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Diana Shipping's reports improved 3Q18 results on last year

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Dry Bulk,


Yesterday, Diana Shipping Inc., a global shipping company specialising in the ownership of dry bulk vessels, reported a net income of US$14.8 million and a net income attributed to common stockholders of US$13.3 million for 3Q18, compared to a net loss of US$24.5 million and a net loss attributed to common stockholders of US$25.9 million reported in 3Q17.

Time charter revenues were US$61.5 million for 3Q18, compared to US$43.9 million for the same period of 2017. The increase in time charter revenues was due to increased average time charter rates that the company achieved for its vessels during the quarter.

Net income and net income attributed to common stockholders for the nine months ended 30 September 2018 amounted to US$13.7 million and US$9.3 million, respectively. This compares to a net loss and net loss attributed to common stockholders of US$74.8 million and US$79.1 million, respectively, for the same period of 2017. Time charter revenues were US$163.3 million for the nine months ended 30 September 2018, compared to US$113.0 million for the same period of 2017.

Read the article online at: https://www.drybulkmagazine.com/shipping/27112018/diana-shipping-reports-improved-3q18-results-on-last-year/

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