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Diana Shipping reports 2Q18 and 1H18 financial results

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Dry Bulk,


Yesterday, Diana Shipping Inc., (Diana Shipping), a global shipping company specialising in the ownership of dry bulk vessels, reported a net income of US$2.0 million and net income attributed to common stockholders of $0.5 million for the second quarter of 2018, compared to a net loss of US$23.8 million and a net loss attributed to common stockholders of US$25.3 million in the second quarter of 2017.

Time charter revenues were reportedly US$53.4 million for the second quarter of 2018, compared to US$37.8 million for the same period of 2017. According to Diana Shipping, this increase in time charter revenues was due to increased average time charter rates that the company achieved for its vessels during the quarter and increased ownership days resulting from the enlargement of the fleet.

Net loss and net loss attributed to common stockholders for the six months ended 30 June 2018 stood at US$1.1 million and US$4.0 million, respectively. This compares to a net loss and net loss attributed to common stockholders of US$50.3 million and US$53.2 million, respectively, for the same period of 2017. Time charter revenues were US$101.8 million for the six months ended 30 June 2018, compared to US$69.0 million for the same period in the previous year.

Read the article online at: https://www.drybulkmagazine.com/shipping/27072018/diana-shipping-reports-2q18-and-1h18-financial-results/

 

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