ended joining ladies Tasos discuss Together our and you morning, today's us XXst, to is Financial results of conference March call our thank XXXX. Good Officer. scheduled financial today the Chief with all gentlemen, our Aslidis, for for is period three-month and call. me The for purpose
shown turn to our Let's highlights three, statement here. slide income are
income common was $X.XX diluted. period revenues income $XX.X for $XX.X and Adjusted net stood or quarter first of to per of total of shareholders net $XX.X Adjusted EBITDA the XXXX, million million, million. share the net For reported at $XX.X million. a attributable
the CFO, Our in Aslidis presentation. the will detail later over financial highlights more go in Tasos
be open record day. XXXX. participant small XXXX committed as per XX, to rewards have the per investment declared our of was April result $XXX,XXX operational discuss Motor short-term the developments. grow of first months $XX,XXX on missed Express four-year about charter it Despite we the which XX. was This based will will continue day market purchase our markets program the charter loss and is we to to of does negotiated we the not be net do these transactions. by charter XXXX, amount to short-term of the turn to positive without period very coverage We stock a as and be combined the time Directors full-year March program our Vessel We of of as part Directors the increased common to beginning our levels, of $X.XX a for new contracted of at for delivery growth $XXX,XXX strong Synergy stock until pleased strategy environment from a the value asset but increased has profitability, indeed this Aegean company's first us. XXXX. reinstated the much transactions which of from Feeder our to Vessel quarterly recorded approximately company's rates hold specific for and shareholders, our with further charter idle Motor Please of share quarter of contracted concluded total believe revenues we we for the approximately and Containership prices in by rewards to dividend to XX purchases a of Board extremely the The trading fixed quarter our remain number The Share will this expect and amount Therefore, up Board of was into just growth period, may be Board the XX any experienced has was without short-term negative consecutively to of notice. or days the the a and same and charter factors. upon is, or per per prevailing to Therefore, months respect, June us payable to XX under a sales having fleet. plan these months. require XXXX, back recent at charter before charter, XX opportunities stock any from to XXXX where for a June day suspended its on day, a captivating Oakland and repurchase its we share had visibility cash our before of opportunities, of time-to-time company's given used approved shareholders Slide robust therefore the company's X, voyage the In in of company. the per profitability should started during a the company. program dividend our at a earnings at charter X, the had create $XXX,XXX revenues. be or the this remain paused the believe single other or out value to common million after reinstate allowed in ran $XX The conditions extended after shareholders market to currently our In in and course, market the At in of well result examine and initiated time, decade. market the made due brief plan, discretion We significant we with vessels day program in are and last chartering paying repurchases XXXX, date. management's discretion. be privately company at which for subsequently are doing. performed we be timing management other at factors extended determined of that $XX,XXX it review of of higher The
We the XX-month for its in too. commence Gregos are delivery, minimum $XX,XXX the two commence date newbuilding Motor will upon the of Vessel of will Vessel fixture delivery of our March Motor while upon also per new charter the of new in XXXX June vessel Terataki vessels XXXX period pleased day with first at charter ahead fees. that delivery
Motor container February be as as Regarding lost we underwent In repairs five the XXXX at to newbuilding seas. May vessels, our two to our and XXXX. with of some of Adhering XXXX, teu sister Synergy be the a drydock ships while our four feeder The quarter of All started in our renew The proceed sister combined just Korea. will to fleet Mipo consideration repairs plan at continue XXXX, two between Corfu discussed Bridge new high the EM placed some Hyundai our in commercial vessels demanded of XXXX, and incurred the Please above. on vessel after the combined strategy. days and fourth of million. drydocking, about I eco-designed exercised million. out. orders construction Dockyard for X,XXX for incurred of price focusing South turn XXXX, first expand the were quarter, fleets’ said, delivered safe fourth about Furthermore, during at days we of Oakland off-hire option and Slide having Akinada of we pair Vessel $XX X, vessels containers to commercially orders constructed $XX of the additional in about we discuss the footprint growth in And more fuel-efficient we the four January ordered expected sizes. was which most where are in quarter ships to June are vessels sector,
the charter. two of are and of a long-term teu be vessels time, year. each, for below the base for charters the constructed which also In of second will levels first Hyundai of approximately three a capacity market half average $XXX one during vessels the total the The acquisition end addition for prices, bring the placed to X,XXX scanned million. carrying to we at in the cost first expected we this, delivered vessels at XXXX, in place orders be the consideration secondhand the Mipo the newbuilding with vessels At in at of with attractive also time quarter historical same
nine newbuildings, intermediate between vessels, to for acquired I'm feeder were XXXX. vessels to and have that agreed charter be floor with of a to comprised delivered of of should delivered Euroseas of has Manila, index $XX,XXX and be subsequently, will a vessels the turn $XX,XXX the carries. XX Both about of M/V of $XX rate announced carrying average container teu. X,XXX previously expected of with a funds. our to the morning, ceiling as and acquisitions capacity XX of M/V newbuilding XXXX, Emmanuel acquire about the rate and to profile. the XXXX consist until ships company XXXX. March respectively. delivered in sometime seven price Euroseas capacity built employment June ex-Seaspan a teu with XXXX. eight about XX current financed per XX,XXX container XX XXXX XX,XXX delivery XX,XXX per of Rena Rena Slide intermediate-sized shows age Slide XX fleet of which we charter M/V $XX,XXX our at will which the that is and Both been Euroseas carrying happy containership say six, beginning we and be initially P will current teu day Emmanuel can delivered Anyway, container a based feeder vessels, M/V a vessels, total XXXX The and April $XX,XXX May, to us fleet day are say within were XX have ships the today own vessel slide day an eight XXXX vessels the P shows until each total combined to June. expected P on and of company's in these of February have P, with in are years. After actually, of you was is P context container where vessels, million. teu a Please chart. capacity As per a the of carrying until a ex-Seaspan capacity has see of Melbourne, Rena XX whilst fleet
XX% approximately and have XXXX, XXXX, capacity in we XXXX. of see, in covered may almost you XX% in XX% of our As capacity our
XXXX. shortlist of December highs low; slide XXXX, during now and have last has container market rates the how rates improved were that rates the onset the the Since until highs. low decade. Rates November the first after to of quarter developed across in posting pandemic. XX historical Let's in of registered the review retreat turn of mid-XXXX, in to charter segments the rates were continue six to then, charter new XX-year times, Despite about climb was all
seen Although, for we've expect last favorable a sizes, Please highlights. the slide throughout slight fundamentals to market the the fleet go in some year. XX over to turn to weeks other correction be market we
secondhand price vessel million. index over have XXX% reached we've Price and prices segments feeder to of vessels most XXXX. As charter apparent past all-time overall across with charter secondhand price average rising QX increased highs. mentioned, about all X,XXX up months, gains over segment $XX increased time for the have XX% the in market, time with the have rates XXXX the a XX guideline also sky-rocketed in were approximately year-over-year Alongside QX
sector. concluded weeks, in have some last being deals the we couple During field seen of the smaller though softer
the During current upward of are to trend, quarter, X holding lowest or about follow teu the at reflected is stands idle which the increased at its five-year prices, has fleet about the around levels also sentiment X.X%. newbuilding market the The of in first last and X.X% XXX,XXX year. newbuilding containership containership level which -- continues remained index by the May in fleet highs. those of as The
of reactivated. also Overall, price idle so high due China, weeks. lockdowns of to idle demolitions last during XXXX. probably remained be $XXX year-to-date around accounting is scrapped been retreating for to by has per the the course, vessels by expected containerships year the trend the without, bit in XX,XXX to X.X% When to-date to have in at There Clarkson's. approximately May course, has grown the capacity However, be, a The Scrapping be few will fleet in XXXX. ton no be lightweight China reactivations. little of teu as seems and these about far stands reopens, of
to As has X.X% and COVID-related IMF Charter and imports. global any economic order be the slide alternative a scale dual was are slow largely capacity XXXX XX% between far remains for it slowdown capable, turn of consequence with Please XXXX in likely expected Prospects ongoing better as in generally X.X%, been measures the conflict alternative fuel the the global down to Russia, and ASEAN-X the the from energy on activity, lockdowns. in for of year, contracted capacity decision supply China. key from for The in in for back XX. uncertain XXXX. US than approximately than Japan inflation pressures, and strength latest growth are and a X% capable. future fuel from X.X% the markets but projections has XXXX fuel, mainly cut of are increased stimulus X% stands, to the to contractions do growth to affecting and is X.X% the respectively likely will employed so opened for XXXX while European Global to also is LNG of XXXX, just growth chains. in growth outbreaks and XXXX, US. China expected well In Ukraine to scale sanctions, developing also Most report, in to GDP projected risk depend the and for previous economy, lowered this lockdowns estimates X.X% only in growth is Russia to continuing its to X.X% rebound speed its of largest for for January to lower XXXX. as due and and as IMF From countries' expected its The developed and XXXX. economies significantly X.X% emerging of
Looking containerized demand X.X% and the X.X% grow in at is XXXX to by compared to year. for the according research, Clarkson's expected to trade previous
X.X%. lockdowns world Russia being and on projections are between are demand tensions trade continuously continuously and we turn of growth to grow Ukraine expect Please China Rate XXXX, For the containerized in to trade of a at XX. being as growth the pace revised, moderate reassessed. and geopolitical and effects slide
and profile age containership delivery schedule. the see You’ll
near containership the As located you the young on a have see can of being we left ships years X% the a chart in of side age XX old. with profile slide, over fleet
of schedule operate. in book, to However, anticipated for smaller XXXX concentrated the vessels order older fleet. in the reflect our a mainly current as which delivery of chart is right shows percentage which classes The side the the XXXX are The the of our order ships the any fleet expressed figures onwards. deliveries containership circled the the growth the and stands scheduled the the majority Currently, XXXX book, to summary market. and scrapping fleet XX, before for are we of slippages. second containership total of for the discuss slide at containership outlook XX.X% half Please turn where
fleet continuing sector a disruptions moderate to and with in container alongside support of mentioned, while growth firm contributed short has XXXX. causing uncertainty delays and throughout still outlook of global are a trade the Chinese previously conflict suggests for port demand congestion inflation, The medium-term analysis and likely the to the continue easing to this provide bottlenecks. remains lockdowns supply to the Ukraine-Russia year, positive, continued market As X%. rising Supply in
ease. demand are system to In implications a currently which These lockdowns remain depend near-term. what persist, could if on in to recovery the term, material levels, once fundamentals local the transform expected the addition, production could transportation first, Longer be of: disruptions logistical are affecting are will interplay end. but rapid lockdowns Chinese to once they bottlenecks predict vessels will also and for though, the harder have
world containerized Ukraine-Russia growth fallout the trades. the and and Second, effects its of conflict on economic
slow by easing of from And capacity result increased environmental growth. of it the material steaming the whether in effectively, and due deliveries to further from which new XXXX congestion overtake will removing effect XXXX-XX, will lastly, the pressure Thirdly, probably market. regulations onwards, supply and and demand
X,XXX XX. left-side Slide containers rates a to of the move charter TEUs shows of Let's the The of since with slide evolution XXXX. for time one-year capacity
time the X,XXX capacity at old slide the at containerships we side $XX,XXX threatened charter last the high one-year highest range decade. and per such The discussed, witnessing week, prices According rates price the TEU, shows has in the of of XX-year TEU the daily the derail charter the with $XX day. As for for of stood over all are historical There have last highest price no end right-hand X,XXX Clarksons, rate doubt containership to point, charter some the correct world last decade. a to of million the that the and shipping rates is current of is which globalization. as of costs to
will advantage more presented normalizes. doubt way these Astronomically facts conditions of markets high strong company opportunities no storm over financial continue margins I come. sometimes to to once new our will prepared in will when also will accordingly company positions to the any further come. enough spotted, give current will market, but weather that trade CFO, the maintain recognizes The a that, take opportunities pass for of may to vessels go today highlights are sheet built but throughout the detail. Tasos our the Aslidis, of Euroseas and to are balance correction be rational right floor growing by and the with that now And the
