a result of calculating revenue on a loading to discharge 
  basis, compared to 164 days lost for the first quarter 
  of 2023. 
 (ii) Vessel overhead costs are General & Administrative 
  expenses, which also include Management fees, Stock 
  compensation expense and Management incentive award. 
 (iii) Operating expenses per ship per day which exclude 
  Management fees, General & Administrative expenses, 
  Stock compensation expense and Management incentive 
  award. 
 (iv) Adjusted EBITDA. See above for reconciliation 
  to net income. 
 Non-GAAP financial measures should be viewed in addition 
  to and not as an alternative for, the Company's reported 
  results prepared in accordance with GAAP. 
 The Company does not incur corporation tax. 
 
 

(END) Dow Jones Newswires

June 20, 2024 08:55 ET (12:55 GMT)