Diana Shipping (DSX) 2007年年度报告「NYSE」.pdf

1、ANNUAL REPORT 2007 Our Competitive Strengths We believe that we possess a number of strengths that provide us with a competitive advantage in the dry bulk shipping industry:We own a modern,high quality fleet of dry bulk carriers.Our fleet includes four groups of sister ships.We manage our vessel ope

2、rations internally.We benefit from strong relationships with members of the shipping and financial industries.We have a strong balance sheet and a relatively low level of indebtedness.Our Business StrategyOur main objective is to manage and expand our fleet in a manner that enables us to pay attract

3、ive dividends to our stockholders.To accomplish this objective,we intend to:Continue to operate a high quality fleet.Strategically expand the size of our fleet.Pursue an appropriate balance of short-term and long-term time charters.Maintain a strong balance sheet with conservative leverage.Maintain

4、low cost,highly efficient operations.Capitalize on our established reputation.2 ANNUAL REPORT 2007 DIANA SHIPPING INC.2007 ANNUAL REPORT LETTER TO SHAREHOLDERSANNUAL REPORT 2007 To Our Shareholders:It is my pleasure to report to you on Diana Shipping Inc.s record results for the year 2007.We believe

5、 that our unprecedented performance is a testimony to the companys well-defined strategy and its meticulous implementation of that strategy.Throughout the years,this strategy has revolved around building a young,high-quality fleet,managing charter policy to respond to market trends,and using financi

6、al resources to enhance shareholder value.As a result,Diana Shipping can pride itself on producing its best year yet in terms of net income,fleet size,and dividends paid to shareholders.Our most striking accomplishment in 2007 was our 20%growth in net income,which rose to$2.4 million from$6.million