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.
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.
