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Utilization Rate
Indicates the share of available days that vessels were actually operating and earning revenue, with higher rates meaning better fleet productivity and fewer downtime losses. Sustained high utilization typically supports stronger earnings per vessel.Utilization has been persistently near full and just hit a new cyclical peak, which directly amplifies cash flow and underpins management’s much larger dividend guidance and buy‑and‑renew fleet strategy. High utilization validates recent Capesize-focused deployments and explains outsized operating leverage, but it also concentrates risk: freight‑rate volatility, drydocking/aging‑fleet timing, and near‑term revolver use or activism costs could quickly erode the dividend runway if market momentum stalls.
Date | Utilization Rate |
|---|---|
Jun 30, 2026 | 98.60 |
Mar 31, 2026 | 99.20 |
Dec 31, 2025 | 99.10 |
Sep 30, 2025 | 98.10 |
Jun 30, 2025 | 98.30 |
Mar 31, 2025 | 98.00 |
Dec 31, 2024 | 96.90 |
Sep 30, 2024 | 97.90 |
Jun 30, 2024 | 96.50 |
Mar 31, 2024 | 96.20 |