Financial Performance - The company's TCE for Q3 2025 was USD 236 million, an increase from USD 208 million in Q2 2025[7] - EBITDA for Q3 2025 reached USD 152 million, up from USD 127 million in Q2 2025[7] - Net profit for Q3 2025 was USD 78 million, compared to USD 59 million in Q2 2025[7] - The company's basic earnings per share increased to USD 0.79 in Q3 2025, from USD 0.60 in Q2 2025[30] - The dividend per share increased to USD 0.62 in Q3 2025, from USD 0.40 in Q2 2025, with a dividend payout ratio of 78%[30] Market Dynamics - Trade volumes in Q3 increased by 4% compared to Q2 and 2% year-over-year[16] - The product tanker capacity trading CPP is down by 1% versus nominal fleet growth of 5%[26] Fleet and Strategy - The company's fleet size remained constant at 88 vessels between Q2 and Q3 2025[7] - The company acquired one 2010-built LR2 and four 2014-built MR vessels and sold one 2007-built MR vessel[9] Outlook - The company expects TCE earnings to be USD 875 - 925 million and EBITDA to be USD 540 - 590 million for 2025[54] - 55% of Q4 2025 is covered at USD 30,156 per day[53]