Welcome to our dedicated page for Okeanis Eco Tankers news (Ticker: eco), a resource for investors and traders seeking the latest updates and insights on Okeanis Eco Tankers stock.
Okeanis Eco Tankers Corp. (symbol: ECO) is a prominent international tanker company based in Greece, specializing in the ownership, chartering, and operation of tanker vessels. Incorporated on April 30, 2018, under the laws of the Republic of the Marshall Islands, Okeanis Eco Tankers is listed on the Oslo Børs and the New York Stock Exchange.
The company operates a fleet of approximately seven tanker vessels through its vessel-owning subsidiaries and has around eight tanker vessels on order. The current sailing fleet comprises six modern scrubber-fitted Suezmax tankers and eight VLCC (Very Large Crude Carrier) tankers, ensuring efficient and environmentally friendly transportation of crude oil and refined products across the globe.
Okeanis Eco Tankers continuously strives to enhance its operational efficiency and environmental performance. The company's commitment to eco-friendly practices is evident in its use of scrubber-fitted vessels that help reduce sulfur emissions, aligning with global environmental regulations.
In recent news, the company reported its unaudited condensed financial statements for Q4 2023 and the full-year period, reflecting OET's robust financial health and operational success. The declaration of the Q4 2023 capital return underscores its commitment to delivering value to shareholders. Moreover, the company announced a dividend classified as a return of capital on February 29, 2024.
Okeanis Eco Tankers’ strategic vision involves strengthening its market position through timely fleet expansion and maintaining high standards of service. The recent financial performance and upcoming projects highlight the company’s potential for sustained growth and profitability, making it a significant player in the maritime transport industry.
For more details on financial results and company updates, visit their official website or contact their investor relations team.
Okeanis Eco Tankers Corp. (NYSE:ECO / OSE:OET) announced new financings for its fleet. The company secured a $60 million senior secured credit facility for the VLCC vessel Nissos Kythnos, provided by Danish Ship Finance A/S. This facility will close in May 2024 and is priced at 140 basis points over the Term SOFR until December 2026. The facility will be repaid in quarterly installments with a balloon payment at maturity. Additionally, a sustainability-linked margin adjustment will start in 2025.
OET also entered a supplemental agreement for the VLCC vessel Nissos Donoussa, reducing its margin to 165 basis points over Term SOFR. CFO Iraklis Sbarounis emphasized these transactions' role in reducing debt costs and enhancing capital structure. This development follows a series of refinancings and financing amendments over the last 10 months.
Okeanis Eco Tankers Corp. (NYSE: ECO / OSE: OET) announced a Q1 2024 dividend of USD 1.10 per common share, classified as a return of capital. The Board approved this dividend on May 15, 2024. Due to the Central Securities Depository Regulation in Norway, shareholders with shares registered in Euronext VPS will receive dividends in NOK. Key dates include:
Last day including right OSE: June 3, 2024.
Last day including right NYSE: June 4, 2024.
Ex-date OSE: June 4, 2024.
Ex-date NYSE: June 5, 2024.
Record date: June 5, 2024.
Payment date: June 20, 2024.
Due to CSDR, dividends to Euronext VPS shareholders will be distributed around June 25, 2024. For further details, shareholders are encouraged to contact their bank or broker.
Okeanis Eco Tankers Corp. (NYSE:ECO / OSE:OET) reported its unaudited financial statements for Q1 2024. The company achieved TCE revenue of $81.0 million and Adjusted EBITDA of $65.2 million. Adjusted profits were $39.6 million, with earnings per share at $1.23. The fleetwide daily TCE rate was $63,600, with VLCC and Suezmax rates at $68,800 and $56,700, respectively. Daily vessel operating expenses averaged $9,208 per calendar day.
For Q2 2024, 82% of VLCC spot days were booked at $75,900 per day, and 57% of Suezmax days were booked at $60,800. The company declared a Q1 dividend of $1.10 per share, payable on June 20, 2024, to shareholders of record as of June 5, 2024. The dividend will be classified as a return of paid-in capital. More details are available on the company's website.
Okeanis Eco Tankers Corp. (NYSE:ECO) will release its unaudited financial results for Q1 2024 on May 16, 2024. The company will host a webcast and teleconference at 13:30 CET to discuss the results. Participants can join the webcast through a provided link or via international conference call. Presentation materials for the event will be available on the company's investor relations website before the webcast. CFO Iraklis Sbarounis and Capital Link's President Nicolas Bornozis are the designated contacts for further inquiries.
Okeanis Eco Tankers Corp. announced its Annual Meeting of Shareholders on May 31, 2024, to elect directors and appoint an independent registered public accounting firm. John Kittmer will not seek re-election, and Mr. Francis Dunne will potentially fill the vacancy. The Company's executive management team remains unchanged. Mr. Dunne brings over 40 years of legal experience in maritime law, adding value to the board. The Company expressed gratitude for Mr. Kittmer's service and looks forward to continued success.
Okeanis Eco Tankers Corp. announced the availability of its 2023 Annual Report on Form 20-F. The report can be downloaded from the SEC's website or the Company's website. Hard copies are available upon request.
FAQ
What is the current stock price of Okeanis Eco Tankers (eco)?
What is the market cap of Okeanis Eco Tankers (eco)?
What does Okeanis Eco Tankers Corp. do?
Where is Okeanis Eco Tankers Corp. based?
How many vessels does Okeanis Eco Tankers Corp. operate?
What types of tankers are in Okeanis Eco Tankers' fleet?
When was Okeanis Eco Tankers Corp. incorporated?
On which stock exchanges is Okeanis Eco Tankers Corp. listed?
What recent financial results has Okeanis Eco Tankers Corp. reported?
Has Okeanis Eco Tankers Corp. announced any recent dividends?
How can I access Okeanis Eco Tankers Corp.'s financial reports?
Who can I contact for investor relations information at Okeanis Eco Tankers Corp.?
