What Investors Should Know about Diana Shipping’s 4Q Earnings



Fourth quarter earnings

Diana Shipping (DSX) is a global shipping company. It specializes in dry bulk vessel ownership. It reported the results of its fourth quarter earnings on March 4, 2015. Since then, the company’s stock price recorded a 6.9% dip. In the same period, other companies including DryShips (DRYS), Navios Maritime Holdings (NM), Safe Bulkers (SB), and Navios Maritime Partners (NMM) recorded -10.8%, 1.7%, -0.3%, and -24.8% growth in their stock price, respectively.

The iShares S&P 500 Index ETF (IVV) invests in sectors like consumer non-cyclical, financial, energy, technology, communications, industrial, consumer cyclical, basic materials, and utilities.

In this series, we’ll discuss the company’s revenue and net income. We’ll also discuss the company’s equities, debt, and share repurchase plan. We’ll take a look at the company’s time charter contracts after its reported the earnings.

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Diana fleet

Diana Shipping’s vessels are employed primarily on medium to long-term time charters. They transport a range of dry bulk cargo including commodities—like iron ore, coal, and grain—and other materials along worldwide shipping routes.

As of March 9, 2015, Diana Shipping’s fleet consisted of 40 dry bulk vessels—two Newcastlemax, 12 Capesize, three Post-Panamax, three Kamsarmax, and 20 Panamax. The company also expects to take delivery of two newbuilding Newcastlemax dry bulk vessels and one newbuilding Kamsarmax dry bulk vessel during 2Q16.

The fleet’s combined carrying capacity, excluding the three vessels not delivered yet, is ~4.6 million DWT (deadweight tonnage). Its weighted average age is 6.96 years.


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