Okeanis Eco Tankers Corp. Earnings Recaps
Q2 2026
Aug 8, 2026
The 7.7% stock jump reflects clear investor approval of Okeanis Eco Tankers' record earnings driven by exceptionally strong freight rates and substantial dividend payouts, signaling superior operational performance and value returned to shareholders.
Key takeaways
- Adjusted EPS reached a record $5.91 in Q2 and $8.28 for the first half of 2026, supported by fleet-wide TCE averaging around $181,000 per vessel per day.
- Spot VLCC and Suezmax rates soared to $214,000 and $175,000 per day respectively, underpinning the top-line strength.
- The company declared its 17th consecutive quarterly dividend of $5.25 per share, the highest quarterly payout since inception, distributing nearly 90% of net income.
- Fleet expanded to 18 modern, eco scrubber-fitted vessels, fully delivered as planned, driving enhanced operational capacity with utilization at 99%.
- Financial position remains solid with $248 million in cash, manageable leverage at 35% book basis and below 25% on market-adjusted LTV, alongside reduced average borrowing costs by over 200 basis points.
Q3 2025
Nov 14, 2025
Okeanis Eco Tankers reported robust Q3 2025 results with adjusted EBITDA of $45.2 million and a consistent dividend of $0.75 per share, reflecting strategic asset management amidst a seasonally low period.
Key takeaways
- Achieved fleet-wide time charter equivalent of approximately $47,000 per vessel per day, with VLCCs at $46,000 and Suezmaxes at $48,000.
- Declared a 14th consecutive dividend of $0.75 per share, bringing total distributions over the last year to $2.12 per share.
- Successfully positioned fleet for Q4, with 80% of VLCC spot days contracted at $88,100 per day, indicating strong future earnings potential.
- Fleet utilization remained near perfect, significantly outpacing peers with performance improvements of 30% for VLCCs and 45% for Suezmaxes.
- Maintained a strong balance sheet with $58 million in cash and improved refinancing terms, enhancing operational flexibility and cost efficiency.