Finance & Economy

Diana Shipping posts net income of $20.0 million

Diana Shipping, a global shipping company specializing in the ownership and operation of dry bulk vessels, today reported net income of $20.0 million for the first quarter of 2012, compared to net income of $33.1 million reported in the first quarter of 2011. Time charter revenues were $57.6 million for the first quarter of 2012, compared to $69.4 million for the same period of 2011, mainly due to reduced time charter rates.
 3/5/2012
Navios Partners Announces Public Offering of 4 mln Common Units

Navios Partners, an owner and operator of dry cargo vessels, announced that it plans to offer 4,000,000 common units representing limited partnership interests in a public offering. Navios Partners expects to grant the underwriters a 30-day option to purchase an additional 600,000 common units. Navios Partners expects to use the net proceeds from the public offering to fund its fleet expansion and/or for general partnership purposes.
 3/5/2012
CPP posts USD 3.2 million net income in 1Q2012
Capital Product Partners released financial results for the first quarter of 2012. Net income was USD 3.2 million, attributed to increased operating income derived from time charter employment of certain crude vessels following the acquisition of Crude Carriers completed in Sep. 2011. The company also announced a dividend of USD 0.93/unit.
2/5/2012
Diana Containerships posts net income of $1.9 million for 1Q2012

Diana Containerships, a global shipping company specializing in owning and operating containerships, reported net income of $1.9 million for the first quarter of 2012, compared to a net income of $0.3 million for the same period of 2011. The Company has declared a cash dividend on its common stock of $0.25 per share. The cash dividend will be payable on May 31, 2012 to all shareholders of record as at May 17, 2012.
 2/5/2012
Box Ships files for mixed shelf of up to $500 mln
Michael Bodouroglou-led containership owner, Box Ships - an international shipping company engaged in the seaborne transportation of containers worldwide -, has filed for mixed shelf of up to $500 million, a regulatory disclosure shows. The company, in search of fresh funds, recently declared a quarterly dividend of $0.30 per share with respect to the first quarter of 2012.
2/5/2012
Yang Ming in the red in the first quarter

Yang Ming Marine Transport Corp, Taiwan's second-biggest container shipper by fleet size, reported NT$5.39 billion (US$184.39 million), or N$1.91 per share, in net loss for the first three months, from a net loss of NT$4.1 billion recorded in the previous quarter. Yang Ming posted the highest quarterly net loss among the three major container shipping companies in Taiwan, with the quarterly loss per share of NT$1.91 marking the second-highest level in its history

 2/5/2012
NewLead "raises substantial doubt about its ability to continue"

In a SEC filing explaining its failure to issue an annual report, NewLead Holdings says it has already cashed in 12 vessels and had a further four arrested by lenders, raising doubts about the company's future. NewLead reveals the latest round of sales will see it exit the wet sector and claims it has also entered a fresh business relationship outside of the shipping industry.
 1/5/2012
OSG Reports First Quarter 2012 Results
Overseas Shipholding Group, Inc., a market leader in providing energy transportation services, today reported results for the first quarter of fiscal 2012 ended March 31, 2012. For the quarter ended March 31, 2012, the Company reported TCE revenues of $214.0 million, an increase of $7.4 million, or 4%, from $206.6 million in the 2011 quarter.
1/5/2012
Baltic Trading reports 1Q2012 $4.5 million net loss
Baltic Trading Limited reported its financial results for the three months ended March 31, 2012. The Company recorded a net loss for the first quarter of 2012 of $4.5 million, or $0.20 basic and diluted loss per share. Comparatively, for the three months ended March 31, 2011, the Company recorded a net loss of $1.7 million, or $0.08 basic and diluted loss per share.
 1/5/2012
Box Ships Declares Dividend Of $0.30/Share For 1Q2012
Box Ships, a global shipping company specializing in the transportation of containers, announced that the Company's Board of Directors declared a quarterly dividend of $0.30 per share with respect to the first quarter of 2012, payable on or about May 18, 2012 to shareholders of record as of the close of business on May 11, 2012.
 1/5/2012

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