Dividend SustainabilityAnalyst notes that the elevated dividend was supported by a one-time vessel sale, indicating dividend levels may not be sustainable without similar asset disposals.
Earnings Pressure From Fleet GrowthHigher depreciation from recent fleet expansion combined with persistently weak shipping rates may compress earnings per share and pressure overall profitability.
Shipping Demand And Freight RatesSoftening demand from China for thermal coal has reduced freight rates for larger dry bulk vessels, which can lower voyage revenue for the company.