Shipping firm C3is posts Q3 revenue decline due to tanker dry-docking

C3is

18/11/2025 14:10

Overview

C3is Q3 2025 revenue decreased by 48% due to Aframax tanker dry-docking

Net income for Q3 2025 was $2.7 mln, with EPS of $2.32

Company completed a $2 mln stock offering to institutional investors

Result Drivers

DRY-DOCKING IMPACT - Afrapearl II dry-docking led to increased idle days, reducing fleet operational utilization to 67.7%

VOYAGE EXPENSES - Decrease in voyage expenses due to Afrapearl II's idle periods and reduced bunker consumption

SPOT MARKET RATES - Aframax tanker achieved spot market rates of around $52,000 per day

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
$4.80 mln
Q3 Net Income
$2.70 mln
Q3 Basic EPS
$2.32
Q3 EBITDA
$4.20 mln


Press Release: ID:nGNX3ybNWF

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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.)