Diana Shipping Inc., a global shipping company specializing in the transportation of dry bulk cargoes, yesterday reported net income of $28.7 million for the third quarter of 2009. This compared to net income of $57.6 million reported in the third quarter of 2008. Voyage and time charter revenues were $58.2 million for the third quarter of 2009, compared to $87.4 million for the same period of 2008, due to a decrease in prevailing time charter rates and increased off-hire and drydock days.

Net income for the nine months ended September 30, 2009 amounted to
$93.9 million, compared to net income of $167.5 million for the same
period of 2008. Voyage and time charter revenues were $180.7 million
for the nine months ended September 30, 2009, compared to $253.1
million for the same period of 2008.

Chairman and Chief Executive Officer’s Comments

“Diana Shipping Inc. has again produced strong results during the third
quarter of 2009. We have delivered a profitable quarter despite the
continued turbulent economic climate. The Company’s cash position has
been strengthened substantially by our recent results, and our debt
level remains one of the lowest among publicly trading shipping
companies. We have further enhanced our earning potential by recently
adding a 20th vessel to our fleet with an attractive charter, and are
expecting delivery of an additional Capesize vessel with a profitable
charter in February 2010,” said Simeon Palios, Chairman and Chief
Executive Officer of Diana Shipping Inc.

Mr. Palios further stated, “We believe Diana Shipping remains
well-positioned to manage through the current difficult period and to
build value for the future. Our intention is to continue pursuing our
strategy to take advantage of the growth opportunities presented during
this low phase of the shipping cycle. Diana Shipping intends to
purchase attractively priced vessels in a gradual and disciplined
manner over the next two years, using our robust balance sheet and cash
position, together with new debt as appropriate, to generate value for
our shareholders.”

Source: Diana Shipping Inc.

Search to find what you want

• Diana Shipping reports financial results for the third quarter and nine months to 30 September 2009

     Diana Shipping Inc., a global shipping company specializing in the transportation of dry bulk cargoes, today reported net income of $28.7 million for the third quarter of 2009.? This compared to net income of $57.6 million reported in the third quarter of 2008. Voyage and time charter revenues were $58.2 million

• Diana Shipping Inc. Reports Financial Results for the second quarter and six months at 30 June

     Diana Shipping Inc., a global shipping company specializing in the transportation of dry bulk cargoes, yesterday reported net income of $30.4 million for the second quarter of 2009. This compared to net income of $56.7 million reported in the second quarter of 2008.  Voyage and time charter revenues were $59.8 million for

• Diana Shipping Inc. Reports Financial Results for the second quarter and six months at 30 June

     Diana Shipping Inc., a global shipping company specializing in the transportation of dry bulk cargoes, yesterday reported net income of $30.4 million for the second quarter of 2009. This compared to net income of $56.7 million reported in the second quarter of 2008.  Voyage and time charter revenues were $59.8 million for

• Diana Shipping reports financial results

     Diana Shipping Inc., a global shipping company specializing in the transportation of dry bulk cargoes, today reported net income of $30.4 million for the second quarter of 2009.  This compared to net income of $56.7 million reported in the second quarter of 2008. Voyage and time charter revenues were $59.8 million

• Diana Shipping Inc. Announces Time Charter Contract for M / V NAIAS

     Diana Shipping Inc., a global shipping company specializing in the transportation of dry bulk cargoes, announced that it has entered into a time charter contract with J. Aron & Company, New York, the principal global trading subsidiary of Goldman Sachs, for one of its Panamax dry bulk carriers, the m/v Naias,

• Diana Shipping Inc. released results for the fourth quarter and fiscal year by 31.12.09

    Diana Shipping Inc., a global shipping company specializing in the transportation of dry bulk cargoes, yesterday reported net income of $27.6 million for the fourth quarter of 2009. This compared to net income of $54.2 million reported in the fourth quarter of 2008.

• Diana Shipping income by almost 50%

    Diana Shipping Inc today reported its net income for the fourth quarter of 2009 fell by almost 50 per cent compared to the same quarter in 2008. Read at Diana Shipping income down by almost 50%

• Diana Shipping Inc. Announces Delivery of Panamax Bulk Carrier

    Diana Shipping Inc., a global shipping transportation company specializing in dry bulk cargoes, announced Friday that the Company took delivery of a 76,436 dwt Panamax dry bulk carrier “Theresa Hebei,” renamed “Melite,” built in 2004 by Tsuneishi Corp., Tadotsu, Japan, on January 28, 2010. The agreement to purchase this vessel

• Diana Shipping Inc. Announces Time Charter Contracts w / v Nirefs and M / V Erato

    Diana Shipping Inc., a global shipping company specializing in the transportation of dry bulk cargoes, yesterday announced that it has entered into a time charter contract with Louis Dreyfus Commodities Suisse S.A., for one of its Panamax dry bulk carriers, the m/v Nirefs, at a gross charter rate of US$21,000

• Diana Shipping Inc. Announces Time Charter Contracts w / v Melita and M / V Thetis

    Diana Shipping Inc., a global shipping company specializing in the transportation of dry bulk cargoes, yesterday announced that it has entered into a time charter contract with J.

• Diana Shipping Reports Financial Results for the fourth quarter and year ended 31 December 2009

     Diana Shipping Inc., a global shipping company specializing in the transportation of dry bulk cargoes, today reported net income of $27.6 million for the fourth quarter of 2009.? This compared to net income of $54.2 million reported in the fourth quarter of 2008. Voyage and time charter revenues were $58.6 million

• Diana Shipping announces delivery of Capesize Bulk Carrier M / V New York and the beginning of the time charter contract with Nippon Yusen Kaisha

     Diana Shipping Inc., a global shipping transportation company specializing in dry bulk cargoes, announced today that the Company took delivery of the newly-built m/v New York, a 177,773 dwt Capesize dry bulk carrier built by Shanghai Waigaoqiao Shipbuilding Co.

• Diana Shipping Inc. Announces Acquisition of a Panamax dry bulk carrier

    Diana Shipping Inc., a global shipping transportation company specializing in dry bulk cargoes, yesterday announced that it has agreed to purchase from an unaffiliated third party the MV “Teresa Hebei”, a 2004 built Panamax dry bulk carrier of 76,436 dwt, for a price of US$35.1 million. The vessel, to be

• Diana Shipping is to acquire a Panamax dry bulk carrier

     Diana Shipping Inc., a global shipping transportation company specializing in dry bulk cargoes, today announced that it has agreed to purchase from an unaffiliated third party the MV “Teresa Hebei”, a 2004 built Panamax dry bulk carrier of 76,436 dwt, for a price of US$35.1 million. The vessel, to be

• Diana Shipping Inc. Announces Intention to Participate in New Container Ship Project

    Diana Shipping Inc., a global shipping company specializing in the transportation of dry bulk cargoes, Friday announced its intention to participate in a new project involving the formation of a company expected to invest in containerships over the next 12-18 months. Diana Shipping intends to invest $50 million for a