— The average number of vessels decreased to 43.8 from 50 in the prior-year quarter. However, the weighted average age of vessels rose to 9.4 from 9.1 a year ago.
— Fleet utilization for the third quarter declined to 99.4% from 99.5% in the previous year quarter.
— Time charter equivalent rate decreased to $12,682 from $12,975 a year earlier. However, the daily vessel operating expenses rose to $5,458 from $4,958 a year ago.
ADVERTISEMENT
— Long-term debt as of September 30, 2019, was $485.53 million while cash and cash equivalents stood at $127.27 million.