Okeanis Eco Tankers Corp. Reports Financial Results for the First Quarter of 2025

Financial Performance - Revenues for Q1 2025 were $80.1 million, a decrease from$111.1 million in Q1 2024 [6] - Profit for Q1 2025 was $12.6 million, down from$41.6 million in Q1 2024 [6] - Earnings per share for Q1 2025 were $0.39, compared to$1.29 in Q1 2024 [6] - Cash (including restricted cash) as of March 31, 2025, was $43.0 million, down from$54.3 million as of December 31, 2024 [6] Operational Metrics - Time charter equivalent (TCE) revenue for Q1 2025 was $48.6 million [6] - EBITDA and Adjusted EBITDA for Q1 2025 were$33.8 million and $32.5 million, respectively [6] - Fleetwide daily TCE rate was$38,500 per operating day in Q1 2025, with VLCC and Suezmax TCE rates at $38,000 and$39,200 per operating day, respectively [6] - Daily vessel operating expenses were $9,233 per calendar day in Q1 2025 [6] Dividend Declaration - The board of directors declared a dividend of$0.32 per common share, payable on June 12, 2025, to shareholders of record as of June 3, 2025 [4] - Common shares will be traded ex-dividend on the NYSE from June 3, 2025, and on the Oslo Stock Exchange from June 2, 2025 [4] Market Development - As of Q2 2025 to date, 72% of available VLCC spot days have been booked at an average TCE rate of $46,700 per day, and 64$50,600 per day [6]