Achieved the second-highest adjusted net income in company history at $65.6 million for 2025, driven by consistently high LPG charter rates over the last four years. Completed a multi-year strategic deleveraging program, repaying $350 million since 2023 to become one of the only debt-free quoted shipping companies. Experienced a fourth-quarter performance dip due to idle time on larger vessels and the continued out-of-action status of one Medium Gas Carrier (MGC). Strategically positioned over two-t ...

Konstantinos Sistovaris, who reviewed the financials, said fourth-quarter operational utilization fell to 89% due to dry dockings and increased off-hire days related to spot exposure, “especially on a couple of the larger vessels.” While fleet days rose 3% year over year, the lower utilization weighed on revenue. He added that operating expenses were $12.7 million for the quarter and “well contained,” while G&A, depreciation, and interest expense declined, with interest costs reduced by $1.4 million after t ...