Latest news with #Kamsarmax
Yahoo
22-05-2025
- Business
- Yahoo
Golden Ocean Group Ltd (GOGL) Q1 2025 Earnings Call Highlights: Navigating Challenges with ...
Adjusted EBITDA: $12.7 million in Q1 2025, down from $69.9 million in Q4 2024. Net Loss: $44.1 million in Q1 2025, compared to a net income of $39 million in Q4 2024. Loss Per Share: $0.22 in Q1 2025, compared to earnings per share of $0.20 in Q4 2024. Net TCE Rates: $16,800 per day for Capesizes, $10,400 per day for Panamax vessels, and fleet-wide net TCE of $14,400 per day in Q1 2025. Dry Docking Costs: $38.3 million for 380 dry docking days in Q1 2025. Net Revenue: $114.7 million in Q1 2025, down from $174.9 million in Q4 2024. Operating Expenses: $95.3 million in Q1 2025, compared to $95.6 million in Q4 2024. Cash Flow from Operations: Negative $3.3 million in Q1 2025, down from $71.7 million in Q4 2024. Dividend Declared: $0.05 per share for Q1 2025. Cash and Cash Equivalents: $112.6 million at the end of Q1 2025. Debt and Finance Lease Liabilities: $1.44 billion at the end of Q1 2025. Book Equity: $1.8 billion with a total equity to total assets ratio of approximately 54% at the end of Q1 2025. Warning! GuruFocus has detected 5 Warning Signs with GOGL. Release Date: May 21, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Golden Ocean Group Ltd (NASDAQ:GOGL) declared a dividend of $0.05 per share for the first quarter of 2025. The company has entered into agreements for the sale of two older Kamsarmax vessels at attractive prices, aligning with their fleet renewal strategy. For Q2, Golden Ocean Group Ltd (NASDAQ:GOGL) has fixed a net TCE of about $19,000 per day for 69% of Capesize days and about $11,100 per day for 81% of Panamax days, indicating improved earnings potential. The company has $100 million of undrawn available credit lines at quarter end, providing financial flexibility. Golden Ocean Group Ltd (NASDAQ:GOGL) is benefiting from infrastructure improvements in Brazil, which have positively impacted export volumes despite adverse weather conditions. Golden Ocean Group Ltd (NASDAQ:GOGL) recorded a net loss of $44.1 million and a loss per share of $0.22 in Q1 2025. The company's adjusted EBITDA significantly decreased to $12.7 million in Q1 2025 from $69.9 million in Q4 2024. The fleet-wide net TCE rate decreased to $14,400 per day in Q1 2025 from $20,800 in Q4 2024. Golden Ocean Group Ltd (NASDAQ:GOGL) incurred high dry-docking costs of $38.3 million for 380 dry docking days in Q1 2025. Cash flow from operations was negative $3.3 million in Q1 2025, down from $71.7 million in Q4 2024. Q: Can you provide specific dates for the contemplated merger between Golden Ocean and CMB Tech? A: Peder Simonsen, CFO of Golden Ocean Management AS, stated that it is difficult to provide specific dates as there are many work streams involved in the process. The company is working according to the plan announced in the press release. Q: There seems to be a detachment between market prices and the agreed 0.95 exchange ratio for the merger. How should this be interpreted? A: Peder Simonsen explained that the pricing is influenced by various factors, including stock liquidity, and left the interpretation to market analysts. Q: What are the near-term market expectations, and are there any significant catalysts expected before Simandou volumes come online? A: Peder Simonsen noted recent disruptions in Guinea and Peru affecting market sentiment but expects volumes to pick up in line with seasonality. He remains positive for the second half of the year, anticipating healthy volumes for Capesize vessels. Q: Given the current rates and asset prices, is there an expectation for asset prices to decrease if rates remain at mid-teen levels? A: Peder Simonsen highlighted that newbuilding prices are high due to supportive long-term fundamentals and limited yard capacity. He does not expect secondhand values to decrease and believes that positive demand fundamentals will eventually impact the freight market. Q: How do you view the current market conditions compared to last year, and what are the expectations for the rest of the year? A: Peder Simonsen acknowledged that Q1 was more in line with seasonality compared to an unusually good Q1 last year. He expects miners to ramp up exports significantly in the second half, supported by constrained shipyard capacity and a positive outlook for large vessels. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Business Upturn
20-05-2025
- Business
- Business Upturn
Pyxis Tankers Announces Date for the Release of the First Quarter 2025 Results
Maroussi, Greece, May 20, 2025 – Pyxis Tankers Inc. (NASDAQ Cap Mkts: PXS), an international shipping company with a focus on the seaborne transportation of refined petroleum products and dry bulk commodities, today announced the following: We will issue our unaudited results for the first quarter ending March 31, 2025, before the market opens in New York on Wednesday, May 21, 2025. Advertisement A presentation of the first quarter 2025 financial results will be available on the Pyxis Tanker's website, under the Presentations section of its Investor Relations page. About Pyxis Tankers Inc. The Company currently owns a modern fleet of six mid-sized eco-vessels, which are engaged in the seaborne transportation of a broad range of refined petroleum products and dry-bulk commodities and consists of three MR product tankers, one Kamsarmax bulk carrier and controlling interests in two dry-bulk joint ventures of a sister-ship Kamsarmax and an Ultramax. The Company is positioned to opportunistically expand and maximize its fleet of eco-efficient vessels due to significant capital resources, competitive cost structure, strong customer relationships and an experienced management team whose interests are aligned with those of its shareholders. For more information, visit: The information on or accessible through the Company's website is not incorporated into and does not form a part of this release. Company Pyxis Tankers Inc. 59 K. Karamanli Street Maroussi, 15125 Greece [email protected] Visit our website at Company Contact Henry Williams Chief Financial Officer Tel: +30 (210) 638 0200 / +1 (516) 455-0106 Email: [email protected] Source: Pyxis Tankers Inc. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Yahoo
20-05-2025
- Business
- Yahoo
Pyxis Tankers Announces Date for the Release of the First Quarter 2025 Results
Maroussi, Greece, May 20, 2025 – Pyxis Tankers Inc. (NASDAQ Cap Mkts: PXS), an international shipping company with a focus on the seaborne transportation of refined petroleum products and dry bulk commodities, today announced the following: We will issue our unaudited results for the first quarter ending March 31, 2025, before the market opens in New York on Wednesday, May 21, 2025. A presentation of the first quarter 2025 financial results will be available on the Pyxis Tanker's website, under the Presentations section of its Investor Relations Pyxis Tankers Inc. The Company currently owns a modern fleet of six mid-sized eco-vessels, which are engaged in the seaborne transportation of a broad range of refined petroleum products and dry-bulk commodities and consists of three MR product tankers, one Kamsarmax bulk carrier and controlling interests in two dry-bulk joint ventures of a sister-ship Kamsarmax and an Ultramax. The Company is positioned to opportunistically expand and maximize its fleet of eco-efficient vessels due to significant capital resources, competitive cost structure, strong customer relationships and an experienced management team whose interests are aligned with those of its shareholders. For more information, visit: The information on or accessible through the Company's website is not incorporated into and does not form a part of this Tankers Inc. 59 K. Karamanli StreetMaroussi, 15125 Greece info@ Visit our website at Company ContactHenry Williams Chief Financial Officer Tel: +30 (210) 638 0200 / +1 (516) 455-0106 Email: hwilliams@ Source: Pyxis Tankers in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
Star Bulk Announces Results of Its 2025 Annual Meeting of Shareholders
ATHENS, Greece, May 14, 2025 (GLOBE NEWSWIRE) -- Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (Nasdaq: SBLK), today announced that the Company's Annual Meeting of Shareholders was duly held today in Cyprus pursuant to a Notice of Annual Meeting of Shareholders dated March 25, 2025 ('Notice'). At the meeting, each of the following proposals, which are set forth in more detail in the Notice and the Company's Proxy Statement were approved and adopted:1. The re-election of Messrs. Petros Pappas, Arne Blystad and Raffaele Zagari to serve as Class C Directors on the Company's Board of Directors.2. The appointment of DELOITTE CERTIFIED PUBLIC ACCOUNTANTS S.A. as the Company's independent auditors for the fiscal year ending December 31, 2025. About Star BulkStar Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk's vessels transport major bulks, which include iron ore, minerals and grain, and minor bulks, which include bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and maintains executive offices in Athens, New York, Stamford and Singapore. Its common stock trades on the Nasdaq Global Select Market under the symbol 'SBLK'. As of the date of this release on a fully delivered basis and as adjusted for the delivery of a) the vessels agreed to be sold as discussed above and b) the five firm Kamsarmax vessels currently under construction, we own a fleet of 150 vessels, with an aggregate capacity of 14.7 million dwt consisting of 17 Newcastlemax, 15 Capesize, 1 Mini Capesize, 7 Post Panamax, 44 Kamsarmax, 1 Panamax, 48 Ultramax and 17 Supramax vessels with carrying capacities between 55,569 dwt and 209,537 dwt. Contacts Company:Simos Spyrou, Christos BeglerisCo ‐ Chief Financial Officers Star Bulk Carriers Corp.c/o Star Bulk Management Inc.40 Ag. Konstantinou 15124Athens, GreeceEmail: info@ Investor Relations / Financial Media:Nicolas BornozisPresidentCapital Link, Inc.230 Park Avenue, Suite 1540New York, NY 10169Tel. (212) 661‐7566E‐mail: starbulk@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-05-2025
- Business
- Yahoo
Star Bulk Announces Date for the Release of First Quarter Ended March 31, 2025, Results, Conference Call, and Webcast
ATHENS, Greece, May 08, 2025 (GLOBE NEWSWIRE) -- Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (Nasdaq: SBLK), today announced that it will release its results for the first quarter ended March 31, 2025, after the market closes in New York on Wednesday, May 14, 2025. Star Bulk's management team will host a conference call to discuss the Company's financial results on Thursday, May 15, 2025, at 11:00 a.m. Eastern Time (ET). Conference Call details: Participants should dial into the call 10 minutes before the scheduled time using the following numbers: +1 877 405 1226 (US Toll-Free Dial In) or +1 201 689 7823 (US and Standard International Dial In), or +0 800 756 3429 (UK Toll Free Dial In). Please quote 'Star Bulk Carriers' to the operator and/or conference ID 13753831. Click here for additional participant International Toll-Free access numbers. Alternatively, participants can register for the call using the call me option for a faster connection to join the conference call. You can enter your phone number and let the system call you right away. Click here for the call me option. Slides and audio webcast: There will also be a live, and then archived, webcast of the conference call and accompanying slides, available through the Company's website. To listen to the archived audio file, visit our website and click on Events & Presentations. Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast. About Star BulkStar Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk's vessels transport major bulks, which include iron ore, minerals and grain, and minor bulks, which include bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and maintains executive offices in Athens, New York, Stamford and Singapore. Its common stock trades on the Nasdaq Global Select Market under the symbol 'SBLK'. As of the date of this release on a fully delivered basis and as adjusted for the delivery of vessels agreed to be sold and the five firm Kamsarmax vessels currently under construction, we own a fleet of 152 vessels, with an aggregate capacity of 14.8 million dwt consisting of 17 Newcastlemax, 15 Capesize, 1 Mini Capesize, 7 Post Panamax, 44 Kamsarmax, 1 Panamax, 48 Ultramax and 19 Supramax vessels with carrying capacities between 55,569 dwt and 209,537 dwt. Contacts Company:Simos Spyrou, Christos BeglerisCo ‐ Chief Financial Officers Star Bulk Carriers Corp.c/o Star Bulk Management Inc.40 Ag. Konstantinou 15124Athens, GreeceEmail: info@ Investor Relations / Financial Media:Nicolas BornozisPresidentCapital Link, Inc.230 Park Avenue, Suite 1540New York, NY 10169Tel. (212) 661‐7566E‐mail: starbulk@
