Reports Q1 revenue $141.93M, consensus $151.58M. Peder Simonsen, CEO and CFO, commented: “Our first quarter results reflect a weaker market environment, with softer charter rates and lower trading activity impacting our performance, in addition to our current intensive drydocking schedule. These headwinds were not unexpected given the seasonal slowdown and increased macroeconomic uncertainty, including the disruption caused by recently announced trade tariffs. Despite these challenges, the fundamentals underpinning dry bulk shipping remain intact, in particular for the Capesize segment. Limited fleet growth, shifting trade patterns, and infrastructure-led demand in key regions continue to support a constructive medium-term outlook. We continue to work towards the announced contemplated merger with CMB.TECH NV, while maintaining our focus on fleet enhancement, cost discipline and operational efficiency.”
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