Diana Shipping Delivers Wider Loss

Time: 2016-07-29 13:39
As the activities in the dry bulk shipping industry remained slow, the Greek dry bulk ship owner Diana Shipping reported a net loss of USD 31.3 million for the second quarter of 2016, compared to a net loss of USD 14.1 million for the same period a year earlier.

Time charter revenues were USD 28.3 million for the second quarter of 2016, against USD 38.6 million for the same quarter of 2015.

“The decrease in time charter revenues was mainly due to decreased average time charter rates that we achieved for our vessels during the quarter and was partly offset by revenues derived from the increase in ownership days resulting from the enlargement of our fleet,” Diana Shipping said.

The company’s net loss for the six months ended June 30, 2016 amounted to USD 62.7 million, compared to a net loss USD 24.8 million seen in the same period of 2015.

Time charter revenues for the six months stood at USD 59.1 million, down from USD 80.6 million reported a year earlier.
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