Castor Maritime Inc. (ticker: CMBT) reported its second-quarter financial results, declaring a dividend of 5 cents per share despite an EPS loss of $0.04, which included substantial gains from asset sales. The company provided a robust outlook for the third quarter, highlighting stronger time charter equivalent (TCE) rates driven by its expanded fleet of large Capesize and Newcastlemax vessels. Trading activity for CMBT was notably high, with shares rising as much as 6.8% on volumes approaching 8 million shares, potentially surpassing the previous day's 9.3 million volume. In related maritime sector earnings, Castor Logistics Corporation (CLCO) posted an adjusted EBITDA of $56.5 million and a TCE of $69,600 for Q2, while Trip.com Group (TCOM) saw a 7.7% increase in pre-market trading following its earnings release.
$CMBT up 6.8% on nearly 8M volume. Likely will surpass the 9.3M volume yesterday. https://t.co/LWCCbyIWwA
$CMBT now +5%… 5.4M volume … very high https://t.co/QcyFUifwnx
$CMBT also losing its pre market gains as heavy volume continues. $GOGL https://t.co/UcsHS1OxNa