Diana Shipping (DSX) 2010年年度报告「NYSE」.pdf

1、 ANNUAL REPORT 010 ANNUAL REPORT 2010 1 ANNUAL REPORT 2010 page.indd 115/4/2011 8:48:10 ANNUAL REPORT 2010 1DIANA SHIPPING INC.2010 ANNUAL REPORT 2 ANNUAL REPORT 2010 DIANA SHIPPING INC.2010 ANNUAL REPORT LETTER TO SHAREHOLDERSANNUAL REPORT 2010 To Our Shareholders:I am pleased to report that Diana

2、Shipping Inc.made progress both in our near-term fi-nancial performance and longer-term growth strategy during 2010.We delivered increased profitability over 2009 despite unsettled conditions in the global economy and the dry bulk shipping market.At the same time,we continued our determined efforts

3、to acquire additional vessels to expand our long-term revenue-generating capacity.We have maintained relation-ships with high quality charterers to help ensure the continued employment of our fleet with reliable partners.And we entered into a milestone loan agreement with The Export-Import Bank of C

4、hina that has significantly broadened the financial resources available to support our future growth.Financial Performance.Our focus on expanding our fleet,while maintaining a balanced and productive time charter strategy,resulted in net income to Diana Shipping of$128.8 mil-lion for 2010,an increas

5、e from the$121.5 million we reported for 2009.Time charter revenues rose to$275.4 million for 2010,from$239.3 million for 2009,primarily due to the growth of our fleet and our participation in Diana Containerships Inc.We continue to believe that a solid balance sheet is both a buffer against potenti

6、al eco-nomic turbulence and a means of supporting our growth strategy.Our cash position at De-cember 31,2010 was a record$345.4 million and Diana Shipping continued to operate with substantially less leverage than many of our peers.Long-term debt,including the current portion,was$383.6 million at th