Diana Shipping has snapped a run of red ink and broken back into the black in the second quarter of 2018.

New York-listed Diana booked a net profit of $2m in the three months to the end of June 2018, with a smaller figure of $500,000 attributed to its common stockholders.

Simeon Palios, chief executive of Diana Shipping, said on a conference call the results marked a "dramatic turnaround" from a loss of $23.8m