Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 152

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 5
Chunk 152
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6,

thus

reducing our

remaining commitment

as

of the

date of

this

report

to

€7.6

million,

expected

to

be

paid

in

the

following

months.

We

also

expect

to

incur

capital

expenditures for vessel efficiency upgrades amounting to $3.0 million,

scheduled to take place until 2027.

We also incur capital expenditures when our vessels undergo surveys. This

process of recertification may

require us to

reposition these vessels

from a discharging

port to

shipyard facilities, which

will reduce our

operating days during

the period. We may

also incur capital

expenditures for vessel

improvements to

meet

new regulations.

In the

next twelve

months, we

will require

capital to

fund ongoing

operations, debt

service,

the payment of our preferred dividends and the payment of our bareboat

charters.

We expect

to finance

part of

the construction

cost of

our methanol

vessels on

order with

new bank

debt

and our remaining

capital expenditures

from cash from

operations and cash

at banks. As

of the date

of this

annual report, we have contracted revenues covering around 70% of our ownership days in

2025, in time

charter agreements having

an average time

charter rate on

or around our

break-even rate as

of December

31, 2024,

and we

have fixed

around 10%

of our

ownerships days

in 2026.

Our revenues

for the

unfixed

days in 2025 and 2026 will be affected by the developments in the dry bulk market and we cannot assure

you that we will be able to successfully renew existing charters at rates sufficient to allow us to meet all of

our obligations.

However, as

of the date

of this annual

report, we believe

that contracted and

anticipated

revenues

will

result

in

internally

generated

cash

flows

and

together

with

available

cash

and

cash

equivalents

and

time

deposits

maturing

in

2025,

will

be

sufficient

to

fund

our

short

term

and

long-term

capital requirements.

Debt instruments and guarantees