Diana Containerships Changes to Performance Shipping

Maritime Activity Reports, Inc.

February 25, 2019

Pic: Diana Containerships

Pic: Diana Containerships

The global shipping company specializing in the ownership of containerships has announced that it is changing its name to Performance Shipping with immediate effect.

Greek containership company also said that its common shares will continue to trade on the Nasdaq Global Select Market under the ticker “DCIX”.

Meanwhile it reported a net loss of $0.4 million for the fourth quarter of 2018, compared to a net loss of $16.6 million for the same period of 2017. The loss for the fourth quarter of 2018 includes $0.3 million of impairment charges for one vessel, while the loss for the fourth quarter of 2017 includes impairment losses of $8.4 million for two vessels.

Time charter revenues were $6.1 million for the fourth quarter of 2018, compared to $7.8 million for the same period of 2017. This decrease was primarily due to the decrease in size of the Company’s fleet, and was partially offset by the increased time charter rates achieved as a result of improved market conditions.

Net loss for the year ended December 31, 2018 amounted to $52.9 million, compared to a net income of $3.8 million for the year ended December 31, 2017. The loss for the year ended December 31, 2018 includes $20.7 million of impairment charges of two vessels and $16.7 million of aggregate loss on sale of seven vessels.

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