Greece's C3is Q4 revenue rises

C3is

19/02/2026 14:20

Overview

Greece-based shipowner's Q4 revenue rose yr/yr, driven by higher TCE rates

Net income for Q4 was $5.2 mln, with EPS of $5.82

Company acquiring two product tankers, delivery expected in 2026

Outlook

Company expects delivery of two product tankers in 2026, expanding fleet capacity by 387%

C3is sees strong market fundamentals with elevated freight rates and resilient oil demand

Company anticipates global seaborne trade growth driven by population and biofuel demand

Result Drivers

HIGHER TCE RATES - Q4 revenue increase driven by 24% rise in daily TCE compared to Q4 2024

SPOT MARKET PERFORMANCE - Aframax tanker achieved high voyage charter rates of around $60,000 per day in spot market

COST REDUCTIONS - Decrease in voyage and operating expenses due to lower bunker consumption and maintenance costs

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
$10.60 mln
Q4 Net Income
$5.20 mln
Q4 Basic EPS
$5.20
Q4 EBITDA
$6.70 mln


Press Release: ID:nGNX2yTqsK

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)