— Diana Shipping Inc. (NYSE: DSX) reported a fourth-quarter 2019 loss of $0.17 per share versus a profit of $0.02 per share expected.
— Time charter revenues fell by 18% to $51.5 million versus $50.52 million expected. This was due to the sale of two vessels in December 2018 and six vessels in 2019 as well as decreased average time charter rates that it achieved for its vessels.
— The average number of vessels decreased to 42.6 from 49.5 in the prior-year quarter. However, the weighted average age of vessels rose to 9.5 from 9.1 a year ago.
— Fleet utilization for the fourth quarter declined to 96.9% from 99.1% in the previous year quarter.
— Time charter equivalent rate decreased to $12,264 from $13,527 a year earlier. However, the daily vessel operating expenses rose to $5,969 from $5,536 a year ago.
— Long-term debt as of December 30, 2019, was $474.95 million while cash and cash equivalents stood at $107.29 million.
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