with

grabs, jackhammers

(to pry

encrusted

cargoes out of the

hold), and small bulldozers. This

treatment may cause damage to

the dry bulk vessel.

Dry bulk