Financial Data and Key Metrics Changes - The company generated revenue of $2 billion in Q1 2025, representing a year-over-year increase of 28% [6][18] - Net income for the first quarter was $296 million, compared to $92 million in Q1 2024, marking a significant increase [23] - Adjusted EBITDA was $779 million with a margin of 39%, and adjusted EBIT was $463 million with a margin of 23% [7][23] - The average freight rate per TEU was $1,776, a 22% increase year-over-year, although it was 6% lower than the Q4 average [19] Business Line Data and Key Metrics Changes - The company carried 944,000 TEUs in Q1 2025, a 12% increase from 846,000 TEUs in the same period last year, outperforming the market growth of 4.5% [24] - Total revenues from non-containerized cargo, primarily from car carrier services, totaled $114 million, slightly up from $111 million in Q1 2024 [19] Market Data and Key Metrics Changes - Transpacific volume grew by 11% in Q1 2025, indicating a recovery in trade between the U.S. and China [24] - The company experienced a 22% year-over-year volume growth in Latin America during the first quarter, with expectations to further increase market share in this region [24] Company Strategy and Development Direction - The company is focusing on maintaining flexibility in fleet deployment and adjusting service rotations in response to changing market conditions, particularly in the Transpacific trade [10][12] - A recent charter agreement for ten new LNG dual fuel container ships is part of the company's strategy to enhance commercial agility and support long-term decarbonization objectives [14][15] - The company aims to strengthen its presence in Latin America and Southeast Asia to diversify operations and increase resilience against market fluctuations [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the recent suspension of tariffs between the U.S. and China, viewing it as a positive development but remaining wary of long-term trade agreements [4][5] - The company maintained its full-year guidance for adjusted EBITDA between $1.6 billion and $2.2 billion, despite uncertainties in global trade and geopolitical issues [8][26] - Management highlighted the importance of agility in responding to market changes and emphasized the need for ongoing investment in fleet modernization and operational efficiency [12][16] Other Important Information - The company declared a dividend of $0.74 per share for a total of $89 million based on Q1 results, consistent with its dividend policy [7][81] - The company reported total liquidity of $3.4 billion as of March 31, 2025 [7] Q&A Session Summary Question: What are you hearing from customers regarding inventory levels and expectations for peak season? - Management noted that recent tariff changes have revitalized demand, with customers eager to move cargo quickly to avoid inventory shortages, suggesting a potential early peak season [36][39] Question: How do you view the situation with the Red Sea and Suez Canal? - Management indicated that safety concerns prevent a return to the Red Sea, despite incentives from canal authorities, and emphasized the importance of a stable network [40][41] Question: Can you provide insight into the Transpacific contract negotiations? - Management explained that uncertainties in the market led to a 70% split between contract and spot volumes, down from an expected 50-50 split [47][49] Question: What are the expectations for volume growth in 2025? - Management adjusted volume growth expectations to low single digits due to slower recovery post-Chinese New Year and changes in partnerships affecting fleet utilization [50][53] Question: How much of your fleet is Chinese-built and what mitigation strategies are in place? - Management stated that nearly half of the fleet is Chinese-built and is exploring options to minimize the impact of potential fees on operations [62] Question: What is the outlook for Q2 profitability? - Management acknowledged the recent increase in demand and rates but cautioned about the uncertainty of how long this momentum will last [64][66]

Investor Presentation Q1 2025 FINANCIAL RESULTS May 19, 2025 Disclaimer Forward-Looking Statements The following information contains, or may be deemed to contain forward-looking statements (as defined in the U.S. Private Securities Litigation Reform Act of 1995). In some cases, you can identify these statements by forward-looking words such as "may," "might," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of these terms and other ...

Financial Data and Key Metrics Changes - In Q1 2025, market spot rates for Hetty Seizen and Supramax vessels averaged $8,000 and $7,900 net per day, respectively, representing a decrease of 24% to 36% compared to the same period in 2024 [3][4] - The average Handysize and Supramax daily time charter equivalent earnings were $10,940 and $12,210 per day, respectively, reflecting a year-on-year decrease of 11% [6][7] - The operating activity generated a daily average margin of $830 per day over $6,950 in Q1, representing an increase of 634% year on year [8][9] Business Line Data and Key Metrics Changes - Global minor bulk loadings increased by approximately 2% year on year, driven by higher loading of bauxite, cement, and clinker [4] - Global grain loadings decreased by 16% year on year, influenced by reduced Chinese demand and harvest delays in Brazil [4][5] - Global coal loadings dropped by 5% year on year, primarily due to an 11% decline in seaborne coal volumes to China [5][6] Market Data and Key Metrics Changes - Iron ore loadings declined by 7% year on year, mainly due to reduced Australian iron ore loadings caused by cyclones [6] - The Baltic Exchange Forward Freight Agreement average rates for the remainder of 2025 are projected at $9,120 for Hetty Seizen and $9,860 for Supramax vessels [3] - Global net fleet growth is projected to outpace demand growth, with dry bulk and minor bulk fleets estimated to grow by 3% to 4.5% in 2025 [12][17] Company Strategy and Development Direction - The company aims to grow and renew its fleet, maintaining a disciplined approach amidst market uncertainties [19][20] - The strategy includes purchasing larger and younger vessels while selling older ones, contributing to a 4% increase in total deadweight capacity [19][20] - The company is evaluating the impact of IMO's midterm measures on its operations and investments in dual fuel methanol newbuildings [21][63] Management's Comments on Operating Environment and Future Outlook - The near-term bulk market demand outlook is clouded by uncertainties from trade and geopolitical tensions, but potential shifts in trade flows could support tonne mile demand [10][15] - The company expects some support from ASEAN countries for coal demand, while iron ore demand may remain under pressure due to reduced Chinese domestic demand [11][15] - Management acknowledges the volatility in the market and emphasizes the importance of positioning for potential opportunities amidst uncertainties [34][58] Other Important Information - The company has covered 77% of committed vessel stays for Q2 2025 at rates higher than current market spot rates [7] - The company has a solid balance sheet that allows for growth opportunities despite market uncertainties [78] - The company is focused on optimizing short-term cargo commitments to navigate expected market volatility [22] Q&A Session Summary Question: Can you comment on the market rate expectations for the rest of the year? - Management indicated that the market has developed normally, with stable freight rates and ongoing activity despite uncertainties [30][34] Question: How is the company preparing for various scenarios regarding USTR? - Management noted that 70% of the fleet is Japanese built, which may present opportunities amidst regulatory changes, but emphasized the need for clarity on regulations [38][40] Question: What is the outlook for secondhand prices and potential buybacks? - Management acknowledged a slight improvement in secondhand prices recently and confirmed ongoing share buyback programs due to undervaluation [50][51] Question: What kind of trade shifts have been observed recently? - Management reported that there has been a general step back in trade involving the US due to tariff uncertainties, but demand remains for various commodities [72][75] Question: Can you elaborate on M&A opportunities? - Management expressed interest in M&A opportunities but emphasized a preference for organic growth while remaining open to potential acquisitions [78][79]

Jan Hatzius +1(212)902-0394 | jan.hatzius@gs.com Goldman Sachs & Co. LLC Alec Phillips +1(202)637-3746 | alec.phillips@gs.com Goldman Sachs & Co. LLC David Mericle +1(212)357-2619 | david.mericle@gs.com Goldman Sachs & Co. LLC Ronnie Walker +1(917)343-4543 | ronnie.walker@gs.com Goldman Sachs & Co. LLC 17 May 2025 | 10:29PM EDT US Daily: Tracking Trade with High-Frequency Data (Peng) Manuel Abecasis +1(212)902-8357 | manuel.abecasis@gs.com Goldman Sachs & Co. LLC Elsie Peng +1(212)357-3137 | elsie.peng@gs.c ...

14 May 2025 | 11:20PM HKT China Cargo Transport Tracker 3 key updates from high-frequency data points; restocking and frontloading may kick off post tariff deal As a follow-up to our 3 key findings from week 1 high-frequency data, we introduce datapoints on daily containership departures from China to US to more accurately track the direct China-US trade as proxies within this round of our cargo tracker report. By analysing the high-frequency data, we summarize three key updates: 1. China total container th ...

Group 1 - The global shipping market is experiencing a temporary relief due to a 90-day truce between the US and China, allowing market participants more time to adjust to higher worldwide tariff rates [1] - Despite the truce, uncertainty remains in the market, indicating that challenges may still persist for shipping companies [1]

Industry Overview - The oil and gas industry is susceptible to macroeconomic volatility and supply dynamics from large producers [1] - Some companies maintain resilience through high-margin business models and strategic land acquisitions [1] Company Focus - LandBridge Company LLC is highlighted as a prime example of resilience in the oil and gas sector [1]

ATHENS, Greece and NEW YORK, May 16, 2025 (GLOBE NEWSWIRE) -- Heidmar Maritime Holdings Corp. (the "Company" or "Heidmar") (NASDAQ: HMR), today announced that its annual report on Form 20-F (the “Annual Report”), which includes the Company’s audited financial statements for the fiscal year ended December 31, 2024, was filed with filed with the U.S. Securities and Exchange Commission (the “SEC”) on May 15, 2025. The Annual Report is available on the SEC website at http://www.sec.gov and on the Company’s webs ...

Core Insights - Azul S.A. reported a loss of $2.18 per share in Q1 2025, significantly missing the Zacks Consensus Estimate of earnings of 4 cents per share, compared to a loss of 57 cents per share in Q1 2024 [1] Financial Performance - Total revenues for Q1 2025 were $920 million, slightly below the Zacks Consensus Estimate of $925 million, with passenger revenues, which account for 93% of total revenues, increasing by 15.2% year over year due to strong demand [2] - Cargo revenues and other sources grew by 17.3% year over year, with international cargo revenues experiencing a substantial 62% year-over-year growth, contributing to a healthy EBITDA that more than doubled year over year [3] Operational Metrics - Consolidated traffic, measured in revenue passenger kilometers (RPKs), rose by 19.4% year over year, with domestic traffic increasing by 14.7% and international traffic surging by 38.3% [4] - Consolidated available seat kilometers (ASK) increased by 15.6% year over year, with domestic capacity rising by 10.2% and international capacity by 39.2%, leading to a load factor increase of 2.6 percentage points to 81.5% [4] Cost and Expenses - Total revenues per ASK (RASK) were R$42.14 cents, down 0.2% year over year, while passenger revenues per ASK (PRASK) decreased by 0.4% year over year [5] - Cost per ASK (CASK) increased by 7.6% year over year, influenced by an 18% depreciation of the Brazilian real against the US dollar, 5.5% inflation, and higher costs associated with international operations [6] - Operating expenses reached R$4.82 billion, up 24.4% year over year, driven by increased capacity and fuel prices, although offset by productivity improvements and cost-reduction initiatives [7] Liquidity and Debt - At the end of Q1 2025, Azul had total liquidity of R$6.66 billion, down from R$7.49 billion at the end of the previous quarter, while gross debt rose to R$34.6 billion from R$33.6 billion [8]

Financial Results Announcement - Golden Ocean Group Limited will publish its financial results for the first quarter of 2025 on May 21, 2025 [1] - A conference call and webcast will be held on the same day at 3:00 P.M. CET (9:00 A.M. New York Time) [1] Conference Call and Webcast Details - The presentation will be available for download from the Investor Relations section of the Company's website prior to the conference call/webcast [1] - Participants can listen to the presentation via webcast or conference call, with registration required for the latter [2] - A Q&A session will follow the conference call/webcast, with instructions for submitting questions provided at the beginning of the session [2] Regulatory Compliance - The information is subject to the disclosure requirements of section 5-12 of the Norwegian Securities Trading Act [3]