Diana Containerships Inc (NASDAQ: DCIX) shares ballooned Friday on reporting a Q3 loss of $128.67 per share on sales of $6.73 million.
Time charter revenues, rang in at $8.0 million for the same period of 2016, mainly due to the sale of the vessels Angeles in November 2016 and Doukato in June 2017. This decrease was counterbalanced by the increase of revenues generated by the improvement of the Company’s fleet utilization and the decrease of off-hire days in the third quarter of 2017 compared to the same period of 2016.
The Athens-based company says the loss for the third quarter of 2016 reflected the result of impairment charges for seven of the Company’s vessels.
On November 2, Diana Containerships Inc. which is a subsidiary of Diana Shipping Inc. (NYSE:DSX), completed a one-for-seven reverse stock split, leaving approximately 757,000 shares outstanding.
Diana Containerships Inc. is a global provider of shipping transportation services through its ownership of containerships. The Company’s vessels are employed primarily on time charters with leading liner companies carrying containerized cargo along worldwide shipping routes.
The Company’s vessels are employed primarily on time charters with leading liner companies carrying containerized cargo along worldwide shipping routes.
Shares opened Friday up $8.02, or 121.4%, to $14.62
