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Diana Shipping reports net loss of US$23.3 million

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Dry Bulk,


Diana Shipping Inc. has reported a net loss of US$23.3 million and a net loss attributed to common stockholders of US$24.7 million for 4Q16. This compares to a net loss of US$22.5 million and a net loss attributed to common stockholders of US$23.9 million for 4Q15.

Time charter revenues were US$28.0 million for 4Q16, compared to US$38.3 million for 4Q15. The decrease in time charter revenues was due to decreased average time charter rates that we achieved for our vessels during the quarter and was partly offset by revenues derived from the increase in ownership days resulting from the enlargement of our fleet.

Net loss and net loss attributed to common stockholders for the year ended 31 December 2016 amounted to US$164.2 million and US$170.0 million, respectively, of which US$56.5 million relates to loss and impairment of our investment in Diana Containerships Inc. This compares to a net loss and a net loss attributed to common stockholders of US$64.7 million and US$70.5 million, respectively, for the year ended 31 December 2015. Time charter revenues were US$114.3 million for the year ended 31 December 2016, compared to US$157.7 million for the year ended 31 December 2015.

Read the article online at: https://www.drybulkmagazine.com/shipping/15022017/diana-shipping-reports-net-loss-of-us233-million/


 

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Dry bulk shipping market