Diana posts net loss of $31.3 million in Q2

Diana Shipping

Diana Shipping reported a net loss of $31.3 million and net loss attributed to common stockholders of $32.7 million for the second quarter of 2016, compared to a net loss of $14.1 million and net loss attributed to common stockholders of $15.5 million for the second quarter of 2015.

Time charter revenues were $28.3 million for the second quarter of 2016, compared to $38.6 million for the same quarter of 2015. The decrease in time charter revenues was mainly due to decreased average time charter rates that we achieved for our vessels during the quarter and was partly offset by revenues derived from the increase in ownership days resulting from the enlargement of our fleet.

Net loss and net loss attributed to common stockholders for the six months ended June 30, 2016 amounted to $62.7 million and $65.6 million, respectively, compared to a net loss and net loss attributed to common stockholders of $24.8 million and $27.7 million, respectively, for the same period of 2015. Time charter revenues were $59.1 million for the six months ended June 30, 2016, compared to $80.6 million for the same period of 2015.

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