Diana Containerships has changed its name to Performance Shipping while coming closer to the profit side of the ledger.
The Simeon Palios-led boxship player assumed the new moniker today upon filing a change to its articles of incorporation with the Marshall Islands Registry, a company official said.
Shareholders approved the name change during an annual meeting held on 19 February. The proposal was filed with the US Securities and Exchange Commission on 11 January.
The company said it will continue to trade its common shares on the Nasdaq Global Select Market under the ticker DCIX.
Chief strategy officer Ioannis Zafirakis declined to say why the company wanted a new name.
Closer to profit
Performance Shipping narrowed its loss considerably for the fourth quarter amid a much smaller impairment charge from a year ago.
The New York-listed boxship owner posted a $0.4m net loss versus a $16.6m deficit during the same three-month period in 2017.
The Athens-based company recorded a $0.3m impairment loss on one ship, compared with an $8.4m charge for two vessels in the same period last year.
Revenue slipped to $6.1m from $7.8m, mainly due to a decrease in the owner's number of ships, offset somewhat by higher rates amid a better market.
