Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 107

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 4
Chunk 107
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cyber risks in

a vessel’s safety

management system.

This might

cause companies

to

create

additional

procedures

for

monitoring

cybersecurity,

which

could

require

additional

expenses

and/or capital expenditures.

The impact of future regulations is hard to predict at this time.

In June

2022, SOLAS

also set

out new

amendments that

took effect

on January

1, 2024,

which include

new

requirements for:

(1)

the

design for

safe

mooring operations,

(2)

the

Global

Maritime

Distress and

Safety System (“ GMDSS”),

(3) watertight integrity, (4) watertight doors

on cargo ships,

(5) fault-isolation of

fire detection

systems, (6)

life-saving appliances, and

(7) safety

of ships

using LNG

as fuel.

These new

requirements may impact the cost of our operations.

Pollution Control and Liability Requirements

The IMO has negotiated international conventions

that impose liability for pollution in

international waters

and

the

territorial

waters

of

the

signatories

to

such

conventions.

For

example,

the

IMO

adopted

an

International

Convention

for

the

Control

and

Management

of

Ships’

Ballast

Water

and

Sediments, (the

“ BWM Convention”), in 2004. The BWM Convention entered into force on September 8, 2017.

The BWM

Convention requires ships to manage their

ballast water to remove, render harmless,

or avoid the uptake

or discharge of

new or invasive

aquatic organisms

and pathogens within

ballast water and

sediments.

The

BWM

Convention’s

implementing

regulations

call

for

a

phased

introduction

of

mandatory

ballast

water

exchange requirements, to

be replaced in

time with mandatory

concentration limits, and

require all ships

to carry a ballast water record book and an international ballast water

management certificate.

On December 4, 2013, the

IMO Assembly passed a resolution

revising the application dates of the

BWM

Convention so that

the dates are

triggered by the

entry into force

date and not

the dates originally

in the

B