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Diana Shipping Inc. Reports Second Quarter Net Income of $2.8 Million

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, yesterday reported net income of $2.8 million and net income attributed to common stockholders of $1.4 million for the second quarter of 2021. This compares to a net loss of $10.8 million and net loss attributed to common stockholders of $12.2 million, including a $2.6 million impairment loss, reported in the second quarter of 2020.

Time charter revenues were $47.0 million for the second quarter of 2021, compared to $41.0 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.

Image: Diana Shipping Inc.

Net income for the six months ended June 30, 2021 amounted to $1.5 million and net loss attributed to common stockholders amounted to $1.4 million. This compares to a net loss of $113.6 million and net loss attributed to common stockholders of $116.5 million, including a $95.7 million impairment loss and $1.1 million loss from sale of vessels, for the same period of 2020. Time charter revenues were $88.1 million for the first half of 2021, compared to $84.7 million for the same period of 2020.
Source: Diana Shipping Inc.

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