Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 89

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 4
Chunk 89
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tered vessel's

operating expenses,

including the

cost of

crewing, insuring,

repairing and

maintaining the

vessel. In

2024, we

paid commissions that

ranged from

4.75% to

5.0% of

the total

daily

charter hire

rate of

each charter

to unaffiliated

ship brokers

and to

in-house brokers

associated with

the

charterer, depending on the number of brokers involved with arranging the charter.

We strategically monitor developments in the dry bulk shipping industry on a regular basis and, subject to

market

demand,

seek

to

adjust

the

charter

hire

periods

for

our

vessels

according

to

prevailing

market

conditions. In order to take advantage of relatively stable cash flow and high utilization rates,

we fix some

of our vessels on long-term time

charters. Currently, the

majority of our vessels are employed on

short to

medium-term time

charters, which

provides us

with flexibility in

responding to

market developments.

We

continuously evaluate our balance of

short-

and long-term charters and extend

or reduce the charter hire

periods of the vessels in our fleet according to the developments in

the dry bulk shipping industry.

Charter Hire Rates

Charter hire

rates fluctuate

by varying

degrees among

dry bulk

carrier size

categories. The

volume and

pattern of

trade in

a small

number of

commodities

(major bulks)

affect demand

for larger

vessels. Therefore,

charter rates

and vessel

values of

larger vessels

often show

greater volatility. Conversely, trade

in a

greater

number

of

commodities (minor

bulks)

drives

demand

for

smaller

dry

bulk

carriers.

Accordingly,

charter

rates and vessel values for those vessels are usually subject

to less volatility.

Charter

hire

rates

paid

for

dry

bulk

carriers

are

primarily

a

function

of

the

underlying

balance

between

vessel supply and demand, although at

times other factors may play a

role. Furthermore, the pattern seen

in

charter

rates

is

broadly

mirrored

across

the

different