G2 Ocean publishes first whole-year financial report
2018 was the first year G2 Ocean had 12 months’ operations. The year ended with a gross revenue of USD 1,305.5 million.
G2 Ocean was established on 26th of April 2017. The operations commenced on 2nd of May. That means our first whole year in business was 2018. And the financial report for that first year is now public.
The dry bulk market improved throughout 2018, before worsening with lower freight rates at the end of the year. G2 Ocean’s gross revenue in 2018 was USD 1,305.5 million whereof the Open Hatch segment contributed with USD 1,180.4 million and USD 125.1 million came from the Conventional Bulk segment.
The income from operations before pool distribution amounted to USD 486.7 million resulting in a pool distribution to the Pool Participants of USD 478.2 million.
G2 Ocean’s book equity was USD 29.2 million at year end.
The complete Financial Report is available to the right.