EarningsQ3 earnings with EBITDA of ~$147M coming in ~7% below the Street's ~$158.2M on lower than expected revenues.
Market ConditionsThe company's spot LR2, MR, and Handymax Revenue Days bookings were significantly below prior full fourth quarter targets.
Operating ExpensesVessel operating expenses are slightly higher due to increased charters moving around the Cape of Good Hope, weather induced repairs, and larger than expected days in dry dock.