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Diamond S Shipping reported a net loss of $9.7 million or $0.24 per share for Q3 2020, an improvement from a $25.9 million loss in Q3 2019. Adjusted EBITDA stood at $27.1 million. The company plans to sell the 2009-built vessel Atlantic Mirage for approximately $7 million. Total net debt is $611.1 million, and free liquidity is $124.3 million. Revenue decreased to $79.7 million, with $29.4 million from the Crude Fleet and $50.3 million from the Product Fleet. Future tanker market conditions remain uncertain but expected to remain pressured due to global pandemic impacts.
Diamond S Shipping Inc. (NYSE: DSSI) will release its third quarter 2020 earnings on November 16, 2020, before market opening. An investor conference call is scheduled for the same day at 8:00 AM ET. Interested parties can join via US Dial-In +1 866 211-4137 or International Dial-In +1 647 689-6723, using Conference ID 6646328. The call will be webcast live on the company’s website, with an audio replay available until November 23, 2020. Diamond S operates 66 vessels, including Suezmax, Aframax, and MR product tankers, specializing in seaborne transportation of crude oil and refined products.
