Want to see TEN full AI Analyst Report?
Utilization Rate
Measures the share of the fleet actively employed and earning revenue versus idle or in drydock, showing how effectively assets generate cash. High utilization signals strong demand and operational efficiency; low utilization warns of weak markets, underused capacity, or maintenance constraints.Utilization dipped in 2024 but has since rebounded to multi‑year highs, reflecting TEN’s shift toward secured charters and profit‑sharing arrangements coupled with aggressive fleet renewal. Management says the high utilization underpins stronger cash flow, supports resumed dividends and faster deleveraging, but the composition matters: fewer pure spot days limit open‑ended upside if strong rates persist, while geopolitical-driven rerouting and surging war‑risk insurance pose short‑term operational cost and volatility risks to that otherwise robust utilization story.
Date | Utilization Rate |
|---|---|
Mar 31, 2026 | 98.30 |
Dec 31, 2025 | 97.70 |
Sep 30, 2025 | 94.80 |
Jun 30, 2025 | 96.60 |
Mar 31, 2025 | 97.20 |
Dec 31, 2024 | 93.30 |
Sep 30, 2024 | 92.80 |
Jun 30, 2024 | 92.40 |
Mar 31, 2024 | 91.30 |
Dec 31, 2023 | 98.30 |