Diana Shipping Inc. reports first quarter net loss of $1.3 Million, says a press release published on their website.
Net loss reported
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, reported a net loss of $1.3 million and a net loss attributed to common stockholders of $2.7 million for the first quarter of 2021.
This compares to a net loss of $102.8 million and net loss attributed to common stockholders of $104.3 million reported in the first quarter of 2020, including a $93.1 million impairment loss. Loss per share for the first quarter of 2021 was $0.03 compared to a loss per share of $1.21 in the same quarter in 2020.
Time charter revenues
Time charter revenues were $41.1 million for the first quarter of 2021, compared to $43.8 million for the same quarter of 2020.
The decrease in time charter revenues was due to the decreased ownership days compared to the prior-year period, resulting from the sale of vessels.
This decrease was partly offset by increased average time charter rates that the Company achieved for its vessels during the quarter and a better utilization rate.
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Source: Diana Shipping Inc.
