Diana Shipping(US:DSX) Globenewswire·2026-02-26 12:22Core Viewpoint - Diana Shipping Inc. reported a decline in net income and time charter revenues for the fourth quarter of 2025 compared to the same period in 2024, primarily due to the sale of two vessels and increased drydocking days affecting fleet availability [1][2][3]. Financial Performance - The net income for the fourth quarter of 2025 was $3.1 million, down from $9.7 million in the fourth quarter of 2024. Net income attributable to common stockholders was $1.7 million compared to $8.3 million in the same quarter of 2024 [1]. - For the full year 2025, net income was $17.8 million, an increase from $12.7 million in 2024. Net income attributable to common stockholders rose to $12.1 million from $7.0 million in 2024 [3]. - Earnings per share for the fourth quarter of 2025 were $0.02, down from $0.07 in the fourth quarter of 2024. For the full year 2025, earnings per share were $0.11, compared to $0.06 in 2024 [1][3]. Revenue and Expenses - Time charter revenues for the fourth quarter of 2025 were $52.1 million, a decrease from $57.1 million in the same quarter of 2024. For the full year 2025, time charter revenues totaled $213.5 million, down from $228.2 million in 2024 [2][3]. - Voyage expenses for the fourth quarter of 2025 were $3.1 million, slightly lower than $3.5 million in the fourth quarter of 2024. Vessel operating expenses increased to $20.3 million from $19.2 million in the same period [14]. Dividend Declaration - The Company declared a cash dividend of $0.01 per share, payable on March 18, 2026, to shareholders of record as of March 11, 2026 [4]. Fleet and Employment - As of February 25, 2026, the Company operated a fleet of 36 vessels, with an average age of 12.1 years. The fleet utilization rate was reported at 100% for the fourth quarter of 2025 [14]. - The average daily time charter equivalent (TCE) rate for the fourth quarter of 2025 was $15,397, compared to $15,589 in the fourth quarter of 2024 [14].