Product tankers

Search documents
TEN Ltd. Holds Its Thirty-Second General Annual Meeting of Shareholders
Globenewswire· 2025-06-18 20:05
Company Overview - TEN Ltd. is a leading diversified crude, product, and LNG tanker operator, founded in 1993 and celebrating 32 years as a public company [2] - The company operates a diversified energy fleet consisting of 82 vessels, including various types of tankers, totaling 10.1 million deadweight tonnage (dwt) [2] Recent Developments - The Thirty-Second General Annual Meeting of Shareholders was held on June 12, 2025, in Athens, with a quorum present and all proposed resolutions approved by at least 94.6% of the votes cast [1]
OceanPal Inc. Announces the Sale of M/V Protefs
GlobeNewswire News Room· 2025-06-02 13:28
Core Viewpoint - OceanPal Inc. has signed a Memorandum of Agreement to sell the dry bulk vessel "Protefs" for a price of US$7 million, with delivery scheduled by June 17, 2025 [1] Company Overview - OceanPal Inc. is a global provider of shipping transportation services, focusing on the ownership and operation of dry bulk vessels and product tankers [3] - The company engages in the seaborne transportation of bulk commodities such as iron ore, coal, and grain, as well as refined petroleum products [3] - OceanPal's fleet primarily operates on time charter trips with short to medium duration and spot charters, aiming to maximize long-term shareholder value [3] Fleet Composition - Following the sale of "Protefs," OceanPal's fleet will consist of 2 Panamax dry bulk vessels and 1 MR2 tanker vessel [2]
TEN, Ltd. Announces Date for the First Quarter 2025 Results, Conference Call and Webcast
Globenewswire· 2025-05-30 14:00
Company Overview - TEN Ltd. is a leading diversified crude, product, and LNG tanker operator, with a fleet consisting of 82 vessels, including various types of tankers and carriers, totaling 10.1 million deadweight tons (dwt) [6]. Earnings Announcement - TEN will report its earnings for the first quarter ended March 31, 2025, prior to the market opening in New York on June 17, 2025 [1]. - A conference call will be held on the same day at 10:00 a.m. Eastern Time to review the results and management's outlook for the business [2]. Conference Call Details - Participants are encouraged to dial in 10 minutes before the scheduled time using the provided US toll-free and international dial-in numbers [3]. - An alternative "call me" option is available for participants to join the conference call more quickly [4]. - A live and archived webcast of the conference call, along with accompanying slides, will be available on the company's website [5].
Pyxis Tankers Announces Financial Results for the Three Months Ended March 31, 2025
Globenewswire· 2025-05-21 12:00
Maroussi, Greece, May 21, 2025 – Pyxis Tankers Inc. (Nasdaq Cap Mkts: PXS), (the "Company", "we", "our", "us" or "Pyxis Tankers"), an international shipping company, today announced unaudited results for the three months ended March 31, 2025. For the three months ended March 31, 2025, our revenues, net, were $9.6 million. For the same period, our time charter equivalent ("TCE") revenues were $8.4 million, a decrease of $1.8 million, or 17.4%, over the comparable period in 2024. Our net income attributable t ...
Scorpio Tankers Inc. Announces Financial Results for the First Quarter of 2025 and the Declaration of a Dividend
Globenewswire· 2025-05-01 10:45
Core Viewpoint - Scorpio Tankers Inc. reported a significant decline in net income for the first quarter of 2025 compared to the same period in 2024, alongside a quarterly cash dividend declaration of $0.40 per share [1][6]. Financial Performance - For the three months ended March 31, 2025, the company had a net income of $58.2 million, or $1.26 basic and $1.22 diluted earnings per share, compared to a net income of $214.2 million, or $4.29 basic and $4.11 diluted earnings per share for the same period in 2024 [2][4]. - Adjusted net income for Q1 2025 was $49.0 million, or $1.06 basic and $1.03 diluted earnings per share, excluding a $9.4 million fair value gain and a $0.3 million loss on debt extinguishment [3]. - Total vessel revenue for Q1 2025 was $213.98 million, down from $391.34 million in Q1 2024, with TCE revenue decreasing to $204.2 million from $389.76 million [27][31]. Revenue and Costs - Average daily TCE revenue decreased to $23,971 per vessel in Q1 2025 from $39,660 in Q1 2024, with the average number of vessels decreasing from 110.9 to 99.0 [27][39]. - Vessel operating costs for Q1 2025 were $70.6 million, down from $78.1 million in Q1 2024, while average daily vessel operating costs increased to $7,924 from $7,743 [27][39]. Dividend Declaration - The Board of Directors declared a quarterly cash dividend of $0.40 per common share, with a payment date set for June 16, 2025 [6]. Debt and Liquidity - As of April 30, 2025, the company had $397.0 million in unrestricted cash and cash equivalents, and $838.2 million of undrawn revolver capacity [15]. - The company has $173.4 million available under its 2023 Securities Repurchase Program [9]. Recent Significant Events - In April 2025, the company entered into a time charter-out agreement for a Handymax product tanker at an average rate of $24,000 per day [12]. - The company redeemed $70.6 million of its Unsecured Senior Notes due 2025 and placed $200.0 million of new senior unsecured bonds due 2030 at a fixed coupon rate of 7.50% [18][17]. Drydock and Off-Hire Update - The company reported drydock activity and estimated off-hire days for Q1 2025, with actual aggregate costs of $24.7 million and 388 off-hire days [23][24].
Tsakos Energy Navigation Limited(TEN) - 2024 Q4 - Earnings Call Transcript
2025-03-28 00:16
Tsakos Energy Navigation Limited (NYSE:TEN) Q4 2024 Earnings Conference Call March 27, 2025 11:00 AM ET Company Participants Nicolas Bornozis - Investor Relations, Capital Link Takis Arapoglou - Chairman of the Board Nikolas Tsakos - Founder & Chief Executive Officer George Saroglou - President & Chief Operating Officer Harrys Kosmatos - Co-Chief Financial Officer Conference Call Participants Poe Fratt - Alliance Global Partners Climent Molins - Value Investor's Edge Operator Good morning to all. Thank you ...
Imperial Petroleum (IMPP) - 2024 Q4 - Earnings Call Transcript
2025-02-13 16:00
Imperial Petroleum (IMPP) Q4 2024 Earnings Call February 13, 2025 10:00 AM ET Company Participants Harry Vafias - President, CEO & ChairmanIfigeneia Sakellari - Interim CFO Operator Good day, and thank you for standing by. Welcome to the Imperial Petroleum Inc. Q4 twenty twenty four and twelve months twenty twenty four Financial and Operating Results Conference Call and Webcast. All participants will be in listen only mode during the conference with no question and answer session. Please note that today's c ...