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The closure of the Strait of Hormuz has fundamentally shifted global LPG trade flows, forcing a reliance on U.S. Gulf exports to compensate for a 46% decline in Middle Eastern volumes.
Shipping TCE income of $74,000 per available day was impacted by $16.4 million in IFRS 15 adjustments and $12 million in FFA adjustments, despite strong underlying spot performance.
Product Services achieved a realized trading gain of $127 million, though reported results were masked by a $145 million unrealized mark-to-market valuation loss on open positions.
Operational efficiency was maintained with 96% fleet utilization despite a heavy dry-docking schedule involving 99 days in Q2 and 58 expected in Q3.
#adjustments #NVIDIA #gulf
The closure of the Strait of Hormuz has fundamentally shifted global LPG trade flows, forcing a reliance on U.S. Gulf exports to compensate for a 46% decline in Middle Eastern volumes.
Shipping TCE income of $74,000 per available day was impacted by $16.4 million in IFRS 15 adjustments and $12 million in FFA adjustments, despite strong underlying spot performance.
Product Services achieved a realized trading gain of $127 million, though reported results were masked by a $145 million unrealized mark-to-market valuation loss on open positions.
Operational efficiency was maintained with 96% fleet utilization despite a heavy dry-docking schedule involving 99 days in Q2 and 58 expected in Q3.
#adjustments #NVIDIA #gulf
10 days ago
