Diana Shipping’s Net Loss Edges Down in Q1

Image Courtesy: Diana Shipping

Greek owner of dry bulk vessels Diana Shipping today reported a net loss of USD 26.5 million for the first quarter of 2017, narrowing last year’s net loss of USD 31.4 million.

The company’s net loss attributed to common stockholders of was USD 27.9 million, also down from USD 32.8 million reported in the first quarter of 2016.

During the first three months of this year time charter revenues stood at USD 31.3 million, marking an improvement when compared to USD 30.8 million reported in the corresponding period in 2016.

“The increase in time charter revenues was due to increased average time charter rates that we achieved for our vessels during the quarter and increased ownership days resulting from the enlargement of our fleet,” the company said.

Namely, in January, the shipowner took delivery of the two newbuilding Newcastlemax dry bulkers of approximately 208,500 dwt that were contracted in May 2013, m/v San Francisco and the m/v Newport News.

In addition, the company’s board approved the acquisition of three second-hand vessels back in April. Out of the batch, two 2013-built vessels have been delivered so far with one more scheduled for delivery by the end of this month.

Specifically, Post-Panamax vessel, previously known as Soya May, was handed over to Diana earlier this month from the US-based Foremost Maritime Corp, followed by M/V Astarte Kamsarmax bulker that was delivered yesterday from compatriot shipping company Thenamaris.

Diana Shipping’s fleet currently consists of 50 dry bulk vessels, with one Post-Panamax dry bulk vessel slated for delivery by the end of May 2017. The combined carrying capacity of the fleet is approximately 5.8 million dwt with a weighted average age of 7.86 years.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2017 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Maritime Information Warfare 2017

Maritime Information Warfare will focus on the growing need for navies to develop their information exploitation capabilities…

read more >

INTERNATIONAL GREEN SHIPPING AND TECHNOLOGY SUMMIT

The Summit will gather key marine experts and companies around the globe which have a big influence in the industry…

read more >

The CWC 18th Annual World LNG Summit & Awards Evening

The CWC World LNG Summit will continue to give you access to premium networking opportunities as it brings together the who’s who…

read more >

Marintec China 2017

The largest maritime event in Asia Pacific, Marintec China connects maritime professionals from the entire shipbuilding supply chain together.

Over the years, Marintec China has grown to reflect the size and importance of the Asian maritime market. 2015 event is another record-breaking edition with the largest exhibition area and the highest number of industry professionals attending ever. The encouraging figures proven that China remains one of the major shipbuilding nations and Marintec China has been the most authoritative platform in Asia.

With the maritime industry facing great opportunities but also many challenges, it is important for the industry to connect and engage more to ultimately win new business in globally-significant markets. A visit to Marintec China is a great way to learn about the latest technology and innovation of the supply industry, a platform for industry professional to meet face to face, make connection and do business.

Marintec China is poised to be the definitive event and is undoubtedly a must-attend for all involved in the maritime industry.

Marintec China will be held from 5 to 8 December 2017 at the Shanghai New International Expo Centre in Shanghai, China and continue its dedication to serve as the “LEADING” platform “CONNECTING” the community and “STRENGTHENING” the maritime industry.

Marintec China offers the perfect opportunity for companies serving the maritime market to showcase their innovations, products and services to a wide audience. A platform for face to face meetings in business, creating new relationships and consolidating existing ones.

More info

read more >