Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 99

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 4
Chunk 99
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(such as

polychlorinated biphenyls,

55

or

“ PCBs”)

are

also

prohibited.

We

believe

that

all

our

vessels

are

currently

compliant

in

all

material

respects with these regulations.

The Marine Environment Protection Committee, or

“ MEPC”, adopted amendments to Annex VI

regarding

emissions of

sulfur oxide,

nitrogen oxide,

particulate matter

and ozone

depleting substances,

which entered

into force on

July 1, 2010.

The amended Annex VI

seeks to further

reduce air pollution by,

among other

things, implementing

a progressive

reduction of

the amount

of sulfur

contained in

any fuel

oil used

on board

ships. On October 27, 2016, at its 70th session, the MEPC agreed to implement a global

0.5% m/m sulfur

oxide emissions limit

(reduced from 3.50%)

starting from January

1, 2020.

This limitation can

be met by

using

low-sulfur compliant fuel

oil, alternative

fuels,

or

certain exhaust

gas cleaning

systems. Ships

are

now required

to obtain

bunker delivery

notes and

International Air

Pollution Prevention (“ IAPP”)

Certificates

from their

flag states

that specify

sulfur content.

Additionally,

at MEPC

73, amendments

to Annex

VI to

prohibit the carriage of bunkers

above 0.5% sulfur on ships were

adopted and took effect March

1, 2020,

with the exception of

vessels fitted with exhaust

gas cleaning equipment

(“scrubbers”) which can

carry fuel

of

higher sulfur

content.

These regulations

subject ocean-going

vessels to

stringent emissions

controls

and may cause us to incur substantial costs.

Sulfur

content

standards

are

even

stricter

within

certain

“ Emission

Control

Areas,”

or (“ ECAs”).

As

of

January 1, 2015,

ships operating

within an

ECA were

not permitted

to use fuel

with sulfur content

in excess

of 0.1%

m/m. Amended Annex

VI establishes procedures

for designating new