Diana Containerships reports financial results for Q2 and six months ended 30 June 2018

Accountancy, Company Profiles, Containers, Markets, News, Reports, Shipmanagement — By on July 27, 2018 at 2:10 PM

..

DIANA CONTAINERSHIPS INC. REPORTS FINANCIAL RESULTS  FOR THE SECOND QUARTER AND SIX MONTHS ENDED JUNE 30, 2018

ATHENS, GREECE, July 27, 2018 – Diana Containerships Inc. (NASDAQ: DCIX), (the “Company”), a global shipping company specializing in the ownership of containerships, today reported a net loss of $42.3 million for the second quarter of 2018, compared to net income of $36.5 million for the same period of 2017.  The loss for the second quarter of 2018 includes $15.6 million of impairment charges of one vessel and $19.0 million of aggregate loss on sale of three vessels. Net income for the second quarter of 2017 included a gain of $42.2 million, net of related expenses, from a debt write-off, arising from the settlement agreement with respect to the secured loan facility with the Royal Bank of Scotland plc (“RBS”), which was signed on June 30, 2017.

Time charter revenues were $6.3 million for the second quarter of 2018, compared to $5.5 million for the same period of 2017. This increase was mainly the result of increased time charter rates achieved as a result of improved market conditions, and was partially off-set by the decrease in the average number of the Company’s vessels.

Net loss for the six months ended June 30, 2018 amounted to $46.2 million, compared to net income of $29.1 million for the six months ended June 30, 2017. The loss for the six months ended June 30, 2018 includes $15.6 million of impairment charges of one vessel and $16.7 million of aggregate loss on sale of six vessels. The net income for the six months ended June 30, 2017 reflected a gain of $42.2 million, net of related expenses, arising from the RBS loan write-off. Time charter revenues for the six months ended June 30, 2018, amounted to $14.3 million, compared to $9.3 million for the six months ended June 30, 2017.

As of July 25, 2018, the Company had 9,958,935 shares of common stock issued and outstanding.

Viewers can read the full report herebelow:

DCIX_Financial_Results_300618

Tags:

Leave a Reply

IMPORTANT! To be able to proceed, you need to solve the following simple math (so we know that you are a human) :-)

What is 11 + 10 ?
Please leave these two fields as-is:

Trackbacks

Leave a Trackback