Strong Financial Performance
Q1 profit of $46 million, equivalent to $0.30 per share, with dividends of $0.28 per share, translating to an annualized dividend yield of 10%.
Record TCE Income
Reported a TCE income of $39,800 per available day and $38,800 per calendar day, surpassing guidance of $36,000 per day.
Successful Financing Activities
Concluded a Japanese JOLCO lease for 1 vessel and in the final stages of refinancing a $380 million bank loan with strong interest from banks.
Share Buyback Program
Reactivated the share buyback program after the share price dropped, contributing to a significant improvement in share price.
Increased Shipping Demand
Spot market fixing vessels around $50,000 per day from the U.S. and $60,000 per day from the Middle East due to strong fundamentals.