Diana Shipping Inc. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2011
ATHENS, GREECE, August 4, 2011 – Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the transportation of dry bulk cargoes, today reported net income of $27.7 million for the second quarter of 2011, compared to net income of $33.9 million reported in the second quarter of 2010.
Time charter revenues were $64.6 million for the second quarter of 2011, compared to $68.7 million for the same period of 2010, mainly due to reduced average time charter rates and increase in off hire days. The decrease in time charter revenues was partly offset by revenues derived from the increase in ownership days resulting from the addition to the Company’s fleet of the vessel Alcmene in November 2010.
Net income to Diana Shipping Inc. for the six months ended June 30, 2011 amounted to $60.8 million, compared to net income of $62.7 million for the same period of 2010. Time charter revenues were $134.1 million for the six months ended June 30, 2011, compared to $130.9 million for 2010...