Greek dry bulk shipping specialist Diana Shipping managed to more than halve the annual net loss from USD 21.2 million reported in 2013, to USD 10.3m in 2014.
The majority of the 2014 net loss was recorded in the fourth quarter, which the company ended USD 6.2m in the red, which was still an improvement compared to USD 9.6m net loss accumulated in the same period a year earlier.
The improved results are attributed to a rise in the annual time charter revenues from USD 164m in 2013 to 175.6m in 2014. This increase was mainly due to the increase in ownership days resulting from the enlargement of our fleet, and was partly offset by decreased time charter rates.
Effective March 4, 2015, the company’s Board of Directors has increased its size from seven to nine members and has appointed Kyriacos Riris and Semiramis Paliou to fill the resulting vacancies.
Source: http://worldmaritimenews.com
