Reported on 11/09
- Revenue of $83.3M
- Net Loss of $32M (includes vessel impairment of $28.1M)
- Declared div of 15c/sh
- TCE avg of $12,082 daily
Quite amusing. The formula got modified to allow for a dividend, then adjusts again for Q4 2023. TCE avg for Q4 QTD is > $16.5K daily.
- Working on a new credit facility, much larger $500M
- Acquired a 2016-built Cape vessel
The impairment costs? While it could be across the fleet, my suspicion is that it a single vessel category that is the major cause. Just not sure which of the three GNK vessel categories is the problem.