Diana Shipping Stays in Red

Image Courtesy: Diana Shipping

Athens-based dry bulk owner Diana Shipping has managed to slightly improve its financials by shrinking its net loss in the second quarter of 2017.

Although the net loss decreased, the company still ended the quarter with a net loss of USD 23.8 million, compared to a net loss of USD 31.3 million seen in the same three-month period of 2016.

Diana Shipping’s operating loss stood at USD 15.5 million, compared to an operating loss of USD 24.2 million reported a year earlier, while the company’s time charter revenues reached USD 37.8 million, up from USD 28.3 million seen in the same quarter of 2016.

The increase in time charter revenues was due to increased average time charter rates achieved for the company’s vessels during the quarter and increased revenues resulting from the enlargement of the fleet.

Net loss for the six months ended June 30, 2017 amounted to USD 50.3 million, compared to a net loss of USD 62.7 million reported in the same period a year earlier.

Time charter revenues for the first half of the year increased to USD 69 million from USD 59.1 million reported in the same six-month period of 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 >