Gearbulk IntegratedReport 2024 Paperturn - Flipbook - Page 88
GEARBULK
MANUFACTURED CAPITAL
EVALUATING
THE CAPITAL
What Manufactured Capital means to Gearbulk
How Manufactured Capital supports our value creation
Manufactured capital is de昀椀ned as the vessels Gearbulk owns
goals
and operates, contributing to the company’s business model.
Vessels are the income platform for GB’s activity and have a
longer useful economic lifetime than market average. Gearbulk is working with the most reputable shipyards to ensure
good maintenance and upkeep of the 昀氀eet at a cost-e昀케cient
level. Gearbulk strive to optimize the maintenance program
towards maximize operational capacity.
KEY OUTPUTS
Value created
Value eroded
56 MUSD
~ 16 MUSD
TOTAL ASSET INVESTMENT
DRYDOCK INVESTMENTS
(2023: ~120 MUSD)
(2023: ~17 MUSD)
~ 17,934
~ 17,830
TOTAL OPERATING DAYS
DAYS ON HIRE
(2023: 17,345)
(2023: ~16,840)
0
NET CHANGE IN VESSELS
(2023: 14)
88
Value sustained
PART 4 – HOW WE CREATE VALUE
~ 41.6
M TON MILES
(2023: ~43.4M)
