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Basis of Presentation and General Information and Recent Accounting Pronouncements
6 Months Ended
Jun. 30, 2025
Basis of Presentation and General Information and Recent Accounting Pronouncements [Abstract]  
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,
 
2024
 
included
 
in
 
the
 
Company’s
 
Annual
 
Report
 
on
 
Form
 
20-F
 
filed
 
with
 
the
Securities and
 
Exchange Commission on
 
March 21,
 
2025 and,
 
in the
 
opinion of
 
management, reflect
 
all
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, 2025, are
 
not necessarily indicative
 
of the results
 
that might be
 
expected for the
fiscal year ending December 31, 2025.
The
 
consolidated
 
balance
 
sheet
 
as
 
of
 
December 31,
 
2024,
 
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 3(a)). The fees paid to DSS
are eliminated on consolidation.