EarningsThe 3Q24 time charter equivalent rate was $22,527, down 0.2% year-over-year, falling short of the $23,372 estimate due to unplanned downtime from a minor incident with a tanker.
Market IndicatorsThe Baltic Clean Tanker Index for refined product tankers decreased 24.6% quarter-to-date and fell 26.9% year-over-year.
Operating ExpensesTotal operating expenses of $27.0M rose 47.1% year-over-year, surpassing the $26.3M forecast because of downtime, resulting in reduced operating income.