Revenue came in at $14.2m, a 112% increase from the prior quarter, thanks to a 53% increase in average spot rates combined with additional ship days.
“As expected, spot market benchmarks weakened during August and most of September following the unusual July strength, though even these weaker rates were the highest seen in the past five years,” Ridgebury said.
“Our vessels performed very well against this backdrop, as the Blue Fin pool manager followed a strategy of booking longer voyages earlier in the quarter.
“This
