Diana Containerships Inc., a global provider of shipping transportation services, had a net loss of $42.3 million for the second quarter of 2018, when compared to net income of $36.5 million for the same period of 2017, making its position uncertain.
The Company’s vessels are employed primarily on time charters with leading liner companies carrying containerized cargo along worldwide shipping routes.
Loss incurred
Net loss for the six months until June 30, 2018 amounted to $46.2 million, when compared to a net income of $29.1 million for the six months that ended on 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.
Although the company second quarter 2018 reports show that it had $19.0 million of aggregate loss on sale of three vessels.
No compensating revenue
Time charter revenues were $6.3 million for the second quarter of 2018, while being only $5.5 million for the same period of 2017. But, this increase was mainly the result of an increased time charter rates achieved due to an improved market conditions, and partially by the decrease in the average number of the Company’s vessels.
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Source: Maritime Professional
