Okeanis Eco Tankers Corp. reported its unaudited condensed financial results for the third quarter and nine-month period of 2025, which are attached to this press release.
Financial performance of the Third Quarter Ended September 30, 2025
- Revenues of $90.6 million in Q3 2025, compared to $84.9 million in Q3 2024.
- Profit of $24.1 million in Q3 2025, compared to $14.5 million in Q3 2024.
- Vessel operating expenses of $11.7 million in Q3 2025, compared to $11.5 million in Q3 2024.
- Earnings per share of $0.75 in Q3 2025, compared to $0.45 in Q3 2024.
- Cash (including restricted cash) of $58.2 million as of September 30, 2025, compared to $56.0 million as of September 30, 2024.
- Financial performance of the Nine Months Ended September 30, 2025
Revenues of $264.7 million in 9M 2025, compared to $308.0 million in 9M 2024.
- Profit of $63.5 million in 9M 2025, compared to $95.7 million in 9M 2024.
- Vessel operating expenses of $33.8 million in 9M 2025, compared to $32.9 million in 9M 2024.
- Earnings per share of $1.97 in 9M 2025, compared to $2.97 in 9M 2024.
Alternative performance metrics and market development
- Time charter equivalent* (“TCE”, a non-IFRS measure*) revenue of $59.9 million in Q3 2025.
- EBITDA* and Adjusted EBITDA* (each non-IFRS measures*) of $44.9 million and $45.2 million, respectively, in Q3 2025.
- Adjusted profit* and Adjusted earnings per share* (each non-IFRS measures*) of $24.7 million or $0.77 per basic and diluted share in Q3 2025.
- Fleetwide daily TCE rate* of $46,600 per operating day in Q3 2025; VLCC and Suezmax TCE rates of $45,500 and $48,200 per operating day, respectively, in Q3 2025.
- Daily vessel operating expenses* (“Daily Opex”, a non-IFRS measure*) of $10,014 per calendar day, including management fees, in Q3 2025.
- In Q4 2025 to date, 80% of the available VLCC spot days have been booked at an average TCE rate of $88,100 per day and 48% of the available Suezmax spot days have been booked at an average TCE rate of $60,800 per day.
Declaration of Q3 2025 dividend
The Company’s board of directors declared a dividend of $0.75 per common share to shareholders. Dividends payable to common shares registered in the Euronext VPS will be distributed in NOK. The cash payment will be paid on December 11, 2025, to shareholders of record as of December 2, 2025. The common shares will be traded ex-dividend on the NYSE as from and including December 2, 2025, and the common shares will be traded ex-dividend on the Oslo Stock Exchange as from and including December 1, 2025. Due to the implementation of the Central Securities Depository Regulation (CSDR) in Norway, dividends payable on common shares registered with Euronext VPS are expected to be distributed to Euronext VPS shareholders on or about December 16, 2025.