The Greek dry bulk vessel owner benefited from higher time charter rates and enlargement of its fleet.
Diana Shipping, a dry bulk vessel owner, posted a net income of $2 million for the second quarter of 2018, up from a net loss of $23.8 million for last year’s second quarter.
Time charter revenues for the second quarter of 2018 jumped 41 percent year-over-year to $53.4 million, fueled by higher average time charter rates that the company achieved for its vessels during the quarter, as well as increased ownership days resulting from the enlargement of the fleet.
Diana Shipping’s fleet is comprised of 50 dry bulk vessels: 22 Panamax vessels, 14 Capesize vessels, five post-Panamax vessels, five Kamsarmax vessels, and four Newcastlemax vessels.
The vessels primarily are employed on medium to long-term time charters, transporting a range of dry bulk cargo along worldwide shipping routes.
Diana Shipping turns a profit in Q2
