Diana Shipping Inc. (NYSE:DSX) Q3 2019 Earnings Conference Call - Final Transcript
Dec 02, 2019 • 09:00 am ET
to $67.2 million, compared to $70.3 million for the same period last year. The decrease in operating expenses was due to the decrease in operating days and was partly offset by increased operating expenses in all categories except from taxes. Daily operating expenses in 2019 were $5,367, compared to $5,150 for 2018, representing a 4% increase. Depreciation and amortization of deferred charges amounted to $36.8 million. General and administrative expenses increased to $20.8 million, compared to $20.5 million for the same period of 2018 mainly due to increased payroll costs and officers and directors insurance and was partly offset by bonus taxes. Management fees
To related party were $1.6 million, compared to $1.8 million in 2018 due to the decreased number of managed vessels by Diana Wilhelmsen. Interest and finance costs amounted to $22.7 million, compared to $21.5 million last year. This increase was attributable to increased average interest rates compared to last year, while average debt decreased. Interest and other income amounted to $2.3 million, compared to $8 million for the same period last year. This decrease was due to the repayment of the loan by Performance Shipping Inc., including a $5 million discount premium.
Thank you for your attention. We would be pleased to respond to your questions, and I will turn the call to the operator, who will instruct you as to the procedure for asking questions.