Financial Data and Key Metrics Changes - In Q1 2025, the company achieved revenues on a TCE basis of $79.3 million and adjusted EBITDA of $56.4 million. Net income was reported at $44.1 million, equating to $0.27 per share. After adjusting for a $19.8 million gain on the sale of a vessel, the net profit for the quarter was $24.3 million, or $0.15 per share [6][7][10] - The average TCE for vessels in the spot market was $36,300 per day, while vessels on time charters earned $42,700 per day, resulting in a combined average TCE of $38,200 per day for the quarter [6][10] - The company ended the quarter with total liquidity of $277 million, consisting of $80.5 million in cash and $196.2 million available under revolving credit facilities. Financial leverage was reported at 16.9% based on market values for the ships [7][10] Business Line Data and Key Metrics Changes - The company sold the DHT Scandinavia for $43.4 million, recording a capital gain of $19.8 million during the quarter. The proceeds will be allocated to general corporate purposes, including investments in vessels and share buybacks [10][17] - Two time charter contracts were entered into: DHT China at $40,000 per day for one year and DHT Tiger at $52,500 per day for one year [10][11] Market Data and Key Metrics Changes - The company expects to have 780 time charter days covered for Q2 2025 at $42,200 per day, an improvement compared to the prior quarter. The current spot market is strong, with an estimated spot P&L breakeven of $17,500 per day for Q2 [14][15] - The VLCC fleet is projected to shrink as demand for services grows, with an estimated 441 VLCCs older than 15 years by the end of 2026 [21][22] Company Strategy and Development Direction - The company aims to fine-tune its fleet profile based on customer feedback and market conditions, focusing on investing in ships rather than share buybacks or further strengthening the balance sheet [29] - The company plans to expand its fleet with four new ships in the first half of 2026, which will provide additional earnings days [18][19] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the market, noting that OPEC's strategy could lead to a robust summer market, which is atypical for the season [55] - The company believes that both scenarios regarding Iranian sanctions could positively impact the VLCC business, whether sanctions are lifted or maintained [60][61] Other Important Information - The company declared a quarterly cash dividend of $0.15 per share, marking the 61st consecutive quarterly cash dividend [12] - The company acquired the remaining shares in Goodwood Ship Management for $6.1 million, fully integrating it into DHT's operations [19] Q&A Session Summary Question: Decision on vessel sales and cash allocation priorities - Management indicated that the decision to sell older ships was based on market conditions and customer preferences. The allocation of cash for corporate purposes, investments, share buybacks, and debt prepayment is not in a specific order but depends on market opportunities [27][29] Question: Appetite for extended contracts and profit-sharing structures - Management expressed excitement about the long-term time charter contract with DHT Appaloosa, indicating a potential shift towards more extended contracts and profit-sharing arrangements [33][35] Question: Impact of OPEC's production increase on the market - Management noted that while it is early to predict the exact impact of OPEC's production increases, they expect to see more cargo in the market, which could positively affect VLCC demand [39][40] Question: Fuel spreads and macroeconomic impacts - Management discussed the current state of fuel spreads and indicated that while the market is dynamic, the relationship between demand for different fuel types could influence spreads [44][46] Question: Future of the VLCC market with potential Iranian oil re-entry - Management outlined two scenarios regarding Iranian oil sanctions, both of which could be positive for the VLCC market, depending on whether sanctions are lifted or maintained [60][61]

从供给看，一季度，"我的钢铁"统计 121 家电炉企业产量同比增长 2.0%，"钢之家"统计 137 家电炉企 业产量同比增长16%。3月份，我国螺纹钢产量增长5.6%，线材产增长 8.5%，均高于同期我国粗钢产量 4.6%的同比增幅；4月上旬和中旬，钢协重点统计企业粗钢产量同比分别增长4.0%和 5.2%。上海螺纹钢 价格从 2025年3月13 日的 3340 元/吨下降到4月 22 日的 3160 元/吨，下降 5.4%。3 月份以来钢铁供给较 快增长而需求下降，打破了来之不易、十分脆弱的市场供需动态平衡，钢材价格持续下行，市场供大于 求的态势未变，行业自律仍需加强。 新浪合作大平台期货开户 安全快捷有保障 2025年4月29日，中国钢铁工业协会召开信息发布会，中钢协表示，国内需求下降趋势未改、结构调整 的"阵痛"仍在。一季度，多数会员企业积极响应钢协要坚持"三定三不要"经营原则的号召，把好节奏、 提升质效，不再追求往年的产量"开门红"，努力实现效益"开门红"，一二月份企业控产较好，钢铁产量 没有出现大幅增长，同期原燃料成本下降没有带动钢价过多下跌，行业运行总体平稳。但国内钢铁市场 需求仍处于下降通道，一 ...

Costamare (CMRE) Q4 2024 Earnings Call February 05, 2025 08:30 AM ET Company Participants Gregory Zikos - CFO & DirectorBenjamin Nolan - Managing Director Conference Call Participants Clement Mullins - Analyst Operator Thank you for standing by, ladies and gentlemen, and welcome to the Costa Mare Inc. Conference Call on the Fourth Quarter twenty twenty four Financial Results. We have with us Mr. Gregory Zikos, Chief Financial Officer of the company. At this time, all participants are in listen only mode. Th ...