Financial Data and Key Metrics Changes - For Q4 2025, the company reported total net revenues of $4.48 million and a net income of $1.27 million, with adjusted EBITDA of $1.6 million [7][24] - The annual total net revenues for 2025 were $13.23 million, with a net income of $14.71 million, including a $10.23 million gain from the sale of the motor vessel, Diamandis [25] - Basic and diluted earnings per share for Q4 2025 were $0.45, while for the full year 2025, it was $5.25 [24][25] Business Line Data and Key Metrics Changes - The company operates two feeder container ships and one MR product tanker, with the container ships generating steady cash flow under profitable charters [9][24] - The cash break-even for the container ship fleet is approximately $9,000 per day, while for MR product tankers, it is around $9,500 per day, indicating strong profitability potential [26] Market Data and Key Metrics Changes - The overall containership order book is approximately 35% of the existing fleet, while the feeder segment has a lower order book at roughly 13%, suggesting limited incoming supply [10] - As of February 2026, the prevailing market rate for 1,700 TEU feeder containerships is $28,000 per day, significantly above the 10-year average of about $18,000 per day [11] Company Strategy and Development Direction - The company is transitioning from containerships to the tanker sector, having acquired the MR product tanker, Elias Avatar, and plans to expand its fleet with additional MR product tankers [5][6] - The partnership with Marla Investments, which acquired a 51% stake, is expected to provide a strong foundation for growth [4] Management's Comments on Operating Environment and Future Outlook - Management highlighted the resilience of the medium-range tanker market, with current charter rates remaining healthy by historical standards [13] - The outlook for 2026 and 2027 is mixed, with expected fleet growth potentially weighing on rates, but shifting trade patterns and firming ton-mile demand could balance supply and demand dynamics [22] Other Important Information - The company declared a quarterly dividend of $0.14 per share for Q4 2025, marking its fourth consecutive quarterly dividend [8] - The market value of the fleet is significantly higher than its book value, with vessels valued at approximately $46.5 million, implying a net asset value of around $32.3 million or about $11.46 per share [28] Q&A Session Summary - There were no questions during the Q&A session, and the call concluded with closing remarks from management [31][32]