Greece-based Diana Shipping inc. (DSX) has reported a loss of $436.9 million in its fourth quarter. The net loss attributed to common stockholders of $438.4 million for the fourth quarter of 2017, including a $422.5 million impairment loss.
Time charter revenues were $48.9 million for the fourth quarter of 2017, compared to $28.0 million for the same quarter of 2016.
The increase in time charter revenues was due to increased average time charter rates achieved for the Company’s vessels during the quarter and increased revenues resulting from the enlargement of the fleet.
For the year, the company reported that its loss widened to $511.7 million, or $5.41 per share. Revenue was reported as $153.3 million.