Diana Shipping Inc. Reports Financial Results for the First Quarter Ended March 31, 2022; Declares Cash Dividend of 25 Cents Per Share for the First Quarter of 2022
May 24 2022 - 8:35AM
Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping
company specializing in the ownership and bareboat charter-in of
dry bulk vessels, today reported net income of $26.0 million and
net income attributed to common stockholders of $24.6 million for
the first quarter of 2022. This compares to a net loss of $1.3
million and net loss attributed to common stockholders of $2.7
million reported in the first quarter of 2021. Earnings per share
for the first quarter of 2022 was $0.32 basic and $0.31 diluted,
compared to loss per share of $0.03 basic and diluted in the same
quarter in 2021.
Time charter revenues were $65.9 million for the
first quarter of 2022, compared to $41.1 million for the same
quarter of 2021. The increase in time charter revenues was due to
increased average time charter rates that the Company achieved for
its vessels during the quarter. This increase was partly offset by
decreased ownership days compared to the same quarter of last year,
which was due to vessel sales and a spin-off in November 2021.
Dividend Declaration
The Company has declared a cash dividend on its
common stock of $0.25 per share, based on the Company’s results of
operations during the first quarter ended March 31, 2022. The cash
dividend will be payable on or about June 17, 2022 to all
shareholders of record as of June 6, 2022. The Company currently
has 86,142,258 common shares issued and outstanding.
|
|
Fleet
Employment Profile (As of May 23, 2022) |
|
|
Diana Shipping Inc.’s fleet is employed as follows: |
|
|
Vessel |
SisterShips* |
Gross Rate(USD PerDay) |
Com** |
Charterers |
Delivery Date toCharterers*** |
Redelivery Date toOwners**** |
Notes |
|
|
BUILT DWT |
|
|
|
|
|
|
|
|
|
|
|
|
8 Panamax Bulk Carriers |
1 |
|
MELIA |
|
$25,750 |
5.00 |
% |
Viterra Chartering B.V., Rotterdam |
11-Jun-21 |
28-May-22 |
1 |
|
|
2005 76,225 |
|
|
|
|
|
|
|
2 |
|
ARTEMIS |
|
$10,250 |
5.00 |
% |
Glencore Agriculture B.V., Rotterdam |
30-Nov-20 |
21-Mar-22 |
|
|
|
|
|
$21,250 |
4.75 |
% |
Cargill International S.A., Geneva |
21-Mar-22 |
20-Jun-23 - 20-Aug-23 |
|
|
|
2006 76,942 |
|
|
|
|
|
|
|
3 |
|
LETO |
|
$25,500 |
4.75 |
% |
Aquavita International S.A. |
3-Oct-21 |
1-Feb-23 - 15-Apr-23 |
|
|
|
2010 81,297 |
|
|
|
|
|
|
|
4 |
|
SELINA |
A |
$26,500 |
5.00 |
% |
ASL Bulk Shipping HK Limited |
2-Sep-21 |
15-Jun-22 - 15-Sep-22 |
|
|
|
2010 75,700 |
|
|
|
|
|
|
|
5 |
|
MAERA |
A |
$26,000 |
5.00 |
% |
ASL Bulk Shipping HK Limited |
18-Sep-21 |
1-Oct-22 - 15-Dec-22 |
|
|
|
2013 75,403 |
|
|
|
|
|
|
|
6 |
|
ISMENE |
|
$18,500 |
4.75 |
% |
Cargill International S.A., Geneva |
23-Nov-21 |
15-Dec-22 - 15-Feb-23 |
|
|
|
2013 77,901 |
|
|
|
|
|
|
|
7 |
|
CRYSTALIA |
B |
$26,100 |
5.00 |
% |
Uniper Global Commodities SE, Düsseldorf |
21-Sep-21 |
1-Oct-22 - 15-Dec-22 |
|
|
|
2014 77,525 |
|
|
|
|
|
|
|
8 |
|
ATALANDI |
B |
$24,500 |
4.75 |
% |
Aquavita International S.A. |
5-Oct-21 |
15-Feb-23 - 30-Apr-23 |
|
|
|
2014 77,529 |
|
|
|
|
|
|
|
|
|
6 Kamsarmax Bulk Carriers |
9 |
|
MAIA |
C |
$25,000 |
5.00 |
% |
Viterra Chartering B.V., Rotterdam |
20-Jun-21 |
24-May-22 |
2 |
|
|
|
|
$25,000 |
5.00 |
% |
Hyundai Glovis Co. Ltd. |
24-May-22 |
20-Sep-23 - 20-Nov-23 |
3 |
|
|
2009 82,193 |
|
|
|
|
|
|
|
10 |
|
MYRSINI |
C |
$22,000 |
4.75 |
% |
Cargill International S.A., Geneva |
15-Nov-21 |
1-Dec-22 - 31-Jan-23 |
|
|
|
2010 82,117 |
|
|
|
|
|
|
|
11 |
|
MEDUSA |
C |
$11,000 |
4.75 |
% |
Cargill International S.A., Geneva |
19-Nov-20 |
9-Mar-22 |
|
|
|
|
|
$26,000 |
4.75 |
% |
9-Mar-22 |
15-May-23 - 15-Jul-23 |
|
|
|
2010 82,194 |
|
|
|
|
|
|
|
12 |
|
MYRTO |
C |
$28,500 |
5.00 |
% |
Solebay Shipping Transocean Company Limited |
10-Sep-21 |
15-Aug-22 - 15-Oct-22 |
|
|
|
2013 82,131 |
|
|
|
|
|
|
|
13 |
|
ASTARTE |
|
$21,500 |
5.00 |
% |
Tongli Shipping Pte. Ltd. |
30-Jan-22 |
15-Apr-23 - 15-Jun-23 |
4 |
|
|
2013 81,513 |
|
|
|
|
|
|
|
14 |
|
LEONIDAS P. C. |
|
$24,500 |
4.75 |
% |
Cargill International S.A., Geneva |
18-Feb-22 |
1-Mar-23 - 30-Apr-23 |
5 |
|
|
2011 82,165 |
|
|
|
|
|
|
|
|
|
5 Post-Panamax Bulk Carriers |
15 |
|
ALCMENE |
|
$17,100 |
5.00 |
% |
SwissMarine Pte. Ltd., Singapore |
25-Nov-21 |
20-Dec-22 - 5-Mar-23 |
|
|
|
2010 93,193 |
|
|
|
|
|
|
|
16 |
|
AMPHITRITE |
D |
$27,000 |
5.00 |
% |
BG Shipping Co., Limited, Hong Kong |
13-Sep-21 |
15-Oct-22 - 15-Dec-22 |
|
|
|
2012 98,697 |
|
|
|
|
|
|
|
17 |
|
POLYMNIA |
D |
$12,100 |
5.00 |
% |
CLdN Cobelfret SA, Luxembourg |
22-Nov-20 |
4-Feb-22 |
6 |
|
|
|
|
$24,750 |
5.00 |
% |
4-Feb-22 |
15-Jan-23 - 15-Mar-23 |
|
|
|
2012 98,704 |
|
|
|
|
|
|
|
18 |
|
ELECTRA |
E |
$21,000 |
5.00 |
% |
Tongli Shipping Pte. Ltd. |
28-Apr-21 |
13-Apr-22 |
7 |
|
|
|
|
$16,500 |
5.00 |
% |
Raffles Shipping International Pte. Ltd. |
13-Apr-22 |
6-Jun-22 |
1,8 |
|
|
2013 87,150 |
|
|
|
|
|
|
|
19 |
|
PHAIDRA |
E |
$28,000 |
5.00 |
% |
Uniper Global Commodities SE, Düsseldorf |
2-Sep-21 |
1-Jul-22 - 15-Sep-22 |
|
|
|
2013 87,146 |
|
|
|
|
|
|
|
|
|
12 Capesize Bulk Carriers |
20 |
|
ALIKI |
|
$20,500 |
5.00 |
% |
Solebay Shipping Cape Company Limited, Hong Kong |
18-Mar-21 |
21-Feb-22 |
|
|
|
|
|
$24,500 |
5.00 |
% |
Koch Shipping Pte. Ltd., Singapore |
21-Feb-22 |
1-Feb-23 - 15-Apr-23 |
|
|
|
2005 180,235 |
|
|
|
|
|
|
|
21 |
|
BALTIMORE |
|
$10,500 |
5.00 |
% |
Trafigura Maritime Logistics Pte. Ltd. |
8-Feb-22 |
8-Apr-22 |
9 |
|
|
|
|
$16,000 |
5.00 |
% |
Solebay Shipping Cape Company Limited, Hong Kong |
8-Apr-22 |
27-Jun-22 - 17-Jul-22 |
10 |
|
|
2005 177,243 |
|
|
|
|
|
|
|
22 |
|
SEMIRIO |
F |
$19,700 |
5.00 |
% |
C Transport Maritime Ltd., Bermuda |
15-Dec-21 |
15-Aug-23 - 15-Nov-23 |
|
|
|
2007 174,261 |
|
|
|
|
|
|
|
23 |
|
BOSTON |
F |
$25,500 |
5.00 |
% |
C Transport Maritime Ltd., Bermuda |
16-Jun-21 |
20-Apr-22 |
|
|
|
|
|
$13,000 |
5.00 |
% |
Richland Bulk Pte. Ltd. |
20-Apr-22 |
30-May-22 |
11 |
|
|
2007 177,828 |
|
|
|
|
|
|
|
24 |
|
HOUSTON |
F |
$27,000 |
5.00 |
% |
Koch Shipping Pte. Ltd., Singapore |
30-Aug-21 |
15-Jul-22 - 15-Oct-22 |
|
|
|
2009 177,729 |
|
|
|
|
|
|
|
25 |
|
NEW
YORK |
F |
$14,000 |
5.00 |
% |
EGPN Bulk Carrier Co., Limited, Hong Kong |
29-Dec-20 |
4-Jun-22 - 3-Jul-22 |
1 |
|
|
2010 177,773 |
|
|
|
|
|
|
|
26 |
|
SEATTLE |
G |
$12,300 |
5.00 |
% |
Pacbulk Shipping Pte. Ltd., Singapore |
27-Apr-20 |
2-Mar-22 |
|
|
|
|
|
$26,500 |
5.00 |
% |
Solebay Shipping Cape Company Limited, Hong Kong |
2-Mar-22 |
1-Oct-23 - 15-Dec-23 |
|
|
|
2011 179,362 |
|
|
|
|
|
|
|
27 |
|
P. S. PALIOS |
G |
$26,500 |
4.75 |
% |
Olam International Limited, Singapore |
5-Jun-21 |
23-Apr-22 |
12,13 |
|
|
|
|
$31,000 |
5.00 |
% |
Classic Maritime Inc. |
11-Jun-22 |
15-Apr-24 - 30-Jun-24 |
3 |
|
|
2013 179,134 |
|
|
|
|
|
|
|
28 |
|
G. P. ZAFIRAKIS |
H |
$22,750 |
4.75 |
% |
Cargill International S.A., Geneva |
1-Dec-21 |
1-Nov-22 - 31-Dec-22 |
|
|
|
2014 179,492 |
|
|
|
|
|
|
|
29 |
|
SANTA BARBARA |
H |
$17,250 |
4.75 |
% |
Cargill International S.A., Geneva |
9-Jan-21 |
19-Mar-22 |
14 |
|
|
|
|
$29,500 |
4.75 |
% |
19-Mar-22 |
10-May-23 - 10-Jul-23 |
|
|
|
2015 179,426 |
|
|
|
|
|
|
|
30 |
|
NEW ORLEANS |
|
$15,500 |
5.00 |
% |
Nippon Yusen Kabushiki Kaisha |
3-Dec-20 |
25-Mar-22 |
|
|
|
|
|
$32,000 |
5.00 |
% |
Engelhart CTP Freight (Switzerland) SA |
25-Mar-22 |
20-Nov-23 - 31-Jan-24 |
|
|
|
2015 180,960 |
|
|
|
|
|
|
|
31 |
|
FLORIDA |
|
$25,900 |
5.00 |
% |
Bunge S.A., Geneva |
29-Mar-22 |
29-Jan-27 - 29-May-27 |
15 |
|
|
2022 182,063 |
|
|
|
|
|
|
|
|
|
4 Newcastlemax Bulk Carriers |
32 |
|
LOS ANGELES |
I |
$26,250 |
5.00 |
% |
Koch Shipping Pte. Ltd., Singapore |
30-Jan-22 |
15-Jan-23 - 15-Mar-23 |
16 |
|
|
2012 206,104 |
|
|
|
|
|
|
|
33 |
|
PHILADELPHIA |
I |
$28,500 |
5.00 |
% |
Classic Maritime Inc. |
22-Apr-21 |
7-Mar-22 |
17 |
|
|
|
|
$26,000 |
5.00 |
% |
C Transport Maritime Ltd., Bermuda |
12-Apr-22 |
1-Feb-24 - 15-Apr-24 |
|
|
|
2012 206,040 |
|
|
|
|
|
|
|
34 |
|
SAN
FRANCISCO |
J |
$24,700 |
5.00 |
% |
Olam International Limited, Singapore |
11-Feb-21 |
18-Feb-22 |
18 |
|
|
|
|
$30,500 |
5.00 |
% |
Koch Shipping Pte. Ltd., Singapore |
18-Feb-22 |
1-Mar-23 - 15-May-23 |
|
|
|
2017 208,006 |
|
|
|
|
|
|
|
35 |
|
NEWPORT NEWS |
J |
$28,000 |
5.00 |
% |
Koch Shipping Pte. Ltd., Singapore |
16-Dec-21 |
1-Jul-23 - 30-Sep-23 |
19 |
|
|
2017 208,021 |
|
|
|
|
|
|
|
* Each dry bulk
carrier is a “sister ship”, or closely similar, to other dry bulk
carriers that have the same letter. |
** Total
commission percentage paid to third parties. |
*** In case of
newly acquired vessel with time charter attached, this date refers
to the expected/actual date of delivery of the vessel to the
Company. |
**** Range of
redelivery dates, with the actual date of redelivery being at the
Charterers’ option, but subject to the terms, conditions, and
exceptions of the particular charterparty. |
|
1Based on
latest information. |
2Expected
redelivery date from the charterers. |
3Expected
delivery date to the charterers. |
4Vessel on
scheduled drydocking from December 28, 2021 to January 30,
2022. |
5Vessel was
delivered to the Company on February 16, 2022. |
6Charterers
agreed to compensate the owners, for all the days over and above
the new maximum redelivery date (January 13, 2022), with hire rate
equal to the average of Baltic Panamax 82 Index 5TC weighted time
charter average plus 15% or vessel’s present Charter Party rate,
whichever is higher. |
7Charterers
agreed to compensate the owners, for all the days over and above
the maximum redelivery date (April 10, 2022), with hire rate equal
to the average of Baltic Panamax Index 5TC weighted time charter
average minus 10% or vessel’s present Charter Party rate, whichever
is higher. |
8For two laden
legs of maximum duration up to June 30, 2022. |
9Charter
included a one time ballast bonus payment of US$1,000,000. |
10Redelivery
date based on an estimated time charter trip duration of about
80-100 days. |
11Redelivery
date based on an estimated time charter trip duration of about 41
days. |
12Charterers
agreed to compensate the owners, for all the days over and above
the maximum redelivery date (April 15, 2022), with hire rate equal
to the average of Baltic Cape Index 5TC weighted time charter
average plus 10% or vessel’s present Charter Party rate, whichever
is higher. |
13Currently
without an active charterparty. Vessel on scheduled
drydocking. |
14Charterers
agreed to compensate the owners, for all the days over and above
the maximum redelivery date (March 5, 2022), with hire rate equal
to the average of Baltic Cape Index 5TC weighted time charter
average plus 23% or vessel’s present Charter Party rate, whichever
is higher. |
15Bareboat
chartered-in for a period of ten years at US$13,500 per
day. |
16Vessel on
scheduled drydocking from December 23, 2021 to January 30,
2022. |
17Vessel on
scheduled drydocking from March 7, 2022 to April 12, 2022. |
18The charter
rate was US$17,750 per day for the first one hundred five (105)
days of the charter period. |
19Vessel on
scheduled drydocking from February 4, 2022 to March 2, 2022. |
Summary of
Selected Financial & Other Data (unaudited) |
|
|
|
Three months ended March 31, |
|
|
|
2022 |
|
|
2021 |
|
|
|
|
|
|
|
STATEMENT
OF OPERATIONS DATA (in thousands of US Dollars) |
|
Revenues |
$ |
65,933 |
|
$ |
41,051 |
|
|
Voyage expenses |
|
1,714 |
|
|
1,780 |
|
|
Vessel operating expenses |
|
16,428 |
|
|
18,552 |
|
|
Net income/(loss) and
Comprehensive Income/(Loss) |
|
26,044 |
|
|
(1,295 |
) |
|
Net Income/(Loss) and
Comprehensive Income/(Loss), Attributable to Common
Shareholders |
|
24,602 |
|
|
(2,737 |
) |
FLEET DATA |
|
Average number of vessels |
|
33.5 |
|
|
38.2 |
|
|
Number of vessels |
|
35.0 |
|
|
37.0 |
|
|
Weighted average age of
vessels |
|
10.2 |
|
|
10.1 |
|
|
Ownership days |
|
3,017 |
|
|
3,434 |
|
|
Available days |
|
2,906 |
|
|
3,434 |
|
|
Operating days |
|
2,860 |
|
|
3,387 |
|
|
Fleet utilization |
|
98.4 |
% |
|
98.6 |
% |
AVERAGE
DAILY RESULTS |
|
Time charter equivalent (TCE)
rate (1) |
$ |
22,099 |
|
$ |
11,436 |
|
|
Daily vessel operating
expenses (2) |
$ |
5,445 |
|
$ |
5,402 |
|
Non-GAAP Measures
(1) |
Time charter equivalent rates, or TCE rates, are defined as our
time charter revenues less voyage expenses during a period divided
by the number of our available days during the period, which is
consistent with industry standards. Voyage expenses include port
charges, bunker (fuel) expenses, canal charges and commissions. TCE
is a non-GAAP measure. TCE rate is a standard shipping industry
performance measure used primarily to compare daily earnings
generated by vessels on time charters with daily earnings generated
by vessels on voyage charters, because charter hire rates for
vessels on voyage charters are generally not expressed in per day
amounts while charter hire rates for vessels on time charters are
generally expressed in such amounts. |
|
|
|
|
(2) |
Daily vessel operating expenses, which include crew wages and
related costs, the cost of insurance, expenses relating to repairs
and maintenance, the costs of spares and consumable stores, tonnage
taxes and other miscellaneous expenses, are calculated by dividing
vessel operating expenses by ownership days for the relevant
period. |
|
Conference Call and Webcast
Information
The Company’s management will conduct a
conference call and simultaneous Internet webcast to review these
results at 9:00 A.M. (Eastern Time) on Tuesday, May 24, 2022.
Investors may access the webcast by visiting the
Company’s website at www.dianashippinginc.com, and clicking on the
webcast link. An accompanying investor presentation also will be
available via the webcast link and on the Company’s website. The
conference call also may be accessed by telephone by dialing
1-877-407-8291 (for U.S.-based callers) or 1-201-689-8345 (for
international callers), and asking the operator for the Diana
Shipping Inc. conference call.
A replay of the webcast will be available soon
after the completion of the call and will be accessible for 30 days
on www.dianashippinginc.com. A telephone replay also will be
available for 30 days by dialing 1-877-660-6853 (for U.S.-based
callers) or 1-201-612-7415 (for international callers), and
providing the Replay ID number 13729890.
About the Company
Diana Shipping Inc. is a global provider of
shipping transportation services through its ownership and bareboat
charter-in of dry bulk vessels. The Company’s vessels are employed
primarily on medium to long-term time charters and transport a
range of dry bulk cargoes, including such commodities as iron ore,
coal, grain and other materials along worldwide shipping
routes.
Cautionary Statement Regarding Forward-Looking
Statements
Matters discussed in this press release may
constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts.
The Company desires to take advantage of the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 and is including this cautionary statement in
connection with this safe harbor legislation. The words “believe,”
“anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,”
“potential,” “may,” “should,” “expect,” “pending” and similar
expressions identify forward-looking statements.
The forward-looking statements in this press
release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without
limitation, Company management’s examination of historical
operating trends, data contained in the Company’s records and other
data available from third parties. Although the Company believes
that these assumptions were reasonable when made, because these
assumptions are inherently subject to significant uncertainties and
contingencies that are difficult or impossible to predict and are
beyond the Company’s control, the Company cannot assure you that it
will achieve or accomplish these expectations, beliefs or
projections.
In addition to these important factors, other
important factors that, in the Company’s view, could cause actual
results to differ materially from those discussed in the
forward-looking statements include the severity, magnitude and
duration of the COVID-19 pandemic, including impacts of the
pandemic and of businesses’ and governments’ responses to the
pandemic on our operations, personnel, and on the demand for
seaborne transportation of bulk products; the strength of world
economies and currencies, general market conditions, including
fluctuations in charter rates and vessel values, changes in demand
for dry bulk shipping capacity, changes in the Company’s operating
expenses, including bunker prices, drydocking and insurance costs,
the market for the Company’s vessels, availability of financing and
refinancing, changes in governmental rules and regulations or
actions taken by regulatory authorities, potential liability from
pending or future litigation, general domestic and international
political conditions, including risks associated with the
continuing conflict between Russia and Ukraine and related
sanctions, potential disruption of shipping routes due to accidents
or political events, vessel breakdowns and instances of off-hires
and other factors. Please see the Company’s filings with the U.S.
Securities and Exchange Commission for a more complete discussion
of these and other risks and uncertainties. The Company undertakes
no obligation to revise or update any forward-looking statement, or
to make any other forward-looking statements, whether as a result
of new information, future events or otherwise.
(See financial tables attached)
DIANA SHIPPING INC. |
FINANCIAL TABLES |
Expressed in thousands of U.S. Dollars, except share and per share
data |
|
|
|
|
|
|
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE INCOME/(LOSS) |
|
|
|
Three months ended March 31, |
|
|
|
2022 |
|
|
2021 |
|
REVENUES: |
|
|
|
|
|
Revenues |
$ |
65,933 |
|
$ |
41,051 |
|
|
|
|
|
|
|
OPERATING
EXPENSES |
|
|
|
|
|
Voyage Expenses |
|
1,714 |
|
|
1,780 |
|
|
Vessel Operating Expenses |
|
16,428 |
|
|
18,552 |
|
|
Depreciation and Amortization
of Deferred Charges |
|
9,792 |
|
|
10,049 |
|
|
General and Administrative
Expenses |
|
7,059 |
|
|
6,697 |
|
|
Management Fees to Related
Party |
|
117 |
|
|
449 |
|
|
Loss on Sale of Vessels |
|
- |
|
|
206 |
|
|
Other Operating Income |
|
(240 |
) |
|
(106 |
) |
|
Operating Income,
Total |
$ |
31,063 |
|
$ |
3,424 |
|
|
|
|
|
|
|
OTHER
INCOME / (EXPENSES): |
|
|
|
|
|
Interest Expense and Finance
Costs |
|
(5,222 |
) |
|
(4,636 |
) |
|
Interest and Other Income |
|
238 |
|
|
28 |
|
|
Loss from Equity Method
Investments |
|
(35 |
) |
|
(111 |
) |
|
Total Other Expenses,
Net |
$ |
(5,019 |
) |
$ |
(4,719 |
) |
|
|
|
|
|
|
Net
income/(loss) and Comprehensive Income/(Loss) |
$ |
26,044 |
|
$ |
(1,295 |
) |
Dividends on
series B preferred shares |
|
(1,442 |
) |
|
(1,442 |
) |
Net
Income/(Loss) and Comprehensive Income/(Loss), Attributable to
Common Shareholders |
|
24,602 |
|
|
(2,737 |
) |
Earnings/(Loss) Per Common Share, Basic |
$ |
0.32 |
|
$ |
(0.03 |
) |
|
|
|
|
|
|
Earnings/(Loss) Per Common Share, Diluted |
$ |
0.31 |
|
$ |
(0.03 |
) |
Weighted
Average Number of Common Shares Outstanding, Basic |
|
76,336,785 |
|
|
83,572,221 |
|
|
|
|
|
|
|
Weighted
Average Number of Common Shares Outstanding, Diluted |
|
78,786,949 |
|
|
83,572,221 |
|
CONDENSED CONSOLIDATED BALANCE SHEET DATA |
|
|
(in thousands of
U.S. Dollars) |
|
|
|
|
|
|
|
|
|
|
|
March 31, 2022 |
|
December 31, 2021* |
ASSETS |
|
(unaudited) |
|
|
|
|
|
|
|
|
Cash and Cash Equivalents and Restricted Cash |
$ |
115,682 |
$ |
126,788 |
Other current assets |
|
19,036 |
|
15,357 |
Total Fixed Assets |
|
744,395 |
|
682,579 |
Investments in Related Parties |
|
7,744 |
|
7,644 |
Other Noncurrent Assets |
|
11,149 |
|
9,582 |
|
Total assets |
$ |
898,006 |
$ |
841,950 |
|
|
|
|
|
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
Long-Term Debt and Lease Obligation, net of Deferred Financing
Costs |
$ |
463,411 |
$ |
423,675 |
Other Liabilities |
|
31,991 |
|
25,080 |
Total Stockholders' Equity |
|
402,604 |
|
393,195 |
|
Total Liabilities and Equity |
$ |
898,006 |
$ |
841,950 |
|
|
|
|
|
|
* The
balance sheet data have been derived from the audited consolidated
financial statements at that date. |
OTHER
FINANCIAL DATA (unaudited) |
|
|
|
Three months ended March 31, |
|
|
|
2022 |
|
|
2021 |
|
|
|
|
|
|
|
Net cash provided by operating activities |
$ |
37,100 |
|
$ |
6,419 |
|
Net cash provided by/(used in) investing activities |
|
(21,302 |
) |
|
22,558 |
|
Net cash used in financing activities |
$ |
(26,904 |
) |
$ |
(25,851 |
) |
Corporate Contact:
Ioannis Zafirakis
Director, Chief Financial Officer, Chief Strategy Officer, Treasurer and Secretary
Telephone: + 30-210-9470100
Email: izafirakis@dianashippinginc.com
Website: www.dianashippinginc.com
Twitter: @Dianaship
Investor and Media Relations:
Edward Nebb
Comm-Counsellors, LLC
Telephone: + 1-203-972-8350
Email: enebb@optonline.net
Diana Shipping (NYSE:DSX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Diana Shipping (NYSE:DSX)
Historical Stock Chart
From Jul 2023 to Jul 2024