Thank you, welcome of and today. to all us joining those Mark,
flow results TCE and returns financial by quarter cash strong operating premium are second continued generation. Our highlighted
were market in Second within period, by rates and $XX,XXX day, for performance. quarter Panamax contracts key X% approximately our and published rates in which for average supported TCE the trade per locked Supramax which rates of is approximately vessels routes our strong the of over affreightment, cargo a demand Atlantic premium
compared quarter year EBITDA $XX.X adjusted to million. for Our the was prior at flat the
higher adjusted market points total days charter to growth XX.X% higher in expenses operating margin vessel XXX as decreased and shipping year-over-year. rates Our basis EBITDA hire and offset
Our a total when to in a expense total increase to due Panamax days quarter XXXX, the increased market by rates XX% hire in and charter for and XX% charter-in of increase Supramax X% compared the prevailing second vessels.
per on Our expenses net through of day $XX,XXX XXXX. day third approximately the day in X,XXX And the at per $XX,XXX operating cost of quarter. quarter a management we've per was today, days basis increased Vessel for by last booked of fees expenses second second in charter-in to quarter per by year second XX% driven day expenses The the of day of primarily in year-over-year day per of incurred XXXX. XXXX increase versus 'XX. average $X,XXX the was an timing from quarter in per X,XXX technical
day. period XX, However, operating only vessel X-month ended by expenses, increased net X.X% from to for fees $X,XXX management $X,XXX June of the technical per
in million our was for diluted per or net total, quarter million $X.X Pangaea the second per of share reported $X.XX $X.X compared to diluted second income $X.XX last the year. share GAAP quarter In or to attributable
diluted attributable when adjustments, instruments excluding of second When reported from the was as derivative million net quarter impact during non-GAAP $X.X well to loss income which of the our adjusted XXXX. $X.XX quarter other was Pangaea compared the as flat unrealized to the per share, or
million working million debt, Total was flows. approximately profitability operations company year-over-year generation to the $XXX obligations as million cash by stable Moving the increased of and $X cash by cash including to capital. finance cash by approximately end, from improved had quarter in on bolstered $XX.X total At lease $X.X net million.
$XX payment active an refinance paid quarter a on Bulk Independence X Bulk only million was and subsequently $XX second new perspective, facility credit Endurance the We million. was from Pride, facility the Endurance, Bulk balloon earlier, a for utilized which the the to initially mentioned as of million. entered approximately Bulk $XX.X we final financing Mark As into off
balloon of and rate will initial in facility capacity point XXX is Brenton, which $XX.X Bulk and interest the delivered Patience, which plus payable the a on million be spread. with the million July Bulk financing this be SOFR for in the X used remaining drawdown delivery of of The August, over will basis years of an at X-month $X.X maturity based payment delivered
years payable the on million a maturity with basis refinanced a Prudence plus we lender million over generating payment at $X.X with an balloon interest SOFR X-month July, X in rate point new $XX.X and of Bulk XXX of Further, cash a spread. based
of when market financings, our book is our completion is adjusted to after approximately basis, fair forma prior pro vessels, value total year XX%, which for XX%. is period. a the vessel to these debt value compared And flat On approximately when of
prior the trailing rates the fixed which interest During and ratio the to At income. quarter, debt X.Xx. of our debt, rate cap the overall nearly well our to as as rate interest year in interest expense second deposits, end EBITDA quarter, yielding to of relative was $XXX,XXX interest from remained adjusted XX-month generated due net the flat benefits
footprint in be focus capacity. opportunistic of maintaining capital growth our our our the onshore owned sheet term, order in expansion to balance nimble on through in will allocation near vessel the investments In continue
prioritize by return a believe which through capital continuing our of phases also dividend, We are can the consistent sustained consistent strategy market to we of as be evidenced all cycle.
we line questions. now for open With the will that,
