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  Title	Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
  ID	7267130
  External ID	7580081454
  Author	Unknown
  Published Date	Feb. 25, 2025, 3:28 p.m.
  Summary	FORM 6-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of Febr
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  Content ID	4572376
  Key	67554d46-5d05-4490-8b55-dca93ec584a6
  Content	FORM 6-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of February 2025 Commission File Number: 001-32458 DIANA SHIPPING INC. (Translation of registrant's name into English) Pendelis 16, 175 64 Palaio Faliro, Athens, Greece (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F [X] Form 40-F [ ] INFORMATION CONTAINED IN THIS FORM 6-K REPORT Attached to this Report on Form 6-K as Exhibit 99.1 is a press release dated February 25, 2025, of Diana Shipping Inc. (the "Company"), announcing the Company's financial results for the fourth quarter and year ended December 31, 2024. The information contained in this Report on Form 6-K is hereby incorporated by reference into the Company's registration statements on Form F-3 (File Nos. 333-266999 and 333-280693) that were filed with the U.S. Securities and Exchange Commission and became effective on September 16, 2022, and September 9, 2024, respectively. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. DIANA SHIPPING INC. (registrant) Dated: February 25, 2025 By: /s/ Ioannis Zafirakis Ioannis Zafirakis Chief Financial Officer Exhibit 99.1 Corporate Contact: Ioannis Zafirakis Director, Co-Chief Financial Officer, Chief Strategy Officer, Treasurer and Secretary Telephone: + 30-210-9470100 Email: izafirakis@dianashippinginc.com Website: www.dianashippinginc.com X: @Dianaship For Immediate Release Investor and Media Relations: Edward Nebb Comm-Counsellors, LLC Telephone: + 1-203-972-8350 Email: enebb@optonline.net DIANA SHIPPING INC. REPORTS FINANCIAL RESULTS FOR THE FOURTH QUARTER AND YEAR ENDED DECEMBER 31, 2024; DECLARES CASH DIVIDEND OF $0.01 PER COMMON SHARE FOR THE FOURTH QUARTER 2024 ATHENS, GREECE, February 25, 2025 – Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today reported net income of $9.7 million and a net income attributed to common stockholders of $8.3 million for the fourth quarter of 2024. This compares to net income of $9.4 million and net income attributed to common stockholders of $7.9 million for the fourth quarter of 2023. Earnings per share for the fourth quarter of 2024 were $0.07 basic and $0.02 diluted, compared to earnings per share of $0.08 basic and $0.06 diluted in the same quarter of 2023. Time charter revenues were $57.1 million for the fourth quarter of 2024, compared to $60.0 million for the same quarter of 2023. The decrease in time charter revenues, compared to the same quarter last year, was due to decreased ownership days. Net income for 2024 amounted to $12.7 million and net income attributed to common stockholders amounted to $7.0 million. This compares to net income of $49.8 million and net income attributed to common stockholders of $44.1 million for 2023. Time charter revenues for 2024 were $228.2 million, compared to $262.1 million for 2023. Earnings per share for 2024 were $0.06 basic and $0.05 diluted, compared to earnings per share of $0.44 basic and $0.42 diluted for 2023. Dividend Declaration The Company has declared a cash dividend on its common stock of $0.01 per share, based on the Company's results of operations during the fourth quarter ended December 31, 2024. The cash dividend will be payable on March 21, 2025 to all common shareholders of record as of March 12, 2025. As of February 24, 2025, the Company has 113,763,924 common shares issued and outstanding and there were 6,394,709 warrants exercised. Fleet Employment (As of February 24, 2025) VESSEL SISTER SHIPS* GROSS RATE (USD PER DAY) COM** CHARTERERS DELIVERY DATE TO CHARTERERS*** REDELIVERY DATE TO OWNERS**** NOTES BUILT DWT 9 Ultramax Bulk Carriers DSI Phoenix A Bulk Trading SA 6-May-24 1/Aug/2025 - 30/Sep/2025 DSI Pollux A Cargill Ocean Transportation (Singapore) Pte. Ltd. 28-Dec-23 20/Aug/2025 - 20/Oct/2025 DSI Pyxis A ASL Bulk Marine Limited 24-Sep-23 8-Nov-24 Stone Shipping Ltd 8-Nov-24 20/Feb/2026 - 20/Apr/2026 DSI Polaris A Stone Shipping Ltd 20-Jul-24 1/Jun/2025 - 15/Aug/2025 DSI Pegasus A Cargill Ocean Transportation (Singapore) Pte. Ltd 5-Sep-24 1/Jun/2025 - 1/Aug/2025 DSI Aquarius B Stone Shipping Ltd 18-Jan-24 6-Dec-24 Bunge SA, Geneva 6-Dec-24 6/Oct/2025 - 21/Dec/2025 DSI Aquila B Western Bulk Carriers AS 11-Nov-23 23-Jan-25 23-Jan-25 23/Jun/2025 - 8/Aug/2025 DSI Altair B Propel Shipping Pte. Ltd. 28-Sep-24 1/Nov/2025 - 31/Dec/2025 DSI Andromeda B Bunge SA, Geneva 27-Nov-23 28/Feb/2025 - 20/Apr/2025 6 Panamax Bulk Carriers LETO ASL Bulk Shipping Limited 3-May-24 6-Mar-25 SELINA C Cargill International S.A., Geneva 20-May-23 17-Oct-24 Raffles Shipping International Pte. Ltd. 17-Oct-24 1/Mar/2025 - 20/Apr/2025 MAERA C ST Shipping and Transport Pte. Ltd. 29-Jan-24 15-Dec-24 China Resource Chartering Limited 15-Dec-24 20/Sep/2025-20/Nov/2025 ISMENE Paralos Shipping Pte., Ltd. 13-Sep-23 15/Apr/2025 - 30/Jun/2025 CRYSTALIA D Louis Dreyfus Company Freight Asia Pte. Ltd. 4-May-24 4/Feb/2026 - 4/Jun/2026 ATALANDI D Cargill International SA, Geveva 20-Jul-24 1/Jun/2025 - 31/Jul/2025 6 Kamsarmax Bulk Carriers MAIA E Viterra Chartering B.V. 16-Sep-24 9-Dec-24 Paralos Shipping Pte. Ltd. 9-Dec-24 1/Nov/2025 - 31/Dec/2025 MYRSINI E Cobelfret S.A. Luxembourg 25-Jun-24 11-Feb-25 Cargill International SA, Geneva 26-Feb-25 1/Jan/2026 - 28/Feb/2026 MEDUSA E ASL Bulk Shipping Limited 14-May-23 21-Feb-25 MYRTO E Cobelfret S.A., Luxemburg 15-Jul-23 23-Dec-24 Nippon Yusen Kabushiki Kaisha, Tokyo 23-Dec-24 1/Mar/2026 - 15/May/2026 ASTARTE Paralos Shipping Pte. Ltd. 19-Aug-24 15/Jul/2025 - 15/Sep/2025 LEONIDAS P. C. Ming Wah International Shipping Company Limited 22-Feb-24 20/Aug/2025 - 20/Oct/2025 9 Ultramax Bulk Carriers 5 Post-Panamax Bulk Carriers ALCMENE China Steel Express Corporation 30-Sep-24 19-Nov-24 Lestari Shipping Pte Ltd 28-Dec-24 16-Jan-25 Pan Ocean Co., Ltd. 16-Jan-25 6-Mar-25 AMPHITRITE F Cobelfret S.A., Luxembourg 13-Jan-24 8-Jan-25 8-Jan-25 1/Jan/2026 - 15/Mar/2026 POLYMNIA F Reachy Shipping (SGP) Pte. Ltd. 8-Jun-24 1/Aug/2025 - 30/Sept/2025 ELECTRA G Aquavita International S.A. 3-Jun-24 15/Oct/2025 - 31/Dec/2025 PHAIDRA G Aquavita International S.A. 9-May-23 12-Oct-24 12-Oct-24 1/May/2025 - 15/Jul/2025 8 Capesize Bulk Carriers SEMIRIO H Solebay Shipping Cape Company Limited, Hong Kong 18-Aug-23 11-Feb-25 11-Feb-25 15/Feb/2026 - 15/Apr/2026 NEW YORK H SwissMarine Pte. Ltd., Singapore 11-Jun-23 30-Nov-24 STX Green Logis Ltd 30-Nov-24 11-Jan-25 SwissMarine Pte. Ltd., Singapore 11-Jan-25 15/Jan/2026 - 30/Mar/2026 SEATTLE I Solebay Shipping Cape Company Limited, Hong Kong 1-Oct-23 15/Jul/2025 - 30/Sep/2025 P. S. PALIOS I Bohai Shipping (HEBEI) Co., Ltd 7-May-24 1/Nov/2025 - 31/Dec/2025 G. P. ZAFIRAKIS J Nippon Yusen Kabushiki Kaisha, Tokyo 16-Sep-24 16/Aug/2026 - 16/Nov/2026 SANTA BARBARA J Smart Gain Shipping Co., Limited 7-May-23 3-Dec-24 Mitsui O.S.K. Lines, Ltd. 27-Dec-24 20/Oct/2025 - 20/Dec/2025 NEW ORLEANS Kawasaki Kisen Kaisha, Ltd. 7-Dec-23 15/Aug/2025 - 31/Oct/2025 FLORIDA Bunge S.A., Geneva 29-Mar-22 29/Jan/2027 - 29/May/2027 4 Newcastlemax Bulk Carriers LOS ANGELES K Nippon Yusen Kabushiki Kaisha, Tokyo 20-Jul-24 1/Oct/2025 - 15/Dec/2025 PHILADELPHIA K Nippon Yusen Kabushiki Kaisha, Tokyo 4-Feb-24 20/Apr/2025 - 20/Jul/2025 SAN FRANCISCO L SwissMarine Pte. Ltd., Singapore 18-Feb-23 28-Feb-25 28-Feb-25 25/Oct/2026 - 25/Dec/2026 NEWPORT NEWS L Nippon Yusen Kabushiki Kaisha, Tokyo 20-Sep-23 10/Mar/2025 - 10/Jun/2025 Each dry bulk carrier is a “sister ship”, or closely similar, to other dry bulk carriers that have the same letter. Total commission percentage paid to third parties. In case of newly acquired vessel with time charter attached, this date refers to the expected/actual date of delivery of the vessel to the Company. Range of redelivery dates, with the actual date of redelivery being at the Charterers' option, but subject to the terms, conditions, and exceptions of the particular charterparty. Charterers will compensate the Owners at a rate of 115% of the average Baltic Tess 58 Supramax Index as published by the Baltic Exchange on a daily basis or double the vessel's present charter party rate, whichever is higher, for the excess period commencing from January 10, 2025 until the actual redelivery date. Bareboat chartered-in for a period of ten years. Based on latest information. Currently without an active charterparty. Vessel on scheduled drydocking. Estimated delivery date to the Charterers. Vessel on scheduled drydocking from November 19, 2024 until December 17, 2024. Redelivery date based on an estimated time charter trip duration of about 40 days. Vessel has been sold and it is expected to be delivered to her new Owners by latest March 7, 2025. The charter rate was US$12,250 per day for the first thirty (30) days of the charter period. The charter rate will be US$8,750 per day for the first fifty (50) days of the charter period. The charter rate will be US$6,300 per day for the first trip of the charter period. Vessel currently off hire for drydocking. Vessel on scheduled drydocking from December 3, 2024 until December 27, 2024. Bareboat chartered-in for a period of eight years. Estimated redelivery date from the Charterers. Summary of Selected Financial & Other Data (unaudited) Three months ended December 31, Year ended December 31, STATEMENT OF INCOME DATA (in thousands of US Dollars) Time charter revenues Voyage expenses Vessel operating expenses Net income Net income attributable to common stockholders FLEET DATA Average number of vessels Number of vessels Weighted average age of vessels Ownership days Available days Operating days Fleet utilization AVERAGE DAILY RESULTS Time charter equivalent (TCE) rate (1) Daily vessel operating expenses (2) Non-GAAP Measures Time charter equivalent rate, or TCE, is defined as our time charter revenues less voyage expenses during a period divided by the number of our available days during the period, which is consistent with industry standards. TCE is a non-GAAP measure, and management believes it is useful to investors because it is a standard shipping industry performance measure used primarily to compare daily earnings generated by vessels on time charters with daily earnings generated by vessels on voyage charters, because charter hire rates for vessels on voyage charters are generally not expressed in per day amounts while charter hire rates for vessels on time charters are generally expressed in such amounts. TCE is used by management to assess and compare the vessels' profitability. Daily vessel operating expenses, which include crew wages and related costs, the cost of insurance, expenses relating to repairs and maintenance, the costs of spares and consumable stores, tonnage taxes and other miscellaneous expenses, are calculated by dividing vessel operating expenses by ownership days for the relevant period. Conference Call and Webcast Information The Company's management will conduct a conference call and simultaneous Internet webcast to review these results at 9:00 A.M. (Eastern Time) on Tuesday, February 25, 2025. Investors may access the webcast by visiting the Company's website at www.dianashippinginc.com, and clicking on the webcast link. An accompanying investor presentation also will be available via the webcast link and on the Company's website. The conference call also may be accessed by telephone by dialing 1-877-407-8291 (for U.S.-based callers) or 1-201-689-8345 (for international callers) and asking the operator for the Diana Shipping Inc. conference call. A replay of the webcast will be available soon after the completion of the call and will be accessible for 30 days on www.dianashippinginc.com. A telephone replay also will be available for 30 days by dialing 1-877-660-6853 (for U.S.-based callers) or 1-201-612-7415 (for international callers) and providing the Replay ID number 13751556. About the Company Diana Shipping Inc. is a global provider of shipping transportation services through its ownership and bareboat charter-in of dry bulk vessels. The Company's vessels are employed primarily on short to medium-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes. Cautionary Statement Regarding Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Company management's examination of historical operating trends, data contained in the Company's records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company's control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. In addition to these important factors, other important factors that, in the Company's view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in the Company's operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company's vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, including risks associated with the continuing conflict between Russia and Ukraine and related sanctions, potential disruption of shipping routes due to accidents or political events, including the escalation of the conflict in the Middle East, vessel breakdowns and instances of off-hires and other factors. Please see the Company's filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. (See financial tables attached) DIANA SHIPPING INC. FINANCIAL TABLES Expressed in thousands of U.S. Dollars, except share and per share data CONSOLIDATED STATEMENTS OF INCOME Three months ended December 31, Year ended December 31, REVENUES: Time charter revenues OPERATING EXPENSES Voyage expenses Vessel operating expenses Depreciation and amortization of deferred charges General and administrative expenses Management fees to a related party Gain on sale of vessels Other operating income Operating income, total OTHER INCOME/(EXPENSE) Interest expense and finance costs Interest and other income Gain/(loss) on derivative instruments Loss on extinguishment of debt Gain on deconsolidation of subsidiary Gain/(loss) on related party investments Gain/(loss) on equity securities Gain on warrants Gain/(loss) from equity method investments Total other expenses, net Net income Dividends on series B preferred shares Net income attributable to common stockholders Earnings per common share, basic Earnings per common share, diluted Weighted average number of common shares outstanding, basic Weighted average number of common shares outstanding, diluted CONDENSED CONSOLIDATED BALANCE SHEET DATA (in thousands of U.S. Dollars) ASSETS (unaudited) Cash, cash equivalents, restricted cash and time deposits Investments in equity securities Other current assets Fixed assets Investments in related parties and equity method investments Other noncurrent assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Long-term debt and finance liabilities, net of deferred financing costs Other liabilities Total stockholders' equity Total liabilities and stockholders' equity The balance sheet data has been derived from the audited consolidated financial statements at that date. Includes time deposits of $64 million and $40 million as of December 31, 2024 and 2023, respectively. OTHER FINANCIAL DATA (unaudited) Three months ended December 31, Year ended December 31, Net cash provided by/(used in) operating activities Net cash provided by/(used in) investing activities Net cash provided by/(used in) financing activities Diana Shipping (NYSE:DSX-B) Gráfica de Acción Histórica De Ene 2025 a Feb 2025 Diana Shipping (NYSE:DSX-B) Gráfica de Acción Histórica De Feb 2024 a Feb 2025
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