Quarterly ResultMay 13, 2026, 04:28 PM
Okeanis Eco Tankers Q1 Profit Jumps 601% to $88.3M; Declares $2.00 Dividend
AI Summary
Okeanis Eco Tankers Corp. reported significantly improved financial results for Q1 2026, with profit surging by 601% to $88.3 million and revenues increasing by 112.5% to $170.2 million year-over-year. The company declared a Q1 2026 dividend of $2.00 per common share. Strategic activities included a $130 million share offering, the acquisition of two newbuilding Suezmax vessels, and securing $190 million in financing for vessel repurchases and newbuilding acquisitions.
Key Highlights
- Q1 2026 profit increased 601% to $88.3 million from $12.6 million in Q1 2025.
- Q1 2026 revenues rose 112.5% to $170.2 million, up from $80.1 million in Q1 2025.
- Declared a Q1 2026 dividend of $2.00 per common share, payable June 5, 2026.
- Q1 2026 Adjusted EBITDA grew 239% to $110.1 million from $32.5 million in Q1 2025.
- Fleetwide daily TCE rate for Q1 2026 was $93,100, a 142% increase from Q1 2025.
- Raised approximately $130.0 million gross from a common stock offering in January 2026.
- Secured $190.0 million in new facility agreements for vessel repurchases and newbuilding acquisitions.
- Booked 46% of Q2 2026 VLCC spot days at $223,900/day and 60% of Suezmax days at $187,300/day.