morning, Good our the you six-month for is today's for call our for joining our quarter gentlemen, financial today Aslidis, purpose Tasos of Chief us call. me results thank ladies XXXX. to June period and discuss XX with The ended Officer. Financial conference all scheduled and and Together
Let’s presentation over income to highlights. of X our turn go Slide statement to the
for results XXXX. had which results second we focused company in We since containership public pleased with have Euroseas of the are very our quarter XXXX, ever one of the is best became a
to adjusted for and release the Adjusted was the EBITDA $XX million. of quarter for adjusted share. second per or was diluted reconciliation and income XXXX, we $XX.X press reported refer net $XX.X between the was million, net share. million the revenues million, For per income loss Please net or total EBITDA. $XX.X cost the net diluted $X.XX Adjusted $X.XX of
which quarterly XXXX. of of company's annualized is on the to XXXX, per of current $X.XX second shareholders. X, be a quarter price, about X%. dividends. September the share dividend The part September our shareholders is company payable dividends As to declared XX paying quarter continue or common dividend for We stock our committed of based to the will the on meaningful of share record on consecutive common This above plan, Directors paying Board dividend of sixth significant yield the remain
million The repurchase has Board year. by program the share original of been $XX May approved for XXXX in another extended
As of to market, stock close in repurchased for common $X.X of total about X, August total our of we have the of our open a million. shares. This XXX,XXX represents X%
announce presentation. associate sustainability covers governance year's the is available our The United company's Initiative Standards the reporting Standards, as all been ESG from But our environmental, highlights goal, more pleased materiality additional under Reporting based report our also and SASB. over in ESG the to Global third footprint. business Development. stakeholders. considered report responsible go of sustainability report is this which Board I'm in In practices The will and financial our corporate report in guidelines, have Sustainable annual our in section achieving the new as is social Tasos, input the usual later metrics, on such to which Nasdaq Nations the progress this plus and includes Sustainability the detail sustainability GRI on the Accounting criteria commitment XXXX website. our
Please developments. Operational discuss to Chartering we turn four, & Slide acquisition, recent our where
of The the own with motor by loan Phase and alternative sustainability took III is provided compliant of previously Mipo of the Korea. and a sustainability the Dockyard EEDI an delivery the building As second Terataki, containership from X, eco vessel X,XXX on July company AMP, in other engine vessel The installation X and power. teu Bank financed National acquisition combination Greece. equipped linked funds, with linked Tier including of features was vessel, its announced new Hyundai South feeder XXXX, the maritime
its day. for Lines per was charter Asyad the of of day. on at Following Terataki of months six growth front, $XX,XXX the a motor a XX vessels rate period eight rate with Joanna motor the Continuing extended vessels charter on to commenced XX-month $XX,XXX the daily to delivery, per contract for
We the the vessels, and to mutual motor current P. Rena charters also for reached them, P agreement with Emmanuel terminate
in While to concurrently at over vessel are extra XX period new same contribute period. the or $X fixing XX the $X charters a day. vessels charters million months new expected to per per of These to for $XX,XXX million revenues
the were second docks there or off-hire. quarter no dry During of vessels XXXX,
is under about current fleet XX,XXX and Please turn years. carriers fleet which to age intermediate comprised teu. carrying vessels just Slide seven XX five, can Euroseas XX total of includes container average containerships XX our An below with profile. water, of see current capacity of a you where feeder
Turning total be teu. with capacity a We teu of which and delivered our very carrying Euroseas of of and delivery in XXXX XXXX to XX,XXX recently, will of consist the sold fleet teu After seven carrying were in vessels a to each. are X,XXX to teu. construction, newbuildings under feeder with capacity of capacity and each vessels in seven, XX the have the Slide consists The carrying of carrying containerships. of the Four, total X,XXX excess six. three feeder newbuildings XX,XXX containership seven our up nine expected currently they capacity eco new
Employment seven slide our of to schedule. from the turn Vessels graphic view now Let's
you coverage the regardless quarters that about very charter continue profitable that rates XXXX. XX% remainder should rates This for profitable high almost may with highly registering fleet As a charter development. because of suggests fixed of for the and year next we quite our at covers of XXXX, very being throughout XX% two of for XXXX, with see, years, chart the small the
how highs during have ago. time Let's a and the in now the were quarter, again the the to to second about decline about charter with X charter One-year XX% nine, the review of XX last months’ than Slide first turn rates rates XX% May levels over year compared half up to the by XX a years. time developed lower
significantly still pre pandemic levels. than higher they're their However,
X, that per than rate higher around rate was day, is XXXX stood day, X,XXX containerships $XX,XXX than the August X,XXX X the much at XX-month $X,XXX lower than for the median per had time Comparatively day, of the $XX, and And higher charter stood than $XX,XXX rate average around day. $X,XXX influenced day. XXXX. still high per of which As which per average But but teu XX-year of for rate in $XX,XXX which XX-year the to rate XX-year containership the is rate the teu median XX-year of basics. rates we've lower per course of of
go some further highlights. XX, we Moving market Slide over on to
the quarter second charter slightly in the as of decreased time by was the one-year table. up The of compared to rates previously second markedly sales quarter XX% XXXX, have During average XX%. as said, rates, improved, during by XXXX the but previous shown about quarter,
Only size was we lack rates dominance the vessel even meet with of resilience In the tactic market of during an some the support the across are further and sectors term with have experienced of availability. quarter, By correction. a the upward and charter in some this, apparent quarter. demand, in momentum large, second short tandem in there lately, view the seeing the in line and first half
then, the about increased charter has come in market quarter has with decline. price quarter, the second on bit by line X% down but index other since The a
The X% nevertheless. the quarter. by high, remains prices to quarter, the newbuilding second in price compared time index about increased previous Second
fairly trending peaked vessels continue idle fleet Newbuildings cost term improvements about Recycling Recycling markets, amid forward in some pollution sold further extended and The idle which in TEUs the as fleet. TEU X,XXX X.X% facility vessels instead downward that XX, for February high yard been XXXX of remained prices July quarter, higher with scrapped. generally recycling of since. freight the the amid and XX million short The activity of was is second for during ever to remainder and inflation fleet anticipated The XXXX trading. meant of $X.X been accounting cover. has for some containership XXXX. having were at circulated which subdued, remains charter stood
fleet quarter $XXX grown without for prices lightweight approximately about to reactivation. the soften XX% tonne, per also containership idle which Scrapping X.X% above XXXX year-to-date incrementally is still accounting the has have of second vessels about Overall, the average. by during
Please in modestly the its XXXX, July latest than forecast With IMF XXXX. XX. Slide higher is update to April this latest previous turn conditions in
Local in projected fall is by estimated growth XXXX from to to X% still XXXX. predictions and However, in historical of in both in ‘XX from standards. ‘XX XXXX to X.X% an weaker X% previous X.X%
market, the of anticipated uncertain be financial A gradual supported uneven XXXX. to for softness might term appears the look many second local areas activities concerns of growing renewed therefore by stalled, second expectations first global government world, in With XXXX. and March of the for in inflation external the ‘XX the environment continued Relative in in in way volatile, of for. reopening growth of around an half and some plan. near half China's the the sector economy's half housing export slowdown and the and cuts stabilization say. even rate risks a in
by global X.X% in exports. year. delivers to QX demand countries the XXXX. this strong other existed is emerging and There economic strong CapEx expectations. GDP surprise that biggest growth high developing from forecast the far growth upside Time services its unchanged, in projected driven and which XXXX overall Remains in is was of far and defy India so while With in This government X.X% growth slowdown. is
U.S. the global second focused that XXXX. compared seems half the previous consoles forecast Despite slowdown, by in moderately general to IMF X.X%, grow which the to at economy avoid X.X% is the the to recession growth suggest potentially can U.S. of
in just its However, low bit forecast. the the to X% little IMF for growth growth X.X% U.S. seems previous from projections to its have XXXX
the for Despite companies side in effects Western revised with and Russian and of X.X% the for markets and estimate previous financial commodities markets, up is export world, the other of many a XXXX, better quarter. On of the with literally, sanctions growth the faring us expected, the from close. than economy X.X%
demand with the challenging to X%. year remainder According Glaxo's just latest for container of trade expected conditions, growth the to subdued due to will fleet at the estimates, continue the experience market
demand to XXXX, trade is to of positive For about a growth return level X.X%. expected
which which fleet potential The Please lies most and book. fleet The operating. old. vessels XX the of suggesting Slide the size total can feeder for with the old XX% fleet years of young, percentage high of recycling XX where XX, years within you see profile is relatively only under ships. largest turn is This this of vessels, mostly type containership and to containership age over in the
from start The as year, half of of XX.X% year, majority next be XXXX. second deliveries scheduled starts and of percentage of XX.X% of the XXXX. the a delivered expects fleet as X.X% current new of about of X.X% order Last through August with the in delivery this to to at the the total first book half fleet XXXX we within XXXX,
Turning dates in XX, on for to Slide fleet the we range. to profile and TEU go X,XXX ships the over XXXX book also order
backbone of order these XXXX. X.X% are as our to According our As X.X%, operations of book just X.X% primary and at new sizes as The year, within the at in here Clarksons, as August XXXX, stands program. XXXX. focus estimated newbuilding XX% the of this in deliveries
years few Additionally, XX Clearly this of over next can XX% expect market, as the in of favorable sector for very of dynamics in the the fleet decline the half the the the are size fleet we is the years. fleet old.
highs, have decreasing slide declined containership now second There that are market. number of we rates wholesome high discuss our a outlook XXXX. containership since summary affected the for Let's investors sealed is being demand for chapter the in year also the market XX for Daily move previously pronounced a freight. correction signs last by of the half where sour following to
in Additionally, these a sizes, of been available vessels. to larger noticeable accumulation decline charter there rates has a leading in tonnage smaller feeder for
soften XXXX, rates participants. Although still freight record but sits and pre-pandemic anticipated to peak XX-year volumes declines than are fell the at Presently, And X% levels. again January XXXX, level as further in the initially its in incorporated returning pre-COVID the deliveries continue that the by average. April index container a rebounded be recently, market to lower is remained index by XX% about at freight year-on-year, data
expected remainder the to the is XXXX, will be supply pressure delivered. are as still and of there considerable charter growth accelerates vessels ahead. For challenges number emerge of increasing General downward
of demand. remains charter growth fleet our somewhat some that or rates. by reduce seen either hand, evolution how speed the regulations develop, will trading. starting we to will fall volumes will developments other be stop to overall the that's especially the it vessels But be could and essentially On from And This determine XXXX. shipping environmental future mitigated believe economic
The energy future, transition continues industry. the also play of of within will the trading the important an but the the traction and to patterns gain vessels in role evolution
that transition is direction fully evident taking to While metrics The The place. and are and it's is outlook speed the be yet uncertain. long term intricate shift determined. of the
is though, spread supply conventional over thing is increase. any due vessels to to expected between from eco from the size expected One that charter are further downturn by the to that Also the becoming smaller obvious ones achieving rates faster teu healthy vessels XXXX recover is situation. XXXX
As differences. we of extent be said larger scrapped overweight size could be go, group that the any book. ships will served to this an order many by mitigate lower scaling cannot fleet vessels, it that trays Without
far that since teu are peak one-year the One-year Let's charter The above move capacity to levels. below Slide evolution early rate charter of XX. time historical time containers are chart a rates with X,XXX shows to XXXX of XXXX. the left
As per a time hand day, XX-year At containerships for higher median. level the standard much time of is right a the with previously X,XXX which teu. mentioned, shows and the than $XX,XXX building old the and charter historical capacity profitable current range new historical chart one-year same
the container across and market buoyant been have in relatively second hand the months, rates the values charter several market remained resilient past As equally have high. stubbornly in
We are healthy XXXX coverage and revenue believe market protected volatility contracted with well very a that at throughout rates. XXXX against high we
continue comfortably our program, also levels executing dividend seven the that keeping to risk continue leverage at Our price liquidity a take on persons new with and around evaluate growth It significant XX%. the NAV. same stock delivery allow below revenues time, buildup incrementally will of building paying our potential. At us we us and low will to opportunities increase of to while repurchase continues allow at hover XX% will as investment to low remaining will
over to in to And go with that, floor CFO will the financial our Aslidis, our detail. pass I highlights further Tasos
