FORM 6-K

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16
OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2020
Commission File Number:  001-32458

DIANA SHIPPING INC.
(Translation of registrant's name into English)
Pendelis 16, 175 64 Palaio Faliro, Athens, Greece
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F [X]       Form 40-F [  ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [  ].

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [  ].

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.






INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Attached to this Report on Form 6-K as Exhibit 99.1 is a press release dated May 14, 2020 of Diana Shipping Inc. (the "Company") announcing the Company’s financial results for the first quarter ended March 31, 2020.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


 
DIANA SHIPPING INC.
 
(registrant)
   
   
Dated: May 14, 2020
By:
/s/ Ioannis Zafirakis
   
Ioannis Zafirakis
   
Interim Chief Financial Officer
     
     





Exhibit 99.1

 
Corporate Contact:
 
Ioannis Zafirakis
 
Director, Interim Chief Financial Officer, Chief Strategy Officer, Treasurer and Secretary
 
Telephone: + 30-210-9470100
 
Email: izafirakis@dianashippinginc.com
 
Website: www.dianashippinginc.com
For Immediate Release
 
 
Investor and Media Relations:
 
Edward Nebb
 
Comm-Counsellors, LLC
 
Telephone: + 1-203-972-8350
 
Email: enebb@optonline.net


DIANA SHIPPING INC. REPORTS FINANCIAL RESULTS
FOR THE FIRST QUARTER ENDED MARCH 31, 2020

ATHENS, GREECE, May 14, 2020 – Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today reported a net loss and net loss attributed to common stockholders of $102.8 million and $104.3 million for the first quarter of 2020, including a $93.1 million impairment loss. This compares to net income of $3.0 million and net income attributed to common stockholders of $1.5 million reported in the first quarter of 2019, including a $4.8 million impairment loss. Loss per share for the first quarter of 2020 was $1.21 compared to earnings per share of $0.02 for the same period in 2019. Adjusted loss per share, excluding impairment loss, was $0.13 for the quarter compared to adjusted earnings per share of $0.07 for the same quarter last year.
Time charter revenues were $43.8 million for the first quarter of 2020, compared to $60.3 million for the same period of 2019. The decrease in time charter revenues was due to decreased average time charter rates that the Company achieved for its vessels during the quarter and decreased revenues due to the sale of one vessel in the first quarter of 2020 and six vessels in 2019.

1


 
Fleet Employment Profile (As of May 13, 2020)
 
Diana Shipping Inc.’s fleet is employed as follows:
 
Vessel
Sister Ships*
Gross Rate (USD Per Day)
Com**
Charterers
Delivery Date to Charterers***
Redelivery Date to Owners****
Notes
 
BUILT    DWT
                 
 
14 Panamax Bulk Carriers
1
OCEANIS
 
$10,350
5.00%
Ausca Shipping Limited, Hong Kong
16-Nov-18
9-Jan-20
 
     
$9,200
5.00%
Phaethon International Company AG
9-Jan-20
9-Jan-21 - 24-Mar-21
 
 
2001    75,211
             
2
PROTEFS
A
$9,900
5.00%
Phaethon International Company AG
30-Nov-19
1-Jan-21 - 31-Mar-21
1
 
2004    73,630
             
3
CALIPSO
A
$15,400
5.00%
Crystal Sea Shipping Co., Limited
1-Nov-19
2-Mar-20
2
     
$4,750
5.00%
Uniper Global Commodities SE, Düsseldorf
13-Apr-20
28-May-20
 
     
$8,250
5.00%
28-May-20
15-Oct-20 - 31-Dec-20
 
 
2005    73,691
             
4
NAIAS
A
$10,000
5.00%
Phaethon International Company AG
26-Jan-19
26-Dec-20 - 10-Apr-21
 
 
2006    73,546
             
5
ARETHUSA
A
$9,150
5.00%
Ausca Shipping Limited, Hong Kong
2-May-19
20-May-20 - 1-Jun-20
3
 
2007     73,593
             
6
CORONIS
 
$5,300
5.00%
Tongli Shipping Pte. Ltd.
3-Jan-20
5-Feb-20
4
     
$8,000
5.00%
Koch Shipping Pte. Ltd., Singapore
20-Feb-20
5-Nov-20 - 4-Jan-21
 
 
2006    74,381
             
7
MELIA
 
$10,750
5.00%
Cargill International S.A., Geneva
13-Feb-20
28-Apr-20
5,6
 
2005     76,225
             
8
ARTEMIS
 
$10,150
5.00%
Koch Shipping Pte. Ltd., Singapore
28-Nov-19
13-Aug-20 - 28-Oct-20
 
 
2006     76,942
             
9
LETO
 
$13,000
5.00%
Uniper Global Commodities SE, Düsseldorf
31-May-19
20-May-20 - 1-Jun-20
3,7
 
2010     81,297
             
10
SELINA
B
$11,750
5.00%
Ausca Shipping Limited, Hong Kong
15-Jul-19
15-Feb-20
8
     
$6,500
5.00%
Daelim Corporation
26-Feb-20
21-Mar-20
 
     
$4,750
4.75%
Cargill International S.A., Geneva
27-Mar-20
21-May-20
9
 
2010     75,700
             
11
MAERA
B
$9,450
5.00%
Glencore Agriculture B.V., Rotterdam
27-Mar-19
26-May-20 - 10-Jul-20
3
 
2013     75,403
             
12
ISMENE
 
$12,125
5.00%
Koch Shipping Pte. Ltd., Singapore
12-Dec-18
10-Jan-20
 
     
$10,800
5.00%
Phaethon International Company AG
10-Jan-20
10-Feb-21 - 25-Apr-21
 
 
2013     77,901
             
13
CRYSTALIA
C
$10,500
5.00%
Glencore Agriculture B.V., Rotterdam
2-Mar-19
23-May-20 - 1-Jul-20
3
 
2014    77,525
             
14
ATALANDI
C
$12,250
5.00%
Uniper Global Commodities SE, Düsseldorf
9-Jul-19
9-Jun-20 - 24-Aug-20
 
 
2014    77,529
             
2


 
5 Kamsarmax Bulk Carriers
15
MAIA
D
$13,300
5.00%
Glencore Agriculture B.V., Rotterdam
12-Nov-18
31-Jan-20
 
     
$11,200
5.00%
Aquavita International S.A.
31-Jan-20
31-Mar-21 - 15-Jun-21
 
 
2009     82,193
             
16
MYRSINI
D
$11,500
5.00%
Ausca Shipping Limited, Hong Kong
4-Dec-19
4-Jan-21 - 19-Mar-21
10
 
2010     82,117
             
17
MEDUSA
D
$11,000
4.75%
Cargill International S.A., Geneva
16-Nov-19
1-Oct-20 - 16-Dec-20
 
 
2010     82,194
             
18
MYRTO
D
$14,000
4.75%
Cargill International S.A., Geneva
18-Jul-19
3-Apr-20
 
     
$10,000
4.75%
3-Apr-20
1-Jul-21 - 15-Sep-21
 
 
2013     82,131
             
19
ASTARTE
 
$14,250
5.00%
Glencore Agriculture B.V., Rotterdam
16-Oct-18
18-Jan-20
 
     
$11,750
5.00%
Aquavita International S.A.
18-Jan-20
18-Mar-21 - 2-Jun-21
 
 
2013     81,513
             
 
5 Post-Panamax Bulk Carriers
20
ALCMENE
 
$9,500
5.00%
Oriental Bulk Shipping PTE. LTD
16-Nov-19
10-Jan-20
11
     
$4,000
4.75%
Cargill International S.A., Geneva
2-Apr-20
1-Jun-20
 
     
$8,500
4.75%
1-Jun-20
17-Apr-21 - 2-Jul-21
 
 
2010     93,193
             
21
AMPHITRITE
E
$12,750
5.00%
Uniper Global Commodities SE, Düsseldorf
27-Jan-19
21-Mar-20
 
     
$10,250
5.00%
SwissMarine Pte. Ltd., Singapore
21-Mar-20
6-Apr-21 - 21-Jun-21
 
 
2012     98,697
             
22
POLYMNIA
E
$11,000
4.75%
Cargill International S.A., Geneva
15-Nov-19
15-Oct-20 - 30-Dec-20
 
 
2012    98,704
             
23
ELECTRA
F
$10,250
5.00%
Oldendorff Carriers GMBH & Co. KG, Lübeck
21-Nov-19
21-Oct-20 - 21-Dec-20
 
 
2013    87,150
             
24
PHAIDRA
F
$10,800
5.00%
Uniper Global Commodities SE, Düsseldorf
11-Apr-19
27-May-20 - 26-Aug-20
 
 
2013    87,146
             
 
13 Capesize Bulk Carriers
-
NORFOLK
 
$17,750
5.00%
Koch Shipping Pte. Ltd., Singapore
2-Nov-19
20-Feb-20
12
 
2002    164,218
             
25
ALIKI
 
$18,000
5.00%
SwissMarine Services S.A., Geneva
9-Apr-18
23-Jan-20
13
     
$11,300
5.00%
Koch Shipping Pte. Ltd., Singapore
23-Apr-20
1-Jan-21 - 15-Mar-21
 
 
2005    180,235
             
26
BALTIMORE
 
$15,000
5.00%
Koch Shipping Pte. Ltd., Singapore
19-May-19
4-Dec-20 - 3-Apr-21
14
 
2005    177,243
             
3


27
SALT LAKE CITY
 
$9,750
4.75%
Cargill International S.A., Geneva
24-Mar-19
24-Nov-20 - 24-Feb-21
 
 
2005    171,810
             
28
SIDERIS GS
G
$15,350
5.00%
Berge Bulk Shipping Pte. Ltd., Singapore
15-Dec-18
7-Mar-20
 
     
$12,700
5.00%
Oldendorff Carriers GMBH & Co. KG, Lübeck, Germany
7-Mar-20
15-Oct-20 - 31-Dec-20
 
 
2006    174,186
             
29
SEMIRIO
G
$16,000
4.75%
Cargill International S.A., Geneva
30-Jun-19
30-Sep-20 - 30-Dec-20
 
 
2007    174,261
             
30
BOSTON
G
$15,300
5.00%
Oldendorff Carriers GMBH & Co. KG, Lübeck, Germany
7-Jun-19
1-Apr-21 - 30-Jun-21
 
 
2007    177,828
             
31
HOUSTON
G
$10,125
5.00%
Koch Shipping Pte. Ltd., Singapore
17-Feb-19
12-Apr-20
 
     
$6,250
5.00%
C Transport Maritime Ltd., Bermuda
13-Apr-20
13-May-20
 
     
$12,400
5.00%
13-May-20
1-Jul-21 - 30-Sep-21
 
 
2009    177,729
             
32
NEW YORK
G
$15,500
5.00%
Singapore Marine Pte. LTD., Singapore
7-Jun-19
7-Nov-20 - 22-Jan-21
15
 
2010    177,773
             
33
SEATTLE
H
$16,000
5.00%
SwissMarine Services S.A., Geneva
24-Dec-18
24-Apr-20
 
     
$12,300
5.00%
Pacbulk Shipping Pte. Ltd., Singapore
27-Apr-20
1-Oct-21 - 31-Dec-21
 
 
2011     179,362
             
34
P. S. PALIOS
H
$17,500
5.00%
SwissMarine Services S.A., Geneva
5-Jun-19
24-Mar-20
 
     
$6,000
5.00%
C Transport Maritime Ltd., Bermuda
24-Mar-20
28-Apr-20
 
     
$12,050
5.00%
28-Apr-20
9-Apr-21 - 24-Jun-21
 
 
2013    179,134
             
35
G. P. ZAFIRAKIS
I
$17,000
5.00%
SwissMarine Services S.A., Geneva
31-Dec-18
31-May-20 - 31-Aug-20
 
 
2014    179,492
             
36
SANTA BARBARA
I
$17,250
5.00%
Pacbulk Shipping Pte. Ltd., Singapore
28-Dec-19
28-Dec-20 - 28-Feb-21
 
 
2015     179,426
             
37
NEW ORLEANS
 
$15,000
4.75%
Cargill International S.A., Geneva
10-Apr-19
26-Jul-20 - 25-Nov-20
 
 
2015    180,960
             
 
4 Newcastlemax Bulk Carriers
38
LOS ANGELES
J
$13,250
5.00%
SwissMarine Services S.A., Geneva
6-Mar-19
6-Jun-20 - 15-Jun-20
3
 
2012    206,104
             
39
PHILADELPHIA
J
$20,000
5.00%
Koch Shipping Pte. Ltd., Singapore
18-Jun-18
3-Feb-20
 
     
$14,500
5.00%
BHP Billiton Freight Singapore Pte. Ltd
5-Feb-20
5-Apr-21 - 5-Jul-21
 
 
2012    206,040
             
4


40
SAN FRANCISCO
K
$16,000
5.00%
Koch Shipping Pte. Ltd., Singapore
5-Mar-19
5-Oct-20 - 20-Jan-21
 
 
2017   208,006
             
41
NEWPORT NEWS
K
$16,500
5.00%
SwissMarine Services S.A., Geneva
25-Feb-19
25-Jun-20 - 25-Sep-20
 
 
2017   208,021
             

* Each dry bulk carrier is a "sister ship", or closely similar, to other dry bulk carriers that have the same letter.
 
** Total commission percentage paid to third parties.
 
*** In case of newly acquired vessel with time charter attached, this date refers to the expected/actual date of delivery of the vessel to the Company.
 
**** Range of redelivery dates, with the actual date of redelivery being at the Charterers’ option, but subject to the terms, conditions, and exceptions of the particular charterparty.
 
   
1 Vessel off hire for unscheduled maintenance from April 28, 2020 to May 6, 2020.
 
2 Vessel on scheduled drydocking from March 9, 2020 to April 13, 2020.
 
3 Based on latest information.
 
4 Charter included a one time gross ballast bonus payment of US$56,000.
 
5 Charter included a one time gross ballast bonus payment of US$107,500.
 
6 Currently without an active charterparty. Vessel on scheduled drydocking.
 
7 Vessel off hire for drydocking from December 16, 2019 to February 10, 2020.
 
8 Ausca Shipping Limited has agreed to compensate the owners for the early redelivery of the vessel until the minimum agreed redelivery date, February 15, 2020.
 
9 Redelivery date based on an estimated time charter trip duration of about 55 days.
 
10 Vessel currently off hire for drydocking.
 
11 Vessel on scheduled drydocking from January 10, 2020 to March 19, 2020.
 
12 'Norfolk' sold and delivered to her new Owners on March 11, 2020.
 
13 Vessel on scheduled drydocking from January 23, 2020 to April 15, 2020.
 
14 Vessel off hire for drydocking for about 40.8 days.
 
15 Vessel off hire for drydocking from February 18, 2020 to April 27, 2020.
 

5

Summary of Selected Financial & Other Data (unaudited)
 
   
Three months ended March 31,
 
   
2020
   
2019
 
             
STATEMENT OF OPERATIONS DATA (in thousands of US Dollars)
 
Time charter revenues
 
$
43,760
   
$
60,301
 
Voyage expenses
   
3,734
     
2,774
 
Vessel operating expenses
   
21,317
     
22,358
 
Net income/(loss)
   
(102,823
)
   
2,976
 
Net income/(loss) attributed to common stockholders
   
(104,265
)
   
1,534
 
FLEET DATA
 
Average number of vessels
   
41.8
     
48.0
 
Number of vessels
   
41.0
     
48.0
 
Weighted average age of vessels
   
9.5
     
9.4
 
Ownership days
   
3,801
     
4,320
 
Available days
   
3,518
     
4,276
 
Operating days
   
3,391
     
4,263
 
Fleet utilization
   
96.4
%
   
99.7
%
AVERAGE DAILY RESULTS
 
Time charter equivalent (TCE) rate (1)
 
$
11,377
   
$
13,453
 
Daily vessel operating expenses (2)
 
$
5,608
   
$
5,175
 

Non-GAAP Measures

(1)
Time charter equivalent rates, or TCE rates, are defined as our time charter revenues less voyage expenses during a period divided by the number of our available days during the period, which is consistent with industry standards.  Voyage expenses include port charges, bunker (fuel) expenses, canal charges and commissions.  TCE is a non-GAAP measure.  TCE rate is a standard shipping industry performance measure used primarily to compare daily earnings generated by vessels on time charters with daily earnings generated by vessels on voyage charters, because charter hire rates for vessels on voyage charters are generally not expressed in per day amounts while charter hire rates for vessels on time charters are generally expressed in such amounts.

(2)
Daily vessel operating expenses, which include crew wages and related costs, the cost of insurance, expenses relating to repairs and maintenance, the costs of spares and consumable stores, tonnage taxes and other miscellaneous expenses, are calculated by dividing vessel operating expenses by ownership days for the relevant period.

This press release includes a discussion of net income/(loss) and income/(loss) per share adjusted for impairment loss as identified in the reconciliations provided below. The Company believes that discussion of these additional non-GAAP measures provides investors with meaningful comparisons of current results to prior periods’ results by excluding items that the Company does not believe reflect its fundamental business performance. The following shows the difference between net loss to adjusted net loss, and loss per share to adjusted loss per share for the three months ended March 31, 2020 and net income to adjusted net income, and earnings per share to adjusted earnings per share for the three months ended March 31, 2019 (in thousands, except per share amounts):
6



   
Three months ended March 31,
 
   
2020
   
2019
 
Adjusted net income/(loss) and net income/(loss) attributed to common stockholders
           
             
Net income/(loss)
 
$
(102,823
)
 
$
2,976
 
Impairment loss
   
93,137
     
4,750
 
Adjusted net income/(loss)
 
$
(9,686
)
 
$
7,726
 
                 
Dividends on series B preferred shares
   
(1,442
)
   
(1,442
)
Adjusted net income/(loss) attributed to common stockholders
 
$
(11,128
)
 
$
6,284
 
                 
Adjusted income/(loss) per share
               
Income/(loss) per common share, basic and diluted
 
$
(1.21
)
 
$
0.02
 
Impairment loss per share
   
1.08
     
0.05
 
                 
Adjusted income/(loss) per share, basic and diluted
 
$
(0.13
)
 
$
0.07
 

Conference Call and Webcast Information

The Company’s management will conduct a conference call and simultaneous Internet webcast to review these results at 9:00 A.M. (Eastern Time) on Thursday, May 14, 2020.

Investors may access the webcast by visiting the Company’s website at www.dianashippinginc.com, and clicking on the webcast link. The conference call also may be accessed by telephone by dialing 1-877-407-8291 (for U.S.-based callers) or 1-201-689-8345 (for international callers), and asking the operator for the Diana Shipping Inc. conference call.

A replay of the webcast will be available soon after the completion of the call and will be accessible for 30 days on www.dianashippinginc.com. A telephone replay also will be available for 30 days by dialing 1-877-660-6853 (for U.S.-based callers) or 1-201-612-7415 (for international callers), and providing the Replay ID number 13702465.

About the Company

Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.
7


Cautionary Statement Regarding Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Company management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company’s control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in the forward-looking statements include the severity, magnitude and duration of the COVID-19 pandemic, including impacts of the pandemic and of businesses’ and governments’ responses to the pandemic on our operations, personnel, and on the demand for seaborne transportation of bulk products; the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in the Company’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company’s vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessel breakdowns and instances of off-hires and other factors. Please see the Company’s filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

(See financial tables attached)
8

DIANA SHIPPING INC.
FINANCIAL TABLES
Expressed in thousands of U.S. Dollars, except share and per share data
           
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS)

   
Three months ended March 31,
 
   
2020
   
2019
 
REVENUES:
           
Time charter revenues
 
$
43,760
   
$
60,301
 
                 
EXPENSES:
               
Voyage expenses
   
3,734
     
2,774
 
Vessel operating expenses
   
21,317
     
22,358
 
Depreciation and amortization of deferred charges
   
11,547
     
12,449
 
General and administrative expenses
   
9,546
     
7,535
 
Management fees to related party
   
517
     
512
 
Impairment loss
   
93,137
     
4,750
 
Loss from sale of vessels
   
1,078
     
-
 
Other gain
   
(241
)
   
(60
)
Operating income/(loss)
 
$
(96,875
)
 
$
9,983
 
                 
OTHER INCOME / (EXPENSES):
               
Interest and finance costs
   
(6,354
)
   
(7,704
)
Interest income
   
436
     
716
 
Loss from equity method investment
   
(30
)
   
(19
)
Total other expenses, net
 
$
(5,948
)
 
$
(7,007
)
                 
Net income/(loss)
 
$
(102,823
)
 
$
2,976
 
Dividends on series B preferred shares
   
(1,442
)
   
(1,442
)
Net income/(loss) attributed to common stockholders
   
(104,265
)
   
1,534
 
Earnings/(loss) per common share, basic and diluted
 
$
(1.21
)
 
$
0.02
 
Weighted average number of common shares, basic
   
86,473,606
     
100,654,177
 
                 
Weighted average number of common shares, diluted
   
86,473,606
     
100,685,910
 
                 

   
Three months ended March 31,
 
   
2020
   
2019
 
             
Net income/(loss)
 
$
(102,823
)
 
$
2,976
 
Other comprehensive loss (Actuarial loss)
   
(7
)
   
(9
)
Comprehensive income/(loss)
 
$
(102,830
)
 
$
2,967
 

9

CONDENSED CONSOLIDATED BALANCE SHEET DATA
       
(in thousands of U.S. Dollars)
       
             
   
March 31, 2020
   
December 31, 2019*
 
ASSETS
 
(unaudited)
       
             
Cash and cash equivalents
 
$
90,700
   
$
107,288
 
Other current assets
   
23,544
     
29,751
 
Vessels, net
   
781,968
     
882,297
 
Other fixed assets, net
   
21,989
     
22,077
 
Restricted cash, non-current
   
20,500
     
21,000
 
Investments in related parties
   
150
     
1,680
 
Other non-current assets
   
5,377
     
7,187
 
Total assets
 
$
944,228
   
$
1,071,280
 
                 
LIABILITIES AND STOCKHOLDERS' EQUITY
               
                 
Long-term debt, net of deferred financing costs
 
$
465,441
   
$
474,951
 
Other liabilities
   
21,088
     
26,265
 
Total stockholders' equity
   
457,699
     
570,064
 
Total liabilities and stockholders' equity
 
$
944,228
   
$
1,071,280
 
                 
*
The balance sheet data have been derived from the audited consolidated financial statements at that date.
 

OTHER FINANCIAL DATA (unaudited)
 
   
Three months ended March 31,
 
   
2020
   
2019
 
             
Net cash provided by operating activities
 
$
7,290
   
$
18,122
 
Net cash provided by/(used in) investment activities
   
(1,164
)
   
3,000
 
Net cash used in financing activities
 
$
(23,214
)
 
$
(36,073
)


10