Okeanis Eco Tankers Corp. reported its unaudited condensed financial results for the third quarter and nine-month period of 2026, which are attached to this press release.
Financial performance of the Third Quarter Ended September 30, 2026
· Revenues of $501.5 million in Q3 2026, compared to $90.6 million in Q3 2025.
· Profit of $299.6 million in Q3 2026, compared to $24.1 million in Q3 2025.
· Vessel operating expenses of $14.8 million in Q3 2026, compared to $11.7 million in Q3 2025.
· Earnings per share of $7.67 in Q3 2026, compared to $0.75 in Q3 2025.
· Cash (including restricted cash) of $233.1 million as of September 30, 2026, compared to $122.5 million as of December 31, 2025.
Financial performance of the Nine Months Ended September 30, 2026
· Revenues of $990.5 million in 9M 2026, compared to $264.7 million in 9M 2025.
· Profit of $618.2 million in 9M 2026, compared to $63.5 million in 9M 2025.
· Vessel operating expenses of $40.4 million in 9M 2026, compared to $33.8 million in 9M 2025.
· Earnings per share of $15.95 in 9M 2026, compared to $1.97 in 9M 2025.
Alternative performance metrics and market development
· Time charter equivalent* (“TCE”, a non-IFRS measure*) revenue of $338.3 million in Q3 2026.
· EBITDA* and Adjusted EBITDA* (each, a non-IFRS measure*) of $323.1 million and $320.4 million, respectively, in Q3 2026.
· Adjusted profit* and Adjusted earnings per share* (each, a non-IFRS measure*) of $299.5 million or $7.67 per basic and diluted share in Q3 2026.
· During Q3 2026, we entered into a series of short-term charter agreements for five of our VLCC vessels, for a period of 100-150 days each, with an average rate of $449,200 per day.
· In Q3 2026, fleetwide daily TCE rate* of $206,800 per available spot day and $209,100 per operating day; VLCC TCE rate of $269,300 per available spot day and $260,100 per operating day; and Suezmax TCE rate of $166,600 per available spot and operating day.
· Daily vessel operating expenses* (“Daily Opex”, a non-IFRS measure*) of $9,401 per calendar day, in Q3 2026.
· In Q4 2026 to date: on the VLCC fleet 48% of the available spot days have been booked at an average TCE rate of $688,800 per day and 87% of operating days have been booked at an average TCE rate of $430,300; on the Suezmax fleet 60% of available spot and operating days have been booked at an average TCE rate of $410,900.
Declaration of Q3 2026 dividend
The Company’s board of directors declared a dividend of $7.00 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 1, 2026, to shareholders of record as of November 23, 2026. The common shares will be traded ex-dividend on the NYSE as from and including November 23, 2026, and the common shares will be traded ex-dividend on the Oslo Stock Exchange as from and including November 20, 2026. 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 4, 2026.