Company Overview - Globus Maritime Limited is an integrated dry bulk shipping company providing marine transportation services globally [2] - The company's fleet consists of nine dry bulk vessels with a total carrying capacity of 680,622 dead weight tons and a weighted average age of 7.5 years as of June 11, 2025 [2] Financial Results Announcement - The company will release its financial results for the three-month period ended March 31, 2025, after the market closes in New York on June 16, 2025 [1]

Financial Performance - EuroDry's net revenues for Q1 2025 were $9.2 million, a decrease of 36.2% compared to $14.42 million in Q1 2024[9, 39] - The company reported a net loss attributable to controlling shareholders of $3.7 million, or ($1.35)/share in Q1 2025[9] - Adjusted net loss was ($5.7 million), or ($2.07)/share in Q1 2025[9, 39] - Adjusted EBITDA was ($1.0 million) in Q1 2025, a decrease of 148.9% compared to $2.07 million in Q1 2024[9, 39] Fleet and Operations - EuroDry's current fleet consists of 12 vessels with a total carrying capacity of 843k DWT and an average age of approximately 13.6 years[13] - The company has repurchased 334,674 shares of its common stock for $5.3 million under a repurchase plan of up to $10 million[10] - Fixed rate coverage for the remainder of 2025 is about 21.9% through charters[14] - Time Charter Equivalent (TCE) rate decreased to $7,167/day/vessel in Q1 2025 from $12,455/day/vessel in Q1 2024[41] Market Overview and Outlook - The orderbook is at approximately 10.51% of the fleet, remaining among the lowest levels in history[24, 26] - The company estimates that new supply of ships will be limited to about 1.8% in 2026, while demand growth is estimated at about 0.6%[33]

Core Insights - Star Bulk Carriers Corp. discussed its Q1 2025 earnings, market positioning, and future strategy, focusing on capital allocation and the impact of geopolitical tensions and carbon emission regulations on the dry bulk shipping market [1] Capital Allocation Strategy - The company addresses the persistent discount between its stock price and Net Asset Value (NAV), emphasizing that NAV reflects actual vessel values based on recent sales [3] - Star Bulk employs a disciplined arbitrage strategy by selling older vessels at or near NAV and using the proceeds for share repurchases, enhancing shareholder value [4] - The capital allocation framework prioritizes reducing debt, returning capital to shareholders, and reinvesting in the business, with a revised dividend policy guaranteeing a minimum quarterly dividend of $0.05 per share [5] Market Outlook - Star Bulk expects approximately $38.6 million in vessel sale proceeds during Q2–Q3 2025, which will be used for share buybacks to enhance shareholder returns [6] - The dry bulk market remains relatively insulated from geopolitical tensions, although factors like the Suez Canal reopening or the resolution of the Ukraine conflict could shift trade flows [7] - Dry bulk fundamentals are sound, with total dry bulk trade projected to contract slightly in 2025 by 1.2% in tons and 0.4% in ton-miles, but minor bulk demand continues to grow [8] Supply and Demand Dynamics - The orderbook for dry bulk vessels is at a multi-year low, with only 10.3% of the fleet on order, and newbuild orders at their lowest levels in eight years due to high construction costs and tight shipyard slots [11] - The global fleet is aging, with nearly half of all dry bulk vessels expected to be over 15 years old by 2027, which, combined with tightening decarbonization rules, is expected to contract effective supply [12] Regulatory Environment - New IMO and EU emissions regulations are discouraging faster vessel speeds, tightening supply despite lower fuel costs [13] - Star Bulk is renewing its fleet by selling older vessels and has five new Kamsarmax vessels scheduled for delivery in 2026, positioning itself to thrive under upcoming regulations [14] - The company is frontloading drydock activity in the first half of the year to prepare for a stronger second half, expecting effective fleet capacity to tighten further [15]

Financial Performance - The company secured revenues of US$124 million [20] - The company has US$1877 million of cash [20] - The company's net debt to market value is 42% [20] - Time charter revenues for the first quarter of 2025 were US$549 million, compared to US$576 million in the first quarter of 2024 [32] - Net income for the first quarter of 2025 was US$30 million, compared to US$21 million in the first quarter of 2024 [32] Fleet and Operations - The company's fleet has a carrying capacity of 41 million DWT [20] - The average age of the company's fleet is 1157 years [20] - The average fleet utilization for the three months ended March 31, 2025, was 996% [20] - The company has 37 vessels on the water [20] Chartering Strategy - As of May 22, 2025, the company secured US$868 million of contracted revenues for 66% of the remaining ownership days of 2025 [24] - The company secured US$365 million of contracted revenues for 13% of the ownership days of 2026 [24]

Core Viewpoint - Golden Ocean Group Limited reported a significant decline in financial performance for the first quarter of 2025, attributed to a weaker market environment, lower charter rates, and increased drydocking expenses, while maintaining a positive medium-term outlook for the dry bulk shipping industry, particularly in the Capesize segment [3][5]. Financial Performance - The company recorded a net loss of $44.1 million and a loss per share of $0.22 for Q1 2025, compared to a net income of $39.0 million and earnings per share of $0.20 in Q4 2024 [5]. - Adjusted EBITDA for Q1 2025 was $12.7 million, down from $69.9 million in Q4 2024 [5]. - The adjusted net loss for Q1 2025 was $37.5 million, compared to an adjusted net income of $12.7 million in Q4 2024 [5]. - Drydocking expenses totaled $38.4 million in Q1 2025, an increase from $34.3 million in Q4 2024 [5]. Market Conditions - Reported TCE rates for Newcastlemax/Capesize and Kamsarmax/Panamax vessels were $16,827 per day and $10,424 per day, respectively, with an overall fleet TCE rate of $14,409 per day for Q1 2025 [5]. - Estimated TCE rates for Q2 2025 are approximately $19,000 per day for 69% of Newcastlemax/Capesize available days and $11,100 per day for 81% of Kamsarmax/Panamax available days [5]. - For Q3 2025, estimated TCE rates are projected at $20,900 per day for 12% of Newcastlemax/Capesize available days and $12,900 per day for 38% of Kamsarmax/Panamax available days [5]. Strategic Developments - The company is pursuing a stock-for-stock merger with CMB.TECH NV, with a term sheet already entered [5]. - Agreements were made in March and April 2025 to sell two Kamsarmax vessels for net considerations of $15.8 million and $16.8 million, respectively [5]. - A cash dividend of $0.05 per share for Q1 2025 has been announced, payable on or about June 17, 2025, to shareholders of record on June 5, 2025 [5].

Company Overview - Genco Shipping & Trading (GNK) is a US-based dry bulk shipping company that specializes in global commodity transport [1] Industry Insights - The article highlights the various types of bulk carried by vessels, emphasizing the advantages present in the dry bulk shipping sector [1]

FINANCIAL RESULTS Q1 2025 May 2025 Forward-Looking Statements This presentation contains certain forward-looking statements. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements may include statements concerning the Company's plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts, identified by words such as "be ...

Core Viewpoint - Star Bulk Carriers Corp. reported a significant decline in financial performance for Q1 2025 compared to Q1 2024, with a net income of $0.5 million and a decrease in voyage revenues, while announcing a new minimum quarterly dividend policy of $0.05 per share [1][4][8]. Financial Performance - Voyage revenues decreased to $230.7 million in Q1 2025 from $259.4 million in Q1 2024 [20]. - Net income fell sharply to $0.5 million in Q1 2025 from $74.9 million in Q1 2024 [18]. - Adjusted net loss for Q1 2025 was $7.7 million, compared to an adjusted net income of $73.2 million in Q1 2024 [18][46]. - EBITDA decreased to $58.0 million in Q1 2025 from $126.3 million in Q1 2024 [19][42]. - Adjusted EBITDA was $49.0 million in Q1 2025, down from $123.0 million in Q1 2024 [19][42]. Operational Metrics - The average number of vessels increased to 150.7 in Q1 2025 from 113.3 in Q1 2024 [34]. - Daily Time Charter Equivalent (TCE) rate dropped to $12,439 per day in Q1 2025 from $19,627 per day in Q1 2024, reflecting weaker market conditions [20][35]. - Daily operating expenses per vessel (as adjusted) were $4,898 in Q1 2025, slightly down from $4,962 in Q1 2024 [22][35]. Dividend and Share Repurchase - The Board declared a quarterly cash dividend of $0.05 per share, marking the 17th consecutive quarter of capital returns [5][8]. - Approximately 1.3 million shares were repurchased at an average price of $15.24 per share during Q1 2025, totaling $19.6 million [9]. Fleet and Asset Management - The company agreed to sell five Supramax vessels as part of its strategy to dispose of older and smaller tonnage [6]. - Following recent vessel sales, the company will have 13 unencumbered vessels and expects to collect total net proceeds of approximately $44.4 million in Q2 2025 [14]. Financial Position - The company reported over $500 million in liquidity and net debt below scrap value [7]. - As of March 31, 2025, total assets were $4.02 billion, with total liabilities of $1.56 billion [32].

Company Overview - Star Bulk Carriers Corp. is a global shipping company specializing in seaborne transportation solutions within the dry bulk sector, transporting major and minor bulk commodities such as iron ore, minerals, grain, bauxite, fertilizers, and steel products [3] - The company was incorporated in the Marshall Islands on December 13, 2006, and has executive offices located in Athens, New York, Stamford, and Singapore [3] - Star Bulk's common stock is traded on the Nasdaq Global Select Market under the symbol "SBLK" [3] Fleet Information - As of the date of the release, Star Bulk owns a fleet of 150 vessels with an aggregate capacity of 14.7 million deadweight tons (dwt) [3] - The fleet composition includes 17 Newcastlemax, 15 Capesize, 1 Mini Capesize, 7 Post Panamax, 44 Kamsarmax, 1 Panamax, 48 Ultramax, and 17 Supramax vessels, with carrying capacities ranging from 55,569 dwt to 209,537 dwt [3] Recent Corporate Actions - The Annual Meeting of Shareholders was held in Cyprus on May 14, 2025, where several proposals were approved [1] - The re-election of Messrs. Petros Pappas, Arne Blystad, and Raffaele Zagari as Class C Directors on the Board of Directors was confirmed [1] - DELOITTE CERTIFIED PUBLIC ACCOUNTANTS S.A. was appointed as the independent auditors for the fiscal year ending December 31, 2025 [2]

Core Viewpoint - Star Bulk Carriers Corp. will release its financial results for Q1 2025 on May 14, 2025, and will host a conference call on May 15, 2025, to discuss these results [1]. Company Overview - Star Bulk is a global shipping company specializing in seaborne transportation solutions in the dry bulk sector, transporting major and minor bulk commodities [5]. - The company was incorporated in the Marshall Islands on December 13, 2006, and has executive offices in Athens, New York, Stamford, and Singapore [5]. - Star Bulk's common stock trades on the Nasdaq Global Select Market under the symbol "SBLK" [5]. - As of the release date, the company owns a fleet of 152 vessels with an aggregate capacity of 14.8 million deadweight tons (dwt), including various types of bulk carriers [5].