Diana Shipping Inc. (NYSE:DSX) Q3 2019 Earnings Conference Call - Preliminary Transcript

Dec 02, 2019 • 09:00 am ET

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Diana Shipping Inc. (NYSE:DSX) Q3 2019 Earnings Conference Call - Preliminary Transcript

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Presentation
Executive
Andreas Michalopoulos

same period of 2018 and the daily time charter equivalent rate was $12,961 compared to $11,736 last year, we had voyage expenses were $9.1 million vessel operating expenses amounted 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 in was partly offset by increased operating expenses in all categories except from taxes daily.

Operating expenses in 2019 were $5,367 compared to $550 -- $5150 for 2018 representing a 4% increase.

Depreciation and amortization of deferred charges amounted to $36.8 million general administrative expenses increased to $20.8 million compared to $20.5 million for the same period of 2018, mainly due to increased payroll cost and officers and directors insurance and was partly offset 9 bonus taxes management fees

Executive
Anastasios Margaronis

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 at 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