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Basis of Presentation and General Information and Recent Accounting Pronouncements | 6 Months Ended
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Jun. 30, 2023
Basis of Presentation and General Information and Recent Accounting Pronouncements |
Basis of Presentation and General Information and Recent Accounting Pronouncements | 1. Basis of Presentation and General Information and Recent Accounting Pronouncements The accompanying unaudited interim consolidated financial statements include the accounts of Diana Shipping Inc., or DSI and its wholly owned subsidiaries (collectively, the “Company”). DSI was formed on March 8, 1999 as Diana Shipping Investment Corp. under the laws of the Republic of Liberia. In February 2005, the Company’s articles of incorporation were amended. Under the amended articles of incorporation, the Company was renamed Diana Shipping Inc. and was re-domiciled from the Republic of Liberia to the Republic of the Marshall Islands. The accompanying unaudited interim consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles, or U.S. GAAP, for interim financial information. Accordingly, they do not include all the information and notes required by U.S. GAAP for complete financial statements. These unaudited interim consolidated financial statements have been prepared on the same basis and should be read in conjunction with the financial statements for the year ended December 31, 2022 included in the Company’s Annual Report on Form 20-F filed with the Securities and Exchange Commission on March 27, 2023 and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments considered necessary for a fair presentation of the Company's financial position, results of operations and cash flows for the periods presented. Operating results for the six months ended June 30, 2023, are not necessarily indicative of the results that might be expected for the fiscal year ending December 31, 2023. The consolidated balance sheet as of December 31, 2022, has been derived from the audited consolidated financial statements as of that date, but does not include all information and footnotes required by U.S. GAAP for complete financial statements. The Company is engaged in the ocean transportation of dry bulk cargoes worldwide mainly through the ownership and bareboat charter in of dry bulk carrier vessels. The Company operates its own fleet through Diana Shipping Services S.A. (or “DSS”), a wholly owned subsidiary and through Diana Wilhelmsen Management Limited, or DWM, a 50 % owned joint venture (Note 2(c)). The fees paid to DSS are eliminated on consolidation. Significant Accounting Policies and Recent Accounting Pronouncements: A discussion of the Company’s significant accounting policies can be found in Note 2 to the Company’s Consolidated Financial Statements included in the Annual Report on Form 20-F for the year ended December 31, 2022. There have been no material changes to these policies in the six months ended June 30, 2023, except for as discussed below: Equity method investments Under this method, the Company records such an investment at cost (or fair value if a consequence of deconsolidation) and adjusts the carrying amount for its share of the earnings or losses of the entity subsequent to the date of investment and reports the recognized earnings or losses in income. Accrued Interest Income As of June 30, 2023 and December 31, 2022, accrued interest income amounted to $ 1,546 and $ 591 , respectively and is included in Prepaid expenses and other assets in the accompanying interim consolidated balance sheets.

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- Definition The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -URI https://asc.fasb.org/topic&trid=2122149 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -URI https://asc.fasb.org/topic&trid=2197479 + Details
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