- Operating revenue of $213.4M
- Net income of $34.9M
- TCE (daily) $17664
- Dividend of 10c/sh
- Initially, the Capesize rate seemed quite impressive @ $19.1K daily given market conditions. Then, it occurred to me, GOGL now has additional Newcastlemax vessels, which are a Cape category.
- Mention that the Bauxite trade helps offset weakness in the iron ore trade (impacted by weather)
- Taken delivery of 6 Kamsarmax newbuilds -
- Q3 normally is a stronger qtr. GOGL has very good contract coverage on Panamax side so far (97% done) - profitable avg