Business UpdateJun 3, 2026, 09:32 AM
Icon Energy Secures $3.7M Revenue with M/V Alfa Fixed Charter
AI Summary
Icon Energy Corp. provided a commercial update, announcing it has converted the M/V Alfa's charter to a fixed hire rate of $18,000 per day for seven months, from June to December 2026. This conversion is expected to contribute approximately $3.7 million to the company's estimated minimum contracted revenue, enhancing earnings visibility through year-end. The M/V Bravo and M/V Charlie continue to operate on floating daily rates, maintaining a balanced charter portfolio.
Key Highlights
- M/V Alfa charter fixed at $18,000 per day for seven months, June to December 2026.
- Fixed charter contributes approximately $3.7 million to minimum contracted revenue.
- Secures earnings visibility and minimum contractual coverage through year-end 2026.
- M/V Bravo and M/V Charlie continue earning hire at floating daily rates.
- M/V Charlie's index-linked time charter extends to December 2027.
- Icon Energy's fleet comprises three dry bulk vessels: Alfa, Bravo, and Charlie.
Price Impact