Diana Containerships Bounces Back to Profit

Image Courtesy: Diana Containerships

Athens-based shipowner Diana Containerships has managed to return to black during the second quarter of the year as it reported a net income of USD 36.5 million compared to a net loss of USD 8 million seen in the same period of 2016.

Net income for the second quarter of 2017 included a gain from a debt write-off, arising from the settlement agreement with respect to the secured loan facility with The Royal Bank of Scotland plc (RBS), which was signed on June 30, 2017. The specific gain, net of related expenses, amounted to USD 42.2 million.

Time charter revenues, net of prepaid charter revenue amortization, were USD 5.5 million for the second quarter of 2017, compared to USD 8 million for the same period in 2016, mainly due to reduced employment opportunities and lower time charter rates.

For the six-month period ended June 30, 2017, the company delivered a net income of USD 29.1 million, compared to a net loss of USD 13.8 million reported a year earlier.

Time charter revenues, net of prepaid charter revenue amortization, for the six months ended June 30, 2017, amounted to USD 9.3 million, compared to USD 19.8 million for the same period in 2016.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Apr 2018 >>
MTWTFSS
26 27 28 29 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 4 5 6

Singapore Maritime Technology Conference and Exhibition (SMTC) 2018

The 3rd Singapore Maritime Technology Conference and Exhibition (SMTC) 2018 is organized by the Maritime and Port Authority of Singapore…

read more >

Singapore Maritime Week 2018

Singapore Maritime Week (SMW), organised annually by Maritime and Port Authority of Singapore (MPA) and attracts…

read more >

8th Dredging & Land Reclamation World Summit 2018

The 8th Dredging and Land Reclamation Summit 2018 will gather the decision makers from Authorities and Operators responsible for ports…

read more >

Shipping 360

This course is ideal for those who have recently joined the maritime sector and those who need to have a better understanding…

read more >