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Diana Shipping Q4 profit misses mkt view; shares fall
Greek dry-bulk carrier Diana Shipping Inc (DSX.N: Quote, Profile, Research) posted higher quarter results helped by higher freight rates, but missed market expectations, sending its shares down more than 5 percent.

The company said quarterly average daily time charter equivalent rate, a measure of vessel hire rates, increased about 44 percent to $36,459 per day, from last year.

The company reported quarterly net income available to common stockholders of $36.4 million, or 49 cents a share, compared with $19.4 million, or 37 cents per share, in the year-ago quarter.

Quarterly voyage and time charter revenues increased about 67.3 percent to $58.9 million.

Analysts on average had expected earnings of 52 cents per share, before items, on revenue of $58.7 million, according to Reuters Estimates.

The results come after the company's peers Dryships Inc (DRYS.O: Quote, Profile, Research) and Genco Shipping & Trading Ltd (GNK.N: Quote, Profile, Research) posted quarterly results that beat Wall Street estimates helped by higher freight rates.

Diana Shipping shares were trading down $1.70 at $29.40 in morning trade on the New York Stock Exchange.
http://www.reuters.com/article/marketsNews/idUSBNG32955820080215