Highlights for the quarter ended
- Total operating revenues of
- Net income of
- Secured time charter agreements for the three remaining uncontracted vessels for 24 months' time charters with an evergreen structure to commence in the first half of 2024, at an index-linked rate reflecting a significant premium to the Baltic 5TC index (BCI). With these charters, the Company has secured employment of the entire fleet.
- Extended index linked time charters for six of our vessels by an additional year, until the end of 2026.
- Converted index linked charters to fixed rate charter for five vessels for varying periods from
- Settlement of installment payments on three of our newbuilding vessels totaling
- Completion of the private placement of new shares at a price of
Subsequent events
- Successful delivery and commencement of operations of three additional 210,000 dwt Newcastlemax dual fuel newbuildings ordered from
- Execution of financing on the three delivered vessels by sale leaseback facilities provided by
- Conversion of index linked charters on
- Declaration of cash distribution for
Contracted CEO,
"We currently have nine vessels sailing, with the remaining three vessels expected to be delivered shortly. With this, the Company has developed into a fully operating company, offering one of the most modern and fuel-efficient fleets in the dry bulk industry. All vessels have been employed by reputable counterparties, with the index linked charters earning on average a premium of 42.25% to the Baltic 5TC index. We believe this is one of the highest premiums in the industry, showing the attractiveness of our fleet.
The strategy of
Questions should be directed to:
Herman Billung: Contracted CEO, +4791831590
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