morning, Good our for you the for call of results today’s Aslidis, for joining discuss period gentlemen, our today Tasos The is purpose our us call. me financial thank ladies XXXX. is March three and to XX, with Officer. ended Financial Chief conference all scheduled and months Together
Let the presentation. X slide us to turn of
are shown financial Our quarter first highlights here.
total quarter of attributable net first we net $X.XX million, of of the per and XXXX or to $XX.X million For $XX.X revenues shareholders reported income common diluted share.
A the at million. or presented diluted share. common is release. per $XX $X.XX Adjusted press to and of income net million, income adjusted the shareholders to EBITDA attributable period for $XX.X Adjusted shareholders adjusted in attributable stood was common EBITDA net reconciliation
X, $X.XX quarter on to This dividend XXXX, about is are declared fifth of $X.XX that dividend stock for which is June we of the the the XXth XXXX. a first As plan, of Company’s common paying. share part quarterly June shareholders on of dividend common Board record consecutive Directors per the or payable our of
in was $XX total May repurchased XXX,XXX up about of under in for of of share As X% XXXX, of stock which representing our of million. May repurchase had our million, stock market, plan common announced our to XX, XXXX, $X open we about the a
over Our in later the financial CFO on will Aslidis the in detail presentation. Tasos more go highlights
slide and sale developments. we a recent turn operational discuss to chartering purchase, and where X Please
XXXX, previously on newbuilding an delivery Company South took announced As containership X,XXX April built vessel, X, its Dockyard Korea. from the Mipo teu vessel first Hyundai of feeder eco Gregos, motor in
Tier financed system. including funds AMP, The linked vessel is by and with III S.A. was Phase sustainability-linked sustainability of EEDI equipped loan a The combination and acquisition installation of a X Eurobank power provided maritime alternative features other a compliant own with engine an and
its a daily delivery, gross to vessel with rate Asyad XX at day. motor XX commenced Lines of Gregos the per charter $XX,XXX month Following
May but our in resilience the expanded rate, short XXXX the duration and of contracts than vessels at market due that were apparent April supply. also the vessels that be in feeder of reflecting will charters were the of belief that and better Two whose were anticipated,
day. period per contract day Earlier day. of $XX,XXX months a at Motor vessel during this was XX months the months between per Express the minus whilst XX extended minimum period period motor Hydra XX day, was XX $XX,XXX a rate extended a vessel $XX,XXX at EM days the at months for gross and of daily Aegean period, was was to fixed $XX,XXX rate to Kea of months, six -- XX Synergy charter daily of plus and maximum period XX of for Keelung for per EM fixed XX the four of or time a charter
against charterer who then difficulties as the of to repudiated were with assets. CSL, of we the experienced going February expect Continental Line drydocking enforcing which its approximately They XX we Aegean CSL, win, face Xth award then [Indiscernible] but Shipping completed to seems we expect whilst its on and trying days, in hide be Singapore, time idle its to charter. Express to
turn fleet on our the fleet see average intermediate is of you profile. current XX Please and XX and Euroseas’ TEU vessels container XX.X years current with of slide a can comprised water, containerships, of XX,XXX where feeder carriers about age carrying to capacity X, X including an old.
TEU with X, of containerships, will TEU QX consist each buildings, each, total capacity XX,XXX carrying Turning under feeder have vessels vessels capacity carrying containerships, of a be TEU. X X of of XXXX to XXXX. feeder delivery we present and and we about of our expected X these eco XX,XXX to capacity with consist carrying the with X construction, of a which TEU. XX X,XXX slide X,XXX capacity With After a of new between QX fleet the delivered a
for Let’s employment. vessel now slide turn graphical to X of our the presentation
our see, being fleet very may for coverage XX% deliveries. almost XXXX have about newbuilding you figures take with we years, also the XXXX. for As fixed into strong the next charter throughout These of consideration and XX% two
in boosted Our to from per years the are excess by contracted generate the two share, revenues $XX the of rest which revenues uncharted next will of days. expected our over be further
developed operate. slide the years for which Turning in now segments how to mostly XX-month we to the time review last we charter have the X over X, rates XX
the at final year container the start the first during to during a XXXX, market of and following started with the XX-year mid-May months weakness quarter levels, the than higher through XXXX, charter all While across improving soft sitting segments rates healthy levels. average containership charter market the saw rates median
TEU day charter the TEU containership per the for per X,XXX rate to XX,XXX rate X whilst $XX,XXX is As stood at day. containership of last Friday, for X,XXX time the at stood XX-month
some slide further market go highlights. Moving over on XX, to we
quarter XX% XX% the first of low XXXX the continued During average segments quarter down to as the rate The of XX% for first shown quarter of have each was compared fourth time of in to increased XXXX all by during but the February charters charter table. to one-year XXXX, about to levels since by daily XXXX. during ease compared
The macroeconomic of due current headwinds transactions general throughout entering many the negative the uncertainty environmental quarter impact apprehensive sentiment as into about regulations. given parties and the the first remained remained new to
roughly XXXX remain have Newbuilding amid some stable a over prices generally yard eased months in XXXX sizes little but QX QX inflation in and and compared cost recent elevated cover. were to forward extended
quarter since. containership has April about XX, about vessels XXXX ton. XXX,XXX in which at XXXX the with XXXX The as scrapped. trending average. fleet, about This This ideal XX% anticipated has Recycling per QX XXXX being XXXX of remainder the fleet down of XX activity of stood and above a the which prices Scrapping in of is picked trend X%, X.X% to lightweight higher first to February for showed continue XXXX. modest peaked during been is ever the improvement at
containership the grown by reactivation. fleet approximately idle vessels Finally X.X% has without year-to-date accounting for
lowered Ukraine With update due growth this Russia IMF slide This XXXX, inflation, between X% geopolitical is war tensions. in of global settling slightly this turn Please and growing slowing and to April XX. estimate policies, to tighter X.X% the for effects ongoing the primarily as well XXXX. in as activity, high latest the to GDP year, before to economic monetary
China recent growth by Also to and of longer in However, Quite track previously this XXXX a and Growth -- achieve grow for to growth expected longer outlook on quite India economic year, XXXX more trend. projections this estimated on financial X.X% for moderate with X.X% was followed to seems growth emerging in XXXX, the higher in economic under X.X% the countries rate X.X% be versus for the term by resilient, Russia’s to to in the than from IMF and is quite trends U.S. base, X.X% expected. which in noticeably, to an it XXXX, shocks, X.X%, despite be XXXX. EU is XXXX. X.X% revised of poised markets seem sector. lowering primarily below [ph] developing XXXX and from growth term for X.X% is
According estimates, contract to trade the projected latest X.X% to XXXX. Clarksons container in by is
trade growth the as growth being at ease XXXX, in on the continuously economic sector, as with are Rate world being revised trade should to start geopolitical improve financial tensions in and and are and effects projections growth headwinds trade inflation projected X.X%. assessed. However,
age see orderbook. percentage or is old most over fleet. containership the XXXX. fleet XX.X% XX the of and as where The largest percentage fleet total potential years high within XX the can May years which The XX% only to orderbook under and slide though with vessels total turn type of of XX, stands feeder containership Please fleet suggesting you young of fleet relatively old, a the at vessels, profile high of for this lies of as recycling
with half XXXX in the versus for for first X.X% for the current XXXX and delivery of new X.X% to of in the and the XXXX. XXXX, deliveries beginning second about deliveries expects the the be XXXX XX% in XXXX, of scheduled Clarksons of majority delivered half of fleet
we slide stands operations our fleet of Turning in program. backbone and newbuilding and years Together sized The Clarksons, been old primary the XXXX XX, the be vessels now ships go more this orderbook May the sizes expected could are and to insurance X.X% the detail. of already to than X.X% here containerships in TEU XXXX. new XX the the as feeder figures. for has of X,XXX According to older These range even is decline X.X% XXXX. of deliveries focus X,XXX for our orderbook age for in XX% to just over XXXX of in profile vessels suggests that fact [ph] that the with delivered, in are fleet XX% X.X%,
as below totaling second time year-on-year. the In the the softening container the container regions. XXXX. newbuilding the XXXX freight some pick event, couple half at now the where January fallen reversal also months congestion last in lately. remainder than standing Let’s compared port containership but volumes, still admirable move discuss possible recovered XX, for relative outlook level X% peak increasing time X.X% Despite slide lower to to The as course released markets months. of the pre-COVID the as rates charter fall up in to index is year, XX-year of It volumes above significantly our of the bottlenecks strong of pre-COVID any the congestion is Container stands XXX% pace last increasing and easing and has even of gains bit well and of are average. the levels of of summary portion Container a have effective recent fleet, during a year. second reversed by January XX-year deliveries also XX% at Further deliveries, XXXX half The the market sector. of above X% supply. still XXXX projection remain expected in shown the in though good to we vessels charter resilience for the
brought. congestion the offset However, the has supply at the the of slowdown in vessel increase end
There challenges overall large very are supply predict difficult. due developments, which Thus the is the determining to but demand on the hard ahead, also volumes macroeconomic quantify. still are future mainly to side and and shipping
XXXX vessel second remain some consecutive of onwards, second is may extent. The Market performance congestion if not market expected inefficiencies, to capacity this as positively. fleet will to will containership sector, as remain to of that half alleviate challenging due of a and management, the that conditions energy decline range transition already other unknown such XXXX, to From speeds could another affect sensitive again, are happen the the expansion. in probably does a pressure year substantial rates
uncertain. The to it’s long-term we is between vessels charter the achieved can lower speeds expected taking short-term the thing outlook older spread is a relative shift that probably vessels the intricate availability. shrinking place, thus While expect to increase. that rates further is is is eco by sure that in vessel One evident
relatively of operate vessels perform Smaller a healthier to to size in, lower vessels, are new we situation. mainly deliveries, these potential the pointing of the supply better number scrapping all segments expected overaged due to and
trades cascading this to the served mitigate currently an by of Without could to size doubt any though, larger distances extent. vessels
of X,XXX The Let’s XXXX. containers of the chart time TEU move a one-year to slide XX. charter shows with capacity left since to evaluation rate
per $XX,XXX highs charter the market has in time exceptional normalized industry’s one-year rate the currently Following now day. standing XXXX, with
a a higher the very level profitable much I too. this said, level As and historical median is than
contracting backs up The activity solidly. moves we far shows been concurrently chart very a relatively contacting range historical prices inflation right two yards newbuilding and the capacity newbuilding of few XX-year old containerships at has TEU. past Total with levels of hampered so years for inflation of distributed hand ship the though high over year, newbuilding with X,XXX prices remaining the this on the Even rising activity believe environment. between
level since have $XX Prices May million, hand XX-year still skyrocketed $XX around for million. a second $XX.X million old significantly higher in eased the XXXX containerships to to than
steady about will we environment, our dividend, recent since a shareholders of our investment annually, their on In very our opportunity, believe repurchase currently we share value. by represents our intrinsic which which executing XX% reward XX% at trade program, and continue attractive yields quarterly through to shares
contracted sole and with delivery our take revenue new Our to us same will that healthy opportunities incrementally at remaining XXXX to low at rates XXXX growth. eight allow increase continue building vessels coverage throughout risk and earnings investment of also will the evaluate and the time,
that, with floor And CFO, in to will go Aslidis I our financial further to Tasos pass over the our detail. highlights
