JOC Staff | Nov 20, 2012 3:21PM EST
Greece-based ship owner and charterer Diana Shipping on Tuesday reported third quarter income of $12.3 million, down 53.4 percent from $26.4 million in the same quarter last year.
Quarterly time-charter revenue was $56.2 million, down 12.5 percent year-over-year, mainly because of reduced time-charter rates, the company said.
Year-to-date, profit was $49.6 million, down 43.2 percent in the first three quarters of last year. Time-charter revenue in the January-September period was $171.4 million, down 13.6 percent from $198.3 million year-over-year.