DRY bulk ship owner Diana Shipping registered a second quarter net income of US$2 million, up from a net loss of $23.8 million for the same quarter in 2017. Second quarter time charter revenues surged by 41 per cent year on year to $53.4 million on the back of higher average time charter rates for the company's vessels during the quarter, as well as increased ownership days due to the fleet's expansion, reported American Shipper. The fleet consists of 50 dry bulk ships: 22 Panamax vessels, 14 Capesize vessels, five post-Panamax vessels, five Kamsarmax vessels and four Newcastlemax vessels. The vessels mainly are employed on medium to long-term time charters, transporting a range of dry bulk cargo along trade lanes worldwide.