Monday, November 15, 2010

Diana Shipping Inc. - Earnings Estimate For 2010 Q3

For the quarter ended Sep 30th 2010, we forecast that Diana Shipping Inc. (NYSE: DSX) generated net income of $33.5 million, or $0.42 basic earnings per common share, on revenues of $71.5 million. We estimate that as of Sep 30th, 2010 the company had a total capitalization of $1.46 billion, long-term debt of $325.9 million and a debt to capitalization ratio of 22%, the lowest among its publicly traded peers.

DSX ended the quarter with approximately $320 million cash in hand to fund operations and its remaining capital expenditures.

As of Sep 30th, 2010 the company was operating a modern diversified fleet of 22 dry cargo vessels (consisting of 14 panamax size vessels and 8 cape size vessels) and two (capacity 3,400 TEU) container ships.

The company has agreed to purchase a 2010-built post-panamax vessel scheduled for delivery in Nov 2010. It also has two specialized cape size vessels on order, scheduled for delivery in 2012.

Monday, November 8, 2010

Eagle Bulk Shipping Inc. - Earnings Estimate For 2010 Q3

For the quarter ended September 30th 2010, we forecast that Eagle Bulk Shipping Inc. (NASDAQ: EGLE) generated basic earnings per common share of $0.07 on net income of $4,500,000. Its net TCE revenues for the quarter were approximately $63,100,000.

Wednesday, November 3, 2010

Genco Shipping & Trading Limited - Earnings Estimate For 2010 Q3


For the quarter ended September 30th 2010, we forecast that Genco Shipping & Trading (NYSE: GNK) generated basic earnings per common share of $1.04 on consolidated net income of $35,300,000. Its net TCE revenues for the quarter on a consolidated basis were approximately $113,000,000.

As of September 30th 2010, the company’s total debt on a fully consolidated basis stood at $1,755,500. Excluding the debt of the company's subsidiary Baltic Trading Limited (NYSE: BALT), GNK's total debt stood at $1,685,500,000.