Contships Logistics (CONTSHIPS) Q4 2025 earnings summary

Executive summary

• Achieved net profit of $38.1M for 2025, up from $33.5M in 2024, with revenue rising 6% year-over-year to $203.7M.

• Fleet renewal included acquisition of five vessels for $72M and disposal of 15 vessels for $148.3M in proceeds.

• Fleet utilization reached 99% in 2025, with average daily time charter rate of $14,720.

• Secured revenue backlog as of Jan 1, 2026, stands at $213.8M, with 80% charter coverage for 2026.

Financial highlights

• Q4 2025 net profit was $13.5M, reversing a $3.7M loss in Q4 2024; quarterly revenue declined 3% year-over-year due to fewer vessels.

• Operating expenses for 2025 fell to $77.2M from $86.4M in 2024, reflecting a smaller fleet.

• Interest and finance costs rose to $21.1M in 2025, mainly due to new bond issuances.

• Cash and cash equivalents at year-end 2025 were $156.6M, up from $29.0M at end-2024.

• Shareholders’ equity increased to $427.1M from $352.1M year-over-year.

Outlook and guidance

• 2026 expected average gross daily time charter rate is $16,800.

• Market conditions remain strong for container tonnage providers, but risk of oversupply exists if Suez routings normalize and newbuild deliveries accelerate.

• Owners with forward employment and disciplined capital allocation are best positioned for resilience.