Diana Containerships reported a net loss of $5.0 million in the second quarter of 2013, compared with a net profit of $2.2 million in the respective period in 2012.
The loss in the second quarter was mainly the result of $4.3 million of direct sale and other charges associated with the disposal of three vessels, according to the Marshalls Island-based container ship owner and operator. Without those associated charges, results for the second quarter would have been a net loss of $0.7 million.
Revenue from time charters was $12.2 million in the second quarter, compared with $14.9 million in the same period in 2012. The year-over-year loss was driven by the decrease of the average time charter rates achieved in 2013 versus 2012, as well as the disposal of the vessels Madrid, Malacca and Merlion, although those were partially offset by the revenue from the APL Garnet, delivered in November 2012, and the Hanjin Malta, delivered in March 2013.
In the first six months of 2013, the company reported a net loss of $36.8 million, down from a net profit of $4.1 million in the same period last year. Revenue from time charters was $27.4 million in the first half of 2013, basically flat year-over-year.