Diana Shipping Inc. Reports First Quarter Net Income of $3 Million

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, reported net income of $3.0 million and net income attributed to common stockholders of $1.5 million for the first quarter of 2019, including a $4.8 million impairment loss. This compares to a net loss of $3.1 million and net loss attributed to common stockholders of $4.5 million reported in the first quarter of 2018.

Time charter revenues were $60.3 million for the first quarter of 2019, compared to $48.4 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.

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