Announced 11/21
- Rev of $82.3M
- Net Income of $8.1M (including losses on market swaps)
- Avg TCE earnings $81,600 daily
- Declared Q3 div of 15c/sh
- Took delivery of newbuild vessel in Oct 2024, and vessel is operating in spot market. In other years, the timing of the new vessel would be great. This year, not so much.
- Subsequent to qtr end, CLCO mgmt approved a share buy-back. Seems reasonable, given the large div cut is going to likely hit share price.