ATHENS, GREECE, February 22, 2011 – Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the transportation of dry bulk cargoes, today reported net income of $32.3 million for the fourth quarter of 2010, compared to net income of $27.6 million reported in the fourth quarter of 2009.
Time charter revenues were $73.0 million for the fourth quarter of 2010, compared to $58.6 million for the same period of 2009, mainly due to the addition to the Company’s fleet of the vessels m/v Melite, m/v New York and m/v Alcmene, delivered in January, March and November 2010, respectively, and the participation of the Company in Diana Containerships Inc., which was a majority-owned subsidiary during the fourth quarter 2010.
Net income to Diana Shipping Inc. for 2010 amounted to $128.8 million, compared to net income of $121.5 million for 2009. Time charter revenues were $275.4 million for 2010, compared to $239.3 million for 2009…
