Diana Shipping Inc. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2019

Athens, Greece - July 30, 2019

Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today reported a net loss of $1.3 million and net loss attributed to common stockholders of $2.7 million for the second quarter of 2019, including a $2.8 million impairment loss. This compares to net income of $2.0 million and net income attributed to common stockholders of $0.5 million reported in the second quarter of 2018.

Time charter revenues were $55.4 million for the second quarter of 2019, compared to $53.4 million for the same period of 2018. The increase in time charter revenues was due to increased average time charter rates that the Company achieved for its vessels during the quarter and was partly offset by decreased revenues due to the sale of two vessels in December 2018 and three vessels in the first half of 2019.

Net income and net loss attributed to common stockholders for the six months ended June 30, 2019 amounted to $1.7 million and $1.2 million, respectively, including a $7.5 million impairment loss. This compares to a net loss and net loss attributed to common stockholders of $1.1 million and $4.0 million, respectively, for the same period of 2018. Time charter revenues were $115.7 million for the six months ended June 30, 2019, compared to $101.8 million for the same period of 2018...

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About the Company
The Company is a global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

Diana Shipping Inc. press release