Diana Shipping Inc. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2013

News, Stock Markets — By on July 30, 2013 at 6:08 PM

ATHENS, GREECE, July 30, 2013 – Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership and operation of dry bulk vessels, today reported a net loss of $5.2 million for the second quarter of 2013, compared to net income of $17.4 million reported in the second quarter of 2012.

Time charter revenues were $40.0 million for the second quarter of 2013, compared to $57.6 million for the same quarter of 2012, mainly due to reduced time charter rates. 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 vessels Philadelphia and Melia, delivered in May 2012; Amphitrite, delivered in August 2012; Polymnia, delivered in November 2012; Myrto, delivered in January 2013; and Maia, delivered in February 2013.

Net loss for the six months ended June 30, 2013 amounted to $8.4 million, compared to net income of $37.3 million for the same period of 2012. Time charter revenues were $82.6 million for the six months ended June 30, 2013, compared to $115.2 million for the same period of 2012…

Please see the detailed financial results here:  125027_DSX_2Q13_Financial_Results_300713

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