Diana Shipping Posts $1.8M Q3 Net Income

December 2, 2019

Diana Shipping reported net income of $1.8 million and net income attributed to common stockholders of $3 million for the third quarter of 2019. This compares to net income of $14.8 million and net income attributed to common stockholders of $13.3 million reported in the third quarter of 2018.

Time charter revenues were $53.5 million for the third quarter of 2019, compared to $61.5 million for the same period of 2018. The decrease in time charter revenues was mainly due to decreased revenues due to the sale of two vessels in December 2018 and five vessels during the nine months ended September 30, 2019 and decreased average time charter rates that the company achieved for its vessels during the quarter.

Net income for the nine months ended September 30, 2019 amounted to $3.4 million and net loss attributed to common stockholders amounted to $0.9 million, including a $7.5 million impairment loss. This compares to net income and net income attributed to common stockholders of $13.7 million and $9.3 million, respectively, for the same period of 2018. Time charter revenues were $169.2 million for the nine months ended September 30, 2019, compared to $163.3 million for the same period of 2018.

Logistics News

Call for Australian Government to Take Up Sustainable Seafarer Welfare

Call for Australian Government to Take Up Sustainable Seafarer Welfare

Partners Study Year-Round Shipping from Canada’s Churchill Port

Partners Study Year-Round Shipping from Canada’s Churchill Port

Indigenous Protesters Occupy Cargill's Santarem Port Terminal

Indigenous Protesters Occupy Cargill's Santarem Port Terminal

Xeneta: Weekly Ocean Container Shipping Market Update

Xeneta: Weekly Ocean Container Shipping Market Update

Subscribe for Maritime Logistics Professional E‑News

Azul, a Brazilian airline, has exited Chapter 11 bankruptcy proceedings
Businesses celebrate victory over Trump tariffs but refunds may take some time
The US reverses course and will continue to operate the TSA PreCheck Program