Diana Shipping Inc., listed on the US stock exchange, reported significant profits and revenues on an annual basis as well as in the fourth quarter of 2024.
The company’s fleet employment strategy focuses on time charters and not on the spot market.
In particular, the company’s net profits, which specialize in owning and chartering dry cargo ships, amounted to 12.7 million dollars in 2024 and net profits attributable to common shareholders to 7.0 million dollars.
This compares to net profits of 49.8 million dollars and net profits attributable to common shareholders of 44.1 million dollars in 2023.
Time charter revenues amounted to 228.2 million dollars in 2024, compared to 262.1 million dollars in 2023.
Earnings per share stood at 0.06 dollars, compared to earnings per share of 0.44 last year.
For the fourth quarter of last year, the company’s net income was 9.7 million dollars and net income attributable to common shareholders was 8.3 million.
Time charter revenue totaled 57.1 million dollars in the fourth quarter of 2024, compared to 60.0 million dollars in the same quarter of 2023.
The decrease in time charter revenue, compared to the same quarter of the previous year, is due to a decrease in days of ownership.
Dividend Distribution
Diana Shipping Inc. announced a cash dividend on its common stock of 0.01 dollars per share, based on the company’s results for the fourth quarter ended December 31, 2024.
Fleet
Diana Shipping’s fleet consists of 38 dry bulk carriers, of which 9 Ultramax Bulk Carriers, 6 Panamax Bulk Carriers, 6 Kamsarmax Bulk Carriers, 5 Post-Panamax Bulk Carriers, 8 Capesize Bulk Carriers and 4 Newcastlemax Bulk Carriers.
The company is expected to deliver two new dual-fuel methanol vessels.
