Record Chinese Imports
Q3 achieved record Chinese imports of nearly 580 million metric tons, providing a boost to the bulk carrier markets.
Strong Fleet Utilization
Fleet utilization reached 99.5% for 2025, reflecting effective vessel management strategy.
Strategic Investments and Dividends
Secured $25.4 million of contracted revenues for 87% of the remaining ownership days of 2025 and $118 million for 50% of 2026. Declared a quarterly cash dividend of $0.01 per common share.
Improved Net Income
Net income nearly doubled to $7.2 million from $3.7 million in 2024, driven by lower expenses and a gain from the valuation of investment in Genco.
Disciplined Chartering Strategy
Secured €149 million in contracted revenues with an average time charter rate of $16,200 per day, only 13% of days remain unfixed for the rest of 2025.