Good me to morning, our for Together today's The is you of call. all financial scheduled our XX Aslidis, conference and XX, today with thank joining purpose us the December for Mr. Chief Financial X XXXX. for Tasos call our Officer. period gentlemen, results and months discuss is ladies and ended
Please Slide to turn X of the presentation.
are Our here. financial shown highlights
diluted was total EBITDA or controlling and of $XX.X for net per revenues basic for $X.X quarter $X.X net to Adjusted attributable period we million net loss attributable Adjusted $X.X and shareholders $X.XX was of controlling For loss million. reported the the million XXXX, million shareholders share. basic quarter fourth a loss or the share. diluted of to per and $X.XX
high impairment net of for for the the relatively EBITDA. X loss million was purchased on Please by detailed The elder an recognizing paper reconciliation refer adjusted loss the single adjusted at press $X.X which a vessel release which price. had to we incurred we biggest the and loss quarter
in CFO, highlights over will on the presentation. the Tasos later detail Aslidis, financial Our go in more
Since announced common and the market a we twice million to plan in XXX,XXX our total our of up the of XXXX XXXX, until August date, open in $XX August million of for shares extended stock repurchase have of initiation to proceeds. $X.X repurchased in
to current We will share price continue program the execute repurchase around share levels.
by this quarter, to our X a of further completed million million. which successfully refinancing loan, reserves the vessels During about we $XX increased our of $XX cash
contract for new Nantong X Ultramax The quarters geared to and ] about Both recent construction with of turn for of developments. the In vessel [ design XXXX. standard. scheduled EDI a is the by we our X for Slide combination are Xiangyu each XX,XXX to debt Phase Shipbuilding bid of X and Agogo builds a signed during ] equity. third will vessels The Please X November deadweight second [ million ] delivered are $XX and a and be XXXX, to financed carriers. bulk [ consideration be
in built expected vessel and upon to sale vessel of expected motor to million. third by eldest the vessel on an a approximately is cash. for Panamax the delivered charter. be sold vessel buyers party early fleet for the $X.X XXXX be deadweight our $X XXXX, its vessel Motor and present to bulk in gain affiliated million March we XX,XXX of Additionally, The dry Tasos, is demolition the completion is in approximately Tasos
flexibility the fixtures their majority of of term, employment. for duration, chartering between to the our front, is the XX ranging minimum short to us XX days On duration according providing future
maintain in Throughout full scheduled dry allowing no the the repairs, dockings specifics the the quarter, of various to see or were can charters there us presentation. accompanying operational You efficiency.
the during quarter, off-hire commercial experienced had we XXXX. off January Blessed motor X-day commercial Luck hire vessel While committed in a no
dry X Slide including X X fleet XX bulk of Kamsarmax Supramax to turn consists vessels, currently EuroDry's Please Ultramax, carriers, bulk the X dry Panamax carrier. and
a tonnes. vessel bulk years Tasos, of After age EuroDry's Our Not to approximately cargo carriers of total the XX.X March expected Tasos, motor currently. deadweight years fleet consist sale XXX,XXX of have the capacity which early drop the by XX.X will including will XX XX from vessels. dry XXXX, is average
As set is the motor by of the Project referred and as of to owners entities represented XXX,XXX own vessels EuroDry that is XX% Maria. The of buildings, second owns capacity third NRP XX the carrying which and Finance, owned a dry the of with investors. a XX% just to increase otherwise and Christos reminder, in million company's delivery X tonnes by vessels NRP Upon remaining fleet deadweight to will take quarters deadweight. under place new the XXXX, bulk
This are which our percentage index Please on employment. on through excludes update ships is but turn coverage X to XXXX charters, Slide employment. market open fluctuations the have fleet secured approximately XX% further for Fixed charters. for existing to rate
Our short-term vessels deemed long chartered to under are be charters until for rates enough rise beneficial. charters
the XX% and day charter during Index $X,XXX day period, X. Similarly, a average quarter time Panamaxes dropping go per to charter last Index December the quarter, spot by average sharp with Baltic day $XX,XXX $X,XXX stood spot of Baltic vessels rate a up the XX, in day, rates. fourth vessels market for recently. XXXX, day Panamax for contractions for in about Both respectively. Slide X-year and the We ended dropping during Dry the by per the to was until to $XX,XXX December. decline over In XX%, per end the QX the QX. decline per of experienced show Panamax Panamax rate and quarter Turning X-year the The the highlights X-year at both XXXX, for time
in increased same to from XXXX vessels rates XXXX, XX% the XX%. February charter period. spot However, for time by Panamax by have X-year XX, similarly, rates the year-end time rebounded And have
the spot we to $X,XXX less about QX. ] corresponding On and [ rates. drops than saw are per charters rates Supramax but Panamax X $X,XXX Panamaxes, higher side, than the about less day Currently, in violent $XXX year
to Slide turn only yet the GDP predicted showing date from projects somewhat X.X% October for slight later This forecast, X.X% X.X% estimate IMF start growth underwhelming January from stable 'XX. improvement Please growth of XXXX. also in The a global to XXXX economic is GDP X.
advanced this While or the growth to in seen X% grow revision X.X% particularly seen stable upward which at have to in economies, contrast in either with around only. U.S. our stark has stands downgrades an other in outlooks Europe, growth forecast XXXX,
trade collectively pose risks reversal, geopolitical administration's the conflicts, new Adding inflation policies and the medium-term to changes uncertainty, this concerning expected U.S. and prospects. still to Global rapid decline. growth to policy particularly is
wages services persistent world, near-term the price However, may trajectory of the still inflation policy be parts challenged to several in stability leading the synchronized to with and responses. monetary
will the upside, led to increased the given of this the be and be global slightly geopolitical outlook China. and revised to upwards, by in continue year pressures ASEAN-X as and property markets. domestic appears tilted face prospects to of falling with tepid countries India, deflationary next growth but year markets inflation demand, persistent to X.X% demographic X.X% tensions global fashion, continues the and protectionism, Emerging drive country the growth, lopsided China's projections constraints. the Risks to
the India XXXX key agricultural robust both strong sector, in by projected and investment performance XXXX, of activity, continued driven maintain which of economic is to in expansion remains steady and growth. engine growth services X.X% economic a
countries benefiting are positioned growth, and Asian demand also solid momentum. Southeast for investment regional from
just dry for Clarksons' the Entirely from XXXX. levels a more bulk challenging in trade, X.X% period by issues, due in to XXXX ahead followed indicate growth to stagnant decelerating sharply in XXXX, forecast global with demand GDP trade X%
regulations the ceasefire, Sea outlook bulk normal and a offer remain rate of geopolitical shipping swift return the remain In tensions, we Gaza key cost. impact of some risks despite While geopolitical these growth supply constraints risks sector, and could given for cautious and which dry the environmental in medium the macroeconomic operations unlikely. persist, evolving may projections, light Red support, to
Slide XX, the we sector. Please where current in bulk the of review turn the dry order to book state
levels. of as just book the 'XX, currently standing the at February historical order of fleet, As can lowest is you still among the see, XX.X%
Slide Turning to XX.
more in Let bit supply us a fundamentals look into the detail.
to total of of in XXXX X.X% fleet scrapping According deliveries report, XX,XXX XXXX, new a in was to latest growth slippages. in aforementioned vessels. of to X% than course, total dry operating fleet figures is, percentage be are The the onwards. XXXX, bulk X.X% and fleet vessel As and expected due as Clarksons' February lower XXXX the be to actual expected
as environmental of If ] -- of the works a scrapped up growth. reopening be and of scrapping within Factors years fleet, that fleet than then of constrain increased next steaming, regulations we fleet available XX XX% further of years, with the higher X were such tightening is slow would bulk the to [ the whilst, X has the older in that loss could the opposite direction. course, rates Suez slimming the
to turn outlook we market. our Slide where Please the dry for summarize XX, bulk
smaller XX% Canal results, Ultramax As Ultramax with already contributed reached the mixed Kamsarmax rates of such some year-over-year, Capesize the reflecting easing bulk said, -- vessels post gains experienced and average The fourth broader a and bulk multiyear pressure segment carrier of weakness. market, with which The falling contributing charter the categories the in declines. decline placed the market on lows. reopening Kamsarmax vessel experiencing in faced the and charter XXXX, Panama to by expectations while as of congestion underperformed rates, additional for trade dry to significant market quarter Street
outlook suggests to in slowing China key is imports, robust Looking bulk seen A ahead, not softer factor growth to are carrier the XXXX market dry XXXX. match XXXX. compared and the XXXX demand bulk a expected which
to price. supported given structural While high the substantial are persistently demand, sentiment, especially measures feed they stimulus recent government stock unlikely the to improvements in have
sector U.S. particularly disrupt factor bulk Mexico a the dry China, emerging Additionally, and to could measures. new Canada policy and administration. minor is if trade, led from escalating bulk retaliatory for under Tires trade grain as the tensions critical trade Trump
the Chinese an the they pass consumer. normalcy as will expensive in the the on facing risks will could disruptions region main to initial to perhaps panel be in further yesterday unresolved. My Sea U.S. to extra Gaza not announced to is vessel to dry adding and make the Despite only and of U.S. to near the return any measures unlikely that demand Trump geopolitical Red products challenges to [ remain reaction in their more ] fees Sea consequence the is regarding ceasefire, bulk Red imported shipping the calling term, market. the constrain the growth, easing is however, U.S. Meanwhile,
order The primarily the of and potential future surrounding fuel to However, capacity ratio amid on and historically recovery constraints fuel levels, a demand remained the charter [ growing could orders LNG vessel has ]. uncertainty low create of to if due strengthens. which shipment limited, a for supply a book methanol ordering side, relatively the number fleet at remains the backdrop rate
across differ classes. trends vessel However,
to immediate. While Ultramax [ Capesize near but and medium historical order books be renewal are may ] less returned historical fleet is versus levels, remains Panamax comparatively meaningfully younger, lows, the
excluding Furthermore, mitigate the operational Fuel constrain by availability. speeds. new market vessel to through lower and environmental expected supporting effective reducing are could help EU capacity, EU scrapping These further tonnage regulations, ETS EEXI, excess CII, fleet increased the and supply measures regulatory
Slide XX. Let's turn to
bulk February is the market $XX.X a per with the a carriers prices $XX.X of Meanwhile, for above of XX-year medium million. day. week $XX.X deadweight for per remains the time ships of below X-year Panamax charter than XX, As historical ago, tonnes day, relatively well higher current at average strong, old and slightly million XX,XXX of $XX,XXX million, but Panamax XXXX, with of historical rate the $XX,XXX the medium at capacity
fourth of of asset the decline of However, a peak $XX.X the million, broader as experienced market quarter have mid-XXXX notable reflecting values XXXX, from softening.
Aslidis, drop prices profitable let We floor the vessels. various that, pass in to further, fleet market X again. able detail. to If also CFO, dropped, be If our the will with will vessel or closely monitoring the we highlights more are go markets improves, X And become financial more charter over the Tasos to consequently, over acquire developments. me current and our
