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Fleet Utilization Rate
Shows the share of the fleet that is actively employed and earning revenue. High utilization supports steady cash flow and better coverage of fixed costs, while low utilization signals idle capacity, lost revenue, and pressure on margins.Utilization has been consistently at or near full deployment, with only a short-lived dip tied to a dry-dock/operational interruption in mid‑2023; management reports 99.7% in Q1 2026. High utilization has amplified recent TCE and EBITDA recovery and supported buybacks/NAV upside, but planned fleet growth (11→15 vessels), conditional newbuild financing and modest hedges mean maintaining those per‑vessel economics is critical — rising breakevens and potential market softening could erode margins even if utilization stays high.
Date | Fleet Utilization Rate |
|---|---|
Jun 30, 2026 | 100.00 |
Mar 31, 2026 | 99.70 |
Dec 31, 2025 | 99.60 |
Sep 30, 2025 | 99.30 |
Jun 30, 2025 | 99.30 |
Mar 31, 2025 | 97.40 |
Dec 31, 2024 | 99.40 |
Sep 30, 2024 | 98.50 |
Jun 30, 2024 | 99.00 |
Mar 31, 2024 | 98.10 |