Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 158

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 5
Chunk 158
---
ating to

inspections for

acquiring new

vessels that

meet our

standards. Such expenditures are insignificant and they are expensed

as they incur.

D.

Trend information

Demand for dry

bulk vessel services is

influenced by global financial conditions.

Global financial markets

and economic

conditions have

been, and

continue

to be,

volatile. Our

results of

operations depend

primarily

81

on charter

hire rates available

to fix

our vessels and

the demand for

dry bulk vessel

services. The Baltic

Dry Index, or the BDI, has long been viewed as the main benchmark to monitor the movements of the dry

bulk vessel

charter market

and the

performance of the

entire dry

bulk shipping market.

In 2024,

the BDI

ranged from a low

of 976 to a

high of 2,419 and

closed at 1,635 on

March 20, 2025. Although

there can be

no assurance that the dry

bulk charter market will not

decline further, as

of the date of

this annual report,

we have

fixed about

70% of

our fleet

ownership days

in 2025

in time

charter agreements

having an

average

time charter rate on or

around our break-even rate. Nevertheless, our revenues and

results of operations

in 2025

will be

subject to

demand for

our services,

the level

of inflation,

market disruptions

and interest

rates.

Demand

for

our

dry

bulk

oceangoing vessels

is

dependent upon

economic

growth in

the

world’s

economies, seasonal and regional changes in demand and changes to the capacity of the global dry bulk

fleet

and

the

sources

and

supply

for

dry

bulk

cargo

transported

by

sea.

Continued

adverse

economic,

political

or

social

conditions

or

other

developments

could

further

negatively

impact

charter

rates

and

therefore have a material adverse effect on our business and results of operations.

E.

Critical Accounting Estimates

The

discussion

and

analysis

of

our

financial

condition

and

results

of

operations

are

based

upon

our

consolidated

financial

statements,

which

have