Announced 11/09/22
- Operating revenue of $172.5M
- Net income of $89.2M
- Declared div of37.5c/sh for Q3 2022
- Forward charter of vessels added over $750M of backlog
- Repaid higher slices of debt with June 2022 financing package
Revenue gain was good. However, there are some negatives
- While unplanned off-hire was down for the comparable qtr, it was still over 100 days in Q3, and 338 for first nine months
- Multiple factors including economic slow-down, inflation, Ukraine-Russia war, etc., putting downward pressure on market
- Charter expiry: 2 in Q4 2022 and 11 during 2023 (early dates of charter expiration)