Joseph Bonney, Senior Editor | May 02, 2012 10:29AM EDT
Owner-charterer Diana Containerships said its first quarter net profit jumped to $1.9 million from $300,000 a year earlier, mainly due to the addition of seven ships since last June.
Charter revenue was $12.4 million in the first quarter, compared with $3.2 million a year earlier. Diana took delivery of the Maersk Merlion, Maersk Malacca and Maersk Madrid last June and the Cap San Marco, Cap San Raphael, APL Sardonyx and APL Spinel in February and March of this year.
The Athens-based company declared a 25-cent-a-share cash dividend. CEO Symeon Palios said the company expects its dividend potential to increase with earnings generated by the additional ships.
Diana has nine ships with capacities ranging from 3,426 to 4,729 TEUs.
Contact Joseph Bonney at jbonney@joc.com. Follow him on Twitter @josephbonney.
