New York Stock Exchange-listed Diana said the loss of $64.7m for last year compared to a loss of $10.3m in 2014.
In the fourth quarter of 2015 the company sank $22.5m into the red against a net loss of $6.2m in the same period a year earlier. Charter revenues also contracted to $38.3m in Q4 2015 down from $46.1m in the same period a year earlier.
“The decrease in time charter revenues was mainly due to decreased time charter rates in the quarter and was partly offset by revenues derived from the increase in ownership days resulting from the enlargement of our fleet,” the company said.
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