GoodBulk ltd. Reports Net Profit of $3.1 Million as First Quarter Capesize Market the Best Since 2014
GoodBulk Ltd., a leading owner and operator of dry bulk vessels, announces its financial results for the first quarter of 2021.
1st Quarter Highlights
• Generated $15.4 million EBITDA and $3.1 million of net profit, after $10.2 million depreciation, resulting in earnings per share of $0.10.
• On 2 March 2021 the Board of Directors authorized the payment to Shareholders of $10.2 million ($0.34 per share) as capital repatriation.
• Ended the period with a cash balance of $24.8 million and net working capital of $22.5 million, totaling $47.3 million.
• Earned an average gross Time Charter Equivalent rate (TCE) of $14,592 per day on our Capesize vessels and $12,954 per day on our Panamax vessel.
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The ACP said the delay would provide the maritime industry more time to prepare for the change in booking fees.
Clean tanker shipowners operating in the Americas anticipate the increase in booking fees will have to be passed on into freight for voyages transiting the Canal. Medium Range owners believe the rise in transit prices and lengthening wait times require historical distance differentials on west coast discharge ports to adjust. Since the implementation of the Freshwater Surcharge fees on Feb. 15, 2020, owners have reported daily Time Charter Equivalent earnings for voyages through the Canal much lower than other US Gulf Coast-loading routes.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Overseas Shipholding Group Reports Fourth Quarter and Full Year 2020 Results
April 7, 2021 GMT
TAMPA, Fla. (BUSINESS WIRE) Apr 7, 2021
Overseas Shipholding Group, Inc. (NYSE: OSG) (the “Company” or “OSG”), a provider of energy transportation services for crude oil and petroleum products in the U.S. Flag markets, today reported results for the fourth quarter and full year 2020.
Highlights
Net income for the full year 2020 was $30.0 million, or $0.33 per diluted share, compared with $8.7 million, or $0.10 per diluted share for the full year 2019.
Net loss for the fourth quarter was $844 thousand, or $(0.01) per diluted share, compared with net income of $11.0 million, or $0.12 per diluted share, for the fourth quarter 2019.
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Overseas Shipholding Group, Inc. (NYSE: OSG) (the “Company” or “OSG”), a provider of energy transportation services for crude oil and petroleum products in the U.S. Flag markets, today reported results for the fourth quarter and full year 2020.
Highlights
Net income for the full year 2020 was $30.0 million, or $0.33 per diluted share, compared with $8.7 million, or $0.10 per diluted share for the full year 2019.
Net loss for the fourth quarter was $844 thousand, or $(0.01) per diluted share, compared with net income of $11.0 million, or $0.12 per diluted share, for the fourth quarter 2019.
Shipping revenues for the fourth quarter 2020 were $97.5 million, down 0.9% compared with the fourth quarter 2019. Shipping revenues for the full year 2020 were $418.7 million, up 17.8% compared with the full year 2019.
S&P Global Platts Launches Tanker TCE Assessments for Europe
First Regional High and Low Sulfur Prices Reflect Vessel Revenues on Key Routes
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LONDON, April 1, 2021 /PRNewswire/ S&P Global Platts ( Platts ), the leading independent provider of information, analytics and benchmark prices for the commodities and energy markets, has launched new daily Time Charter Equivalent (TCE) assessments on four key Aframax routes originating in Europe, effective April 1, 2021.
Peter Norfolk, Editorial Director, Global Shipping & Freight, S&P Global Platts said
: The European tanker market has lacked relevant pricing that reflects the market fundamentals of net daily revenues of crude vessels operating on the key routes in the region. We are pleased to launch these world-first assessments in response to growing interest from market participants wanting transparency on tanker earnings on the main European shipping routes .