Diana Containerships Reports 4Q Loss

By Aiswarya Lakshmi
Wednesday, March 02, 2016
Hanjin Malta. Photo: Diana Containerships Inc.

 The Athens, Greece-based  global shipping company specializing in the ownership of containerships Diana Containerships Inc. has reported a loss of $8.8 million in its fourth quarter of 2015, compared to net income of $0.9 million for the respective period of 2014. 

 
The loss for the fourth quarter was mainly the result of $6.6 million of impairment charges of the vessel Hanjin Malta, without which the result for the fourth quarter of 2015 would have been a net loss of $2.2 million.
 
The shipping company posted revenue of $14.9 million in the period.
 
For the year, the company reported a loss of $17.5 million, or 24 cents per share, swinging to a loss in the period. Revenue was reported as $62.2 million.
 
Time charter revenues, net of prepaid charter revenue amortization, for the year ended December 31, 2015, amounted to $62.2 million, compared to $54.1 million for 2014.
 

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