Athens, Greece - November 17, 2021
Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today reported net income of $14.7 million and net income attributed to common stockholders of $13.3 million for the third quarter of 2021. This compares to a net loss of $13.2 million and a net loss attributed to common stockholders of $14.6 million, including a $6.8 million impairment loss, reported in the third quarter of 2020.
Time charter revenues were $57.3 million for the third quarter of 2021, compared to $42.3 million for the same quarter of 2020. The increase in time charter revenues was mainly due to increased average time charter rates that the Company achieved for its vessels during the quarter. This increase was partly offset by decreased revenues due to decreased ownership days compared to last year, resulting from the sale of vessels.
Net income for the nine months ended September 30, 2021 amounted to $16.3 million and net income attributed to common stockholders amounted to $11.9 million, including a $1.4 million gain on sale of vessels. This compares to a net loss of $126.8 million and net loss attributed to common stockholders of $131.1 million, including a $102.5 million impairment loss and $1.1 million loss on sale of vessels, for the same period of 2020.
Time charter revenues were $145.4 million for the nine months ended September 30, 2021, compared to $127.1 million for the same period of 2020...
About the Company
Diana Shipping Inc. 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