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