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Diana Shipping reports financial results

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Dry Bulk,


Diana Shipping Inc. has reported a net loss of US$1.3 million and net loss attributed to common stockholders of US$2.7 million for the second quarter of 2019, including a US$2.8 million impairment loss. This compares to net income of US$2 million and net income attributed to common stockholders of US$0.5 million reported in the second quarter of 2018.

Time charter revenues were US$55.4 million for the second quarter of 2019, compared to US$53.4 million for the same period of 2018. The increase in time charter revenues was due to increased average time charter rates that the Company achieved for its vessels during the quarter and was partly offset by decreased revenues due to the sale of two vessels in December 2018 and three vessels in the first half of 2019.

Net income and net loss attributed to common stockholders for the six months ended 30 June 2019 amounted to US$1.7 million and US$1.2 million, respectively, including a US$7.5 million impairment loss. This compares to a net loss and net loss attributed to common stockholders of US$1.1 million and US$4 million, respectively, for the same period of 2018. Time charter revenues were US$115.7 million for the six months ended 30 June 2019, compared to US$101.8 million for the same period of 2018.

Read the article online at: https://www.drybulkmagazine.com/dry-bulk/31072019/diana-shipping-reports-financial-results/

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