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 $35.6 million and
net income attributed to common stockholders of $34.2 million for
the second quarter of 2022. This compares to net income of $2.8
million and net income attributed to common stockholders of $1.4
million for the second quarter of 2021. Earnings per share for the
second quarter of 2022 was $0.44 basic and $0.42 diluted, compared
to earnings per share of $0.02 basic and diluted in the same
quarter of 2021.
Time charter revenues were $74.5 million for the
second quarter of 2022, compared to $47.0 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 revenues due to the decrease in the size of the fleet and
increased off hire days during the quarter compared to the same
quarter last year.
Net income for the six months ended June 30,
2022, amounted to $61.6 million and net income attributed to common
stockholders amounted to $58.8 million. This compares to net income
of $1.5 million and net loss attributed to common stockholders of
$1.4 million for the same period of 2021. Time charter revenues
were $140.5 million for the six months ended June 30, 2022,
compared to $88.1 million for the same period of 2021.
Dividend Declaration
The Company has declared a cash dividend on its
common stock of $0.275 per share, based on the Company’s results of
operations during the second quarter ended June 30, 2022. The cash
dividend will be payable on or about August 19, 2022 to all
shareholders of record as of August 8, 2022. The Company currently
has 86,142,258 common shares issued and outstanding.
Fleet Employment (As of July 27, 2022) |
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VESSEL |
SISTER
SHIPS* |
GROSS RATE
(USD PER DAY) |
COM** |
CHARTERERS |
DELIVERY
DATE TO CHARTERERS*** |
REDELIVERY
DATE TO OWNERS**** |
NOTES |
|
BUILT DWT |
8 Panamax Bulk Carriers |
1 |
MELIA |
|
25,750 |
5.00 |
% |
Viterra Chartering B.V., Rotterdam |
11-Jun-21 |
28/May/2022 |
1 |
|
2005 76,225 |
|
20,000 |
5.00 |
% |
Oldendorff GmbH & Co. KG |
28-May-22 |
23/Aug/2022 |
2 |
ARTEMIS |
|
21,250 |
4.75 |
% |
Cargill International S.A., Geneva |
21-Mar-22 |
20/Jun/2023-20/Aug/2023 |
|
|
2006 76,942 |
|
|
|
|
|
|
|
3 |
LETO |
|
25,500 |
4.75 |
% |
Aquavita International S.A. |
03-Oct-21 |
1/Feb/2023 - 15/Apr/2023 |
|
|
2010 81,297 |
|
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|
4 |
SELINA |
A |
26,500 |
5.00 |
% |
ASL Bulk Shipping HK Limited |
02-Sep-21 |
18/Jun/2022 |
|
|
2010 75,700 |
|
22,000 |
5.00 |
% |
Speed Logistics Marine Limited |
18-Jun-22 |
15/Apr/2023-20/Jun/2023 |
|
5 |
MAERA |
A |
26,000 |
5.00 |
% |
ASL Bulk Shipping HK Limited |
18-Sep-21 |
1/Oct/2022 - 15/Dec/2022 |
|
|
2013 75,403 |
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6 |
ISMENE |
|
18,500 |
4.75 |
% |
Cargill International S.A., Geneva |
23-Nov-21 |
15/Dec/2022 - 15/Feb/2023 |
|
|
2013 77,901 |
|
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|
7 |
CRYSTALIA |
B |
26,100 |
5.00 |
% |
Uniper Global Commodities SE, Dusseldorf |
21-Sep-21 |
1/Oct/2022 - 15/Dec/2022 |
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|
2014 77,525 |
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8 |
ATALANDI |
B |
24,500 |
4.75 |
% |
Aquavita International S.A. |
05-Oct-21 |
15/Feb/2023 - 30/Apr/2023 |
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|
2014 77,529 |
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6 Kamsarmax Bulk Carriers |
9 |
MAIA |
C |
25,000 |
5.00 |
% |
Viterra Chartering B.V., Rotterdam |
20-Jun-21 |
24/May/2022 |
|
|
2009 82,193 |
|
25,000 |
5.00 |
% |
Hyundai Glovis Co. Ltd. |
24-May-22 |
20/Sep/2023 - 20/Nov/2023 |
|
10 |
MYRSINI |
C |
22,000 |
4.75 |
% |
Cargill International S.A., Geneva |
15-Nov-21 |
1/Dec/2022 - 31/Jan/2023 |
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2010 82,117 |
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11 |
MEDUSA |
C |
26,000 |
4.75 |
% |
Cargill International S.A., Geneva |
09-Mar-22 |
15/May/2023-15/Jul/2023 |
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2010 82,194 |
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12 |
MYRTO |
C |
28,500 |
5.00 |
% |
Solebay Shipping Transocean Company Limited |
10-Sep-21 |
15/Aug/2022 - 15/Oct/2022 |
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2013 82,131 |
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13 |
ASTARTE |
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21,500 |
5.00 |
% |
Tongli Shipping Pte. Ltd. |
30-Jan-22 |
15/Apr/2023 - 15/Jun/2023 |
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2013 81,513 |
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14 |
LEONIDAS P. C. |
|
24,500 |
4.75 |
% |
Cargill International S.A., Geneva |
18-Feb-22 |
1/Mar/2023-30/Apr/2023 |
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|
2011 82,165 |
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5 Post-Panamax Bulk Carriers |
15 |
ALCMENE |
|
17,100 |
5.00 |
% |
SwissMarine Pte. Ltd., Singapore |
25-Nov-21 |
20/Dec/2022 - 5/Mar/2023 |
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2010 93,193 |
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16 |
AMPHITRITE |
D |
27,000 |
5.00 |
% |
BG Shipping Co., Limited, Hong Kong |
13-Sep-21 |
15/Oct/2022 - 15/Dec/2022 |
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2012 98,697 |
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17 |
POLYMNIA |
D |
24,750 |
5.00 |
% |
CLdN Cobelfret SA, Luxembourg |
04-Feb-22 |
15/Jan/2023-15/Mar/2023 |
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2012 98,704 |
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18 |
ELECTRA |
E |
21,000 |
5.00 |
% |
Tongli Shipping Pte. Ltd. |
28-Apr-21 |
13/Apr/2022 |
2 |
|
2013 87,150 |
|
16,500 |
5.00 |
% |
Raffles
Shipping International Pte. Ltd. |
13-Apr-22 |
7/Jun/2022 |
3 |
|
|
17,500 |
5.00 |
% |
Refined Success Limited |
02-Jul-22 |
1/Apr/2023 - 30/May/2023 |
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19 |
PHAIDRA |
E |
28,000 |
5.00 |
% |
Uniper Global Commodities SE, Düsseldorf |
02-Sep-21 |
1/Aug/2022 - 25/Aug/2022 |
4 |
|
2013 87,146 |
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12 Capesize Bulk Carriers |
20 |
ALIKI |
|
24,500 |
5.00 |
% |
Koch Shipping Pte. Ltd., Singapore |
21-Feb-22 |
1/Feb/2023 - 15/Apr/2023 |
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|
2005 180,235 |
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|
21 |
BALTIMORE |
|
10,500 |
5.00 |
% |
Trafigura Maritime Logistics Pte. Ltd. |
08-Feb-22 |
8/Apr/2022 |
5 |
|
2005 177,243 |
|
16,000 |
5.00 |
% |
Solebay Shipping Cape Company Limited, Hong Kong |
08-Apr-22 |
11/Jul/2022 |
6,7 |
22 |
SEMIRIO |
F |
19,700 |
5.00 |
% |
C Transport Maritime Ltd., Bermuda |
15-Dec-21 |
15/Aug/2023 - 15/Nov/2023 |
8 |
|
2007 174,261 |
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|
|
23 |
BOSTON |
F |
25,500 |
5.00 |
% |
C Transport Maritime Ltd., Bermuda |
16-Jun-21 |
20/Apr/2022 |
9 |
|
2007 177,828 |
|
13,000 |
5.00 |
% |
Richland
Bulk Pte. Ltd. |
20-Apr-22 |
28/May/2022 |
|
|
20,500 |
5.00 |
% |
Aquavita International S.A. |
15-Jul-22 |
1/Apr/2023 - 31/May/2023 |
24 |
HOUSTON |
F |
27,000 |
5.00 |
% |
Koch Shipping Pte. Ltd., Singapore |
30-Aug-21 |
5/Aug/2022 - 15/Oct/2022 |
4 |
|
2009 177,729 |
|
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25 |
NEW YORK |
F |
14,000 |
5.00 |
% |
EGPN Bulk Carrier Co., Limited, Hong Kong |
29-Dec-20 |
2/Jul/2022 |
|
|
2010 177,773 |
|
23,000 |
5.00 |
% |
C Transport Maritime Ltd., Bermuda |
02-Jul-22 |
10/Jun/2023 - 25/Aug/2023 |
|
26 |
SEATTLE |
G |
26,500 |
5.00 |
% |
Solebay Shipping Cape Company Limited, Hong Kong |
02-Mar-22 |
1/Oct/2023-15/Dec/2023 |
|
|
2011 179,362 |
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27 |
P. S. PALIOS |
G |
26,500 |
4.75 |
% |
Olam International Limited, Singapore |
05-Jun-21 |
23/Apr/2022 |
10 |
|
2013 179,134 |
|
31,000 |
5.00 |
% |
Classic Maritime Inc. |
11-Jun-22 |
15/Apr/2024-30/Jun/2024 |
|
28 |
G. P. ZAFIRAKIS |
H |
22,750 |
4.75 |
% |
Cargill International S.A., Geneva |
01-Dec-21 |
1/Nov/2022 - 31/Dec/2022 |
|
|
2014 179,492 |
|
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29 |
SANTA BARBARA |
H |
29,500 |
4.75 |
% |
Cargill International S.A., Geneva |
19-Mar-22 |
10/May/2023-10/Jul/2023 |
|
|
2015 179,426 |
|
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|
|
30 |
NEW ORLEANS |
|
32,000 |
5.00 |
% |
Engelhart CTP Freight (Switzerland) SA |
25-Mar-22 |
20/Nov/2023-31/Jan/2024 |
|
|
2015 180,960 |
|
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31 |
FLORIDA |
|
25,900 |
5.00 |
% |
Bunge S.A., Geneva |
29-Mar-22 |
29/Jan/2027-29/May/2027 |
11 |
|
2022 182,063 |
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|
4 Newcastlemax Bulk Carriers |
32 |
LOS ANGELES |
I |
26,250 |
5.00 |
% |
Koch Shipping Pte. Ltd., Singapore |
30-Jan-22 |
15/Jan/2023-15/Mar/2023 |
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|
2012 206,104 |
|
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33 |
PHILADELPHIA |
I |
26,000 |
5.00 |
% |
C Transport Maritime Ltd., Bermuda |
12-Apr-22 |
1/Feb/2024-15/Apr/2024 |
12 |
|
2012 206,040 |
|
|
|
|
|
|
|
34 |
SAN FRANCISCO |
J |
30,500 |
5.00 |
% |
Koch Shipping Pte. Ltd., Singapore |
18-Feb-22 |
1/Mar/2023-15/May/2023 |
|
|
2017 208,006 |
|
|
|
|
|
|
|
35 |
NEWPORT NEWS |
J |
28,000 |
5.00 |
% |
Koch Shipping Pte. Ltd., Singapore |
16-Dec-21 |
1/Jul/2023 - 30/Sep/2023 |
|
|
2017 208,021 |
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* 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. |
|
1 Redelivery date
based on an estimated time charter trip duration of about 87
days. |
2 Charterers 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. |
3 Vessel on scheduled
drydocking from June 7, 2022 to July 2, 2022. |
4 Based on latest
information. |
5 Charter included a
one time ballast bonus payment of US$1,000,000. |
6 Currently without an
active charterparty. Vessel on scheduled drydocking. |
7 Vessel sold and
expected to be delivered to her new owners in the third quarter of
2022. |
8 Vessel currently off
hire for drydocking. |
9 Vessel on scheduled
drydocking from May 28, 2022 to July 15, 2022. |
10 Charterers 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. |
11 Bareboat
chartered-in for a period of ten years at US$13,500 per
day. |
12 Vessel on scheduled
drydocking from March 7, 2022 to April 12, 2022. |
Summary of
Selected Financial & Other Data (unaudited) |
|
|
|
Three months
ended June 30, |
|
For the six
months ended June 30, |
|
|
|
2022 |
|
2021 |
|
2022 |
|
2021 |
|
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|
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|
STATEMENT OF
OPERATIONS DATA (in thousands of US Dollars) |
|
Time Charter Revenues |
$ |
74,522 |
|
$ |
47,023 |
|
$ |
140,456 |
|
$ |
88,074 |
|
|
Voyage
Expenses |
|
(1,051 |
) |
|
2,292 |
|
|
663 |
|
|
4,072 |
|
|
Vessel
Operating Expenses |
|
18,394 |
|
|
19,179 |
|
|
34,822 |
|
|
37,731 |
|
|
Net
Income |
|
35,606 |
|
|
2,815 |
|
|
61,649 |
|
|
1,520 |
|
|
Net
Income/(Loss) Attributable to Common Stockholders |
|
34,164 |
|
|
1,373 |
|
|
58,765 |
|
|
(1,364 |
) |
FLEET
DATA |
|
Average
number of vessels |
|
35.0 |
|
|
37.0 |
|
|
34.3 |
|
|
37.6 |
|
|
Number of
vessels |
|
35.0 |
|
|
37.0 |
|
|
35.0 |
|
|
37.0 |
|
|
Weighted
average age of vessels |
|
10.4 |
|
|
10.4 |
|
|
10.4 |
|
|
10.4 |
|
|
Ownership
days |
|
3,185 |
|
|
3,367 |
|
|
6,202 |
|
|
6,801 |
|
|
Available
days |
|
3,068 |
|
|
3,319 |
|
|
5,974 |
|
|
6,753 |
|
|
Operating
days |
|
3,059 |
|
|
3,305 |
|
|
5,919 |
|
|
6,692 |
|
|
Fleet
utilization |
|
99.7 |
% |
|
99.6 |
% |
|
99.1 |
% |
|
99.1 |
% |
AVERAGE DAILY
RESULTS |
|
Time charter
equivalent (TCE) rate (1) |
$ |
24,633 |
|
$ |
13,477 |
|
$ |
23,400 |
|
$ |
12,439 |
|
|
Daily vessel
operating expenses (2) |
$ |
5,775 |
|
$ |
5,696 |
|
$ |
5,615 |
|
$ |
5,548 |
|
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 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 Thursday, July 28, 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 13731381.
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 short to medium-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 |
|
|
|
Three months
ended June 30, |
|
For the six
months ended June 30, |
|
|
|
2022 |
|
2021 |
|
2022 |
|
2021 |
REVENUES: |
|
|
|
|
|
|
|
|
|
Time Charter Revenues |
$ |
74,522 |
|
$ |
47,023 |
|
$ |
140,456 |
|
$ |
88,074 |
|
OPERATING EXPENSES: |
|
|
|
|
|
|
|
|
|
Voyage
Expenses |
|
(1,051 |
) |
|
2,292 |
|
|
663 |
|
|
4,072 |
|
|
Vessel
Operating Expenses |
|
18,394 |
|
|
19,179 |
|
|
34,822 |
|
|
37,731 |
|
|
Depreciation
and Amortization of Deferred Charges |
|
10,665 |
|
|
10,092 |
|
|
20,457 |
|
|
20,141 |
|
|
General and
Administrative Expenses |
|
7,888 |
|
|
7,211 |
|
|
14,947 |
|
|
13,909 |
|
|
Management
Fees to Related Party |
|
111 |
|
|
405 |
|
|
228 |
|
|
854 |
|
|
Loss/(Gain)
on Sale of Vessels |
|
- |
|
|
(2 |
) |
|
- |
|
|
203 |
|
|
Insurance
Recoveries |
|
(1,471 |
) |
|
- |
|
|
(1,789 |
) |
|
- |
|
|
Other
Operating (Income)/Loss |
|
(420 |
) |
|
102 |
|
|
(341 |
) |
|
(4 |
) |
|
Operating Income, Total |
$ |
40,406 |
|
$ |
7,744 |
|
$ |
71,469 |
|
$ |
11,168 |
|
|
|
|
|
|
|
|
|
|
|
OTHER INCOME / (EXPENSES): |
|
|
|
|
|
|
|
|
|
Interest
Expense and Finance Costs |
|
(5,986 |
) |
|
(4,706 |
) |
|
(11,209 |
) |
|
(9,342 |
) |
|
Interest and
Other Income |
|
385 |
|
|
22 |
|
|
622 |
|
|
50 |
|
|
Loss on
Extinguishment of Debt |
|
- |
|
|
(158 |
) |
|
- |
|
|
(158 |
) |
|
Gain/(Loss)
from Equity Method Investments |
|
801 |
|
|
(87 |
) |
|
767 |
|
|
(198 |
) |
|
Total Other Expenses, Net |
$ |
(4,800 |
) |
$ |
(4,929 |
) |
$ |
(9,820 |
) |
$ |
(9,648 |
) |
|
|
|
|
|
|
|
|
|
|
Net Income |
$ |
35,606 |
|
$ |
2,815 |
|
$ |
61,649 |
|
$ |
1,520 |
|
Dividends on series B preferred shares |
|
(1,442 |
) |
|
(1,442 |
) |
|
(2,884 |
) |
|
(2,884 |
) |
Net Income/(Loss) Attributable to Common
Stockholders |
|
34,164 |
|
|
1,373 |
|
|
58,765 |
|
|
(1,364 |
) |
Earnings/(Loss) Per Common Share, Basic |
$ |
0.44 |
|
$ |
0.02 |
|
$ |
0.76 |
|
$ |
(0.02 |
) |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss) Per Common Share, Diluted |
$ |
0.42 |
|
$ |
0.02 |
|
$ |
0.73 |
|
$ |
(0.02 |
) |
Weighted Average Number of Common Shares Outstanding,
Basic |
|
78,339,851 |
|
|
82,020,353 |
|
|
77,343,851 |
|
|
82,792,000 |
|
|
|
|
|
|
|
|
|
|
|
Weighted Average Number of Common Shares Outstanding,
Diluted |
|
81,918,389 |
|
|
85,576,754 |
|
|
80,308,679 |
|
|
82,792,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months
ended June 30, |
|
For the six
months ended June 30, |
|
|
|
2022 |
|
2021 |
|
2022 |
|
2021 |
|
|
|
|
|
|
|
|
|
|
Net Income |
$ |
35,606 |
|
$ |
2,815 |
|
$ |
61,649 |
|
$ |
1,520 |
|
Other comprehensive income (Actuarial income) |
|
- |
|
|
- |
|
|
1 |
|
|
- |
|
Comprehensive Income |
$ |
35,606 |
|
$ |
2,815 |
|
$ |
61,650 |
|
$ |
1,520 |
|
CONDENSED
CONSOLIDATED BALANCE SHEET DATA |
|
|
(in thousands of U.S. Dollars) |
|
|
|
|
|
|
|
|
|
|
|
June 30, 2022 |
|
December 31, 2021* |
ASSETS |
|
(unaudited) |
|
|
|
|
|
|
|
|
Cash and Cash
Equivalents and Restricted Cash |
$ |
130,342 |
$ |
126,788 |
Other Current
Assets |
|
34,797 |
|
15,357 |
Fixed Assets |
|
720,347 |
|
682,579 |
Investments in
Related Parties |
|
8,122 |
|
7,644 |
Other Noncurrent
Assets |
|
15,309 |
|
9,582 |
|
Total assets |
$ |
908,917 |
$ |
841,950 |
|
|
|
|
|
|
LIABILITIES
AND EQUITY |
|
|
|
|
|
|
|
|
|
|
Long-Term Debt and
Lease Obligation, net of Deferred Financing Costs |
$ |
451,718 |
$ |
423,675 |
Other
Liabilities |
|
35,094 |
|
25,080 |
Total Stockholders'
Equity |
|
422,105 |
|
393,195 |
|
Total Liabilities and Stockholders' Equity |
$ |
908,917 |
$ |
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 June 30, |
|
For the six
months ended June 30, |
|
|
|
2022 |
|
2021 |
|
2022 |
|
2021 |
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities |
$ |
43,737 |
|
$ |
21,023 |
|
$ |
80,837 |
|
$ |
27,442 |
Net cash provided
by/(used in) investing activities |
|
2,533 |
|
|
(483 |
) |
|
(18,769 |
) |
|
22,075 |
Net cash provided
by/(used in) financing activities |
$ |
(31,610 |
) |
$ |
48,420 |
|
$ |
(58,514 |
) |
$ |
22,569 |
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
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