Q1 2024 Golden Ocean Group Ltd Earnings Call Transcript
Good day, and welcome to the Golden Ocean Q1 2024 release. My name is Lars Christian Svensen, and I'm the CEO of Golden Ocean. Today, our CFO, Peder Simonsen, and I will guide you through our Q1 numbers, forward outlook, and activities within the Golden Ocean Group. Here are the highlights for the first quarter of 2024. Our adjusted EBITDA in the first quarter of 2024 ended up at $114.3 million compared to $123.2 million in the fourth quarter of 2023. We delivered a net income of $65.4 million and earnings per share of $0.33 compared to a net income of $57.5 million and earnings per share of $0.29 for the fourth quarter of 2023.
Our TCE rates for Capesize and Panamax vessels were about $27,200 per day and about $15,000 per day, respectively, in conclusion, a combined fleet-wide net TCE of about $22,600 per day for the quarter. For Q2, we have secured a net TCE of $27,200 per day for 75% of the Capesize days and about $14,500 per day for 82% of the Panamax days. For Q3, we locked in a net TCE of
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