Diana Shipping Reports First Quarter Net Loss of $3.1 million

Diana

Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, reported a net loss of $3.1 million and net loss attributed to common stockholders of $4.5 million for the first quarter of 2018, compared to a net loss of $26.5 million and net loss attributed to common stockholders of $27.9 million reported in the first quarter of 2017.

Time charter revenues were $48.4 million for the first quarter of 2018, compared to $31.3 million for the same period of 2017. The increase in time charter revenues was due to increased average time charter rates that the Company achieved for its vessels during the quarter and increased ownership days resulting from the enlargement of the fleet.

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