- Net income and net loss attributed to common stockholders for the six months ended June 30, 2019.
- It amounted to $1.7 million and $1.2 million, respectively, including a $7.5 million impairment loss.
- This compares to a net loss and net loss attributed to common stockholders of $1.1 million and $4.0 million, respectively, for the same period of 2018.
- Time charter revenues were $115.7 million for the six months ended June 30, 2019, compared to $101.8 million for the same period of 2018.
According to a report published in Stockhouse, Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels has released its Quarterly 2 and Half-yearly report for the financial year 2019.
Tender released
The company today announced the final results of its tender offer to purchase up to 2,000,000 shares of its common stock, par value of US$0.01 per share, at a price of US$3.75 per share, net to the seller in cash, less any applicable withholding taxes and without interest.
Tendering shareholder prorated
Based on the final count by Computershare Trust Company, N.A., the depositary for the tender offer, the total number of shares tendered in the tender offer was 2,618,080.6973 shares. Because the tender offer was oversubscribed, the number of shares that the Company purchased from each tendering shareholder was prorated so that the Company purchased a total of 2,000,000 shares in the tender offer for an aggregate purchase price of US$7,500,000.
Net loss attributed to stockholders
Diana Shipping Inc. reported a net loss of $1.3 million and net loss attributed to common stockholders of $2.7 million for the second quarter of 2019, including a $2.8 million impairment loss. This compares to net income of $2.0 million and net income attributed to common stockholders of $0.5 million reported in the second quarter of 2018.
Time charter revenues
Time charter revenues were $55.4 million for the second quarter of 2019, compared to $53.4 million for the same period of 2018. 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 was partly offset by decreased revenues due to the sale of two vessels in December 2018 and three vessels in the first half of 2019.
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Source: Stockhouse
