Diana Shipping Inc. Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2010
ATHENS, GREECE, November 15, 2010 – Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the transportation of dry bulk cargoes, today reported net income of $33.8 million for the third quarter of 2010 compared to net income of $28.7 million reported in the third quarter of 2009.
Voyage and time charter revenues were $71.6 million for the third quarter of 2010, compared to $58.2 million for the same period of 2009, mainly due to the addition to the Company’s fleet of the vessels m/v Houston, acquired in October 2009, m/v Melite, delivered in January 2010, m/v New York, delivered in March 2010 and the participation of the Company in Diana Containerships Inc., a majority-owned subsidiary.
Net income to Diana Shipping Inc., for the nine months ended September 30, 2010 amounted to $96.5 million, compared to net income of $93.9 million for the same period of 2009. Voyage and time charter revenues were $202.5 million for the nine months ended September 30, 2010, compared to $180.7 million for the same period of 2009...