Bruce Barnard, Special Correspondent | Feb 23, 2012 10:27AM EST
Diana Containerships booked a profit of $1.3 million in the fourth quarter of 2011 against a year-earlier loss of $15,600, and the Greek shipowner forecasts an improved performance in 2012 because of an expanded fleet.
The Nasdaq-listed company’s time-charter revenue almost tripled to $9.8 million from $3.3 million, mainly because of the delivery of three ships in June. Full-year profit totaled $3.2 million compared with a $2 million net loss in 2010 as revenue surged to $27 million from $5.7 million.
Future results will be boosted by the addition of four ships at the beginning of 2012, said CEO Simeon Palios. Diana Containerships operates nine vessels — ranging in capacity from 3,426 20-foot equivalent units to 4,729 TEUs— on charter to Maersk Line, CSAV, APL and Germany’s Reederei Santa Containerschiffe.
-- Contact Bruce Barnard at brucebarnard47@hotmail.com.
