By Anastasia Vamvaka
Diana Shipping’s revenue growth in the second quarter of 2022 was impressive. Time charter revenue was $74.5 million for the second quarter of 2022, compared to $47 million for the same quarter of 2021, an increase of 58, 51%.
Paleos-based Diana Shipping, which specializes in dry bulk cargo ships, announced net income of $35.6m, up 1,171.43% from 2021 where, in the corresponding quarter, profits were 2.8 million dollars.
The increase in time charter revenue was due to the increased average charter prices achieved by the company for its vessels. This increase was partially offset by lower revenues due to a reduction in fleet size, due to the transfer of vessels to the spin-off company OceanPal to which the older vessels were transferred, and increased charter days during the quarter compared to the same quarter last year.
Net income for the six months ended June 30, 2022 was $61.6 million and revenue was $140.5 million for the six months, compared to $88.1 million for the same period in 2021.
Dividend
The company declared a dividend on its common stock of $0.275 per share, based on the results of operations during the second quarter ended June 30, 2022. The cash dividend will be paid on August 19, 2022. The company currently has 86,142,258 common stock outstanding. shares issued and in circulation.
Source: Capital
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