Diana Containerships, which owns containerships and charters them to liner operators, said it had a profit of $1.9 million for the first quarter of 2012, compared to a net income of $300,000 for the same period of 2011.
Time charter revenues were $12.4 million for the first quarter of 2012, compared to $3.2 million for the same period of 2011, mainly due to the increase in the number of vessels in its fleet.
Following delivery of two ships in February and March, the company now has a fleet of nine containerships which are employed by liner companies Maersk, APL, CSAV, and Hamburg Süd. It had an average of seven ships on charter in the first quarter of 2012, compared to two in the first quarter of 2011.
Diana earnings lifted by expanded fleet
