May 21, 2025 / 01:00PM GMT
Peder Simonsen - Golden Ocean Group Ltd - Chief Financial Officer of Golden Ocean Management AS
Good afternoon, and welcome to the Golden Ocean Q1 2025 release. My name is Peder Simonsen, and I'm the CEO and CFO of Golden Ocean. I will today present the Q1 2025 numbers and forward outlook. In the first quarter of 2025, we have the following main highlights. Our adjusted EBITDA in the first quarter ended up at $12.7 million compared to $69.9 million in the fourth quarter.
We recorded a net loss of $44.1 million and a loss per share of $0.22 compared to a net income of $39 million and earnings per share of $0.20 in the fourth quarter. Our TCE rates were about $16,800 per day for Capesizes and about $10,400 per day for Panamax vessels and a fleet-wide net TCE of about $14,400 per day for the quarter. We continue our intensive dry-docking program, recording dry docking costs of $38.3 million for 380 dry docking days in Q1 compared to $34.3 million in Q4 relating to 320 dry docking days.
Following the share purchase by CNB Tech of close to 50% of the shares in Golden Ocean, a contemplated
Q1 2025 Golden Ocean Group Ltd Earnings Call Transcript
May 21, 2025
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