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Wednesday, February 22, 2017

Diana Containerships Reports 4Q Loss

February 13, 2017

Photo: Diana Containerships Inc

Photo: Diana Containerships Inc

 Greece-based Diana Containerships (DCIX) has reported a net loss of $8.5 million for the fourth quarter of 2016, compared to a net loss of $8.8 million for the respective period of 2015. 

 
On a per-share basis, the company said it had a loss of 92 cents. Losses, adjusted for non-recurring costs, were 66 cents per share.
 
The loss for the fourth quarter of 2016 includes $2.4 million of direct sale and other charges associated with the disposal of one vessel, without which the result for the quarter would have been a net loss of $6.1 million.
 
The loss for the fourth quarter of 2015 includes $6.6 million of impairment charges of one vessel, without which the result for the quarter would have been a net loss of $2.2 million.
 
The shipping company posted revenue of $5.4 million in the period.
 
Net loss for the year ended December 31, 2016, amounted to $149.0 million, compared to a net loss of $17.5 million for the year ended December 31, 2015. 
 
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