Joseph Bonney, Senior Editor | Aug 01, 2012 9:08AM EDT
Container ship owner-charterer Diana Containerships Inc. reported second quarter net income of $2.2 million, compared with a net loss of $600,000 a year earlier, as an expanded fleet boosted time-charter revenue.
Time-charter revenue increased to $14.9 million from $4.2 million in the second quarter of 2011, mainly due to the delivery of the Maersk Merlion, Maersk Malacca and Maersk Madrid in June 2011, and the the Cap San Marco, Cap San Raphael, APL Sardonyx and APL Spinel in February and March 2012.
Net income for the first half of the year was $4.1 million, compared with a net loss of $400,000 a yer earlier. Time-charter revenues for the six months rose to 427.4 million from $7.5 million.
Separately, Diana said a subsidiary has entered a time-charter contract with CMA CGM for the Centaurus, which has a capacity of 3,426 20-foot-equivalent units.
Contact Joseph Bonney at jbonney@joc.com. Follow him on Twitter @josephbonney.