Consistent Dividend Policy
The company declared a dividend of $0.70 per share, consistent with its policy of aligning shareholder returns with market realities, despite a heavy dry docking schedule.
Fuel Savings and Efficiency Improvements
Achieving fuel savings higher than 10% from energy-saving devices and silicon paints. This results in payback periods of less than a year and continuous fuel and cost emissions savings.
Strong Financial Position
Reported $314.5 million in free cash with a debt-to-total book capitalization at 34.8% and net debt to total cap at 15%.
Positive Market Outlook
Expectations of production growth and terminal expansions at Targa and Nederland by the second half of 2025. Deliveries of only 11 ships this year support a healthy freight market.
Ammonia Capable Fleet Expansion
Upgrading fleet to be ammonia capable with one VLGC already on water and plans to retrofit two more ships this year.