Greece's C3is Q4 revenue rises
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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