Diana Shipping Q1 profit down 39 percent
Diana Shipping Inc's quarterly profit fell 39 percent as the Greek drybulk carrier continues to be hit by low rates, Reuters reports. Time charter revenue fell 17 percent in the first quarter to $57.6 million. Profit fell to $20 million, or 25 cents per share, from $33.1 million, or 41 cents per share, a year ago. The company's container shipping unit Diana Containerships Inc had posted a strong first quarter on Wednesday and raised its quarterly dividend by 67 percent. Diana Shipping shares, which have shed about one-third of their value in the last one year, closed at $7.98 on Tuesday on the New York Stock exchange.