Finance

Budget against actual for the year so far, invoices waiting for approval, overdue payables and receivables, and what moves with the exchange rates.

OPEX actual, 2026 so far

$48.1M+1% vs budget

Invoices awaiting approval

31+25% invoices in vs prior 30 days

Overdue payables

$4.6M+8 (18 invoices) vs 4 weeks ago

Overdue receivables

$12.9M+5 (7 invoices) vs 4 weeks ago

Fleet OPEX by month, 2026

OPEX per month against the budget, all vessels.

Simulated

Fleet OPEX per month, actual against budget
month	Actual	Budget
Jan 2026	5037711	4760207
Feb	4978089	4760207
Mar	4763790	4760207
Apr	4744378	4760207
May	4765567	4760207
Jun	4739516	4760207
Jul	4735958	4760207
Aug	4795598	4760207
Sep	4802008	4760207
Oct	4708831	4760207

Pay or chase now

28 overdue or disputed; the bar fills towards 90 days.

All invoices

Pay or chase now
Item	Due	Done
Northmere Electrical Marine · $692	Disputed	100%
Lighthouse Port Agents, Ras Tanura · $34K	Disputed	100%
Meridian Engine Parts · $3K	Disputed	100%
Tamsin Bay Energy · $1.9M	Receivable · 44 days overdue	49%
Lighthouse Port Agents, Rotterdam · $24K	Payable · 40 days overdue	44%

Most over budget, year to date

Budgets

OPEX year to date by vessel, actual against budget
vessel	Actual	Budget
Boğaziçi	2274563	2222700
Atlantic	2853725	2797800
Aegean	2260201	2219990
Voyager	2469376	2427900
Indus	2294996	2262120
Southern Cross	2960288	2919300
Northwind	2842086	2803200
Bluewater	2294493	2263200

Largest invoice awaiting approval

INV-10854 · Ambergate Energy Supply

$1.3M

MV Voyager, due Nov 29, 2026. Above the limit: it needs a publisher to approve.

Ageing of open invoices

Open invoices by days overdue, payables against receivables
bucket	Payable	Receivable
Not due	11797603.47	9388523.41
1–30 d	3020672.18	10957873.87
31–60 d	1549994.97	1915848
61–90 d	0	0
90+ d	0	0

Cash out in the next 30 days: $16,368,271 on 57 approved payables.

Waiting for approval

All invoices

INV-10854Ambergate Energy Supply · MV Voyager$1,307,380.88Needs publish
INV-10856Ambergate Energy Supply · MV Pacifica$939,351.15Needs publish
INV-10829Lighthouse Port Agents, Cape Town · MV Seabourn$41,681.00Needs publish
INV-10824Harbourgate Shipping Agency, Qingdao · MV Bluewater$39,184.00Needs publish
INV-10857Harbourgate Shipping Agency, İzmit · MV Orion$37,823.00Needs publish
INV-10831Saltire Hull & Deck · MV Southern Cross$25,149.00Needs publish
INV-10834Oakhaven Diesel Works · MV Straits$22,498.00Needs publish

Currency exposure

Currency	Rate	Payable	Receivable
USD	1	$18,568,312.74	$22,262,245.28
GBP	0.7905	£275,315.84 ≈ $343,668	£0.00
SGD	1.3221	S$30,035.47 ≈ $22,552	S$0.00
EUR	0.9433	€18,569.19 ≈ $19,817	€0.00

Rates per USD as of Oct 30, 2026 (simulated): EUR 0.9433 · GBP 0.7905 · SGD 1.3221 · NOK 10.5817

Open invoices by days overdue, payables against receivables
bucket	Payable	Receivable
Not due	11797603.47	9388523.41
1–30 d	3020672.18	10957873.87
31–60 d	1549994.97	1915848
61–90 d	0	0
90+ d	0	0

Currency

Rate

Payable

Receivable

USD

$18,568,312.74

$22,262,245.28

GBP

0.7905

£275,315.84 ≈ $343,668

£0.00

SGD

1.3221

S$30,035.47 ≈ $22,552

S$0.00

EUR

0.9433

€18,569.19 ≈ $19,817

€0.00