Record Future Revenue Stream
The company has built up a solid stream of $4 billion in future contracted revenue, providing stability and predictability in results.
Strong Cash Position and Dividend Yield
Maintained a cash position of nearly $300 million and declared an additional $1 per share dividend, representing an attractive yield of over 4%.
High Fleet Utilization and Operational Efficiency
Achieved high fleet utilization with a 96.2% rate and a Time Charter Equivalent rate of $30,703.
Significant Fleet Expansion Program
Confirmed a 20 Vessel Newbuilding Program with deliveries from Q1 2026 to Q4 2028, including 3 VLCCs and 10 shuttle tankers.
Reduced Interest Costs
Interest costs declined from $87.4 million to $72.7 million due to lower global interest rates despite an increase in debt.
Positive Net Income and EBITDA
Generated a net income of $103 million and adjusted EBITDA of $290 million for the 9-month period.