Okeanis Eco Tankers(US:ECO) Globenewswire·2025-08-12 20:15Financial Performance Summary - Revenues for Q2 2025 were $93.9 million, a decrease from $112.0 million in Q2 2024, representing a decline of approximately 16.1% [6] - Profit for Q2 2025 was $26.9 million, down from $39.6 million in Q2 2024, indicating a decrease of about 32.2% [6] - Earnings per share for Q2 2025 were $0.84, compared to $1.23 in Q2 2024, reflecting a decline of approximately 31.7% [6] - Total revenues for the first six months of 2025 were $174.1 million, down from $223.1 million in the same period of 2024, a decrease of about 21.9% [6] - Profit for the first six months of 2025 was $39.4 million, compared to $81.1 million in the first half of 2024, a decline of approximately 51.4% [6] - Earnings per share for the first six months of 2025 were $1.23, down from $2.52 in the same period of 2024, indicating a decrease of about 51.2% [6] Operational Metrics - Vessel operating expenses for Q2 2025 were $11.5 million, compared to $10.8 million in Q2 2024, an increase of approximately 6.5% [6] - Fleetwide daily TCE rate for Q2 2025 was $50,500 per operating day, with VLCC and Suezmax TCE rates at $49,800 and $51,400 per operating day, respectively [6] - Daily vessel operating expenses in Q2 2025 were $9,963 per calendar day, including management fees [6] Dividend Declaration - The board of directors declared a dividend of $0.70 per common share, payable on September 5, 2025, to shareholders of record as of August 22, 2025 [4] - Common shares will be traded ex-dividend on the NYSE from August 22, 2025, and on the Oslo Stock Exchange from August 21, 2025 [4] Market Development - As of Q3 2025 to date, 77% of available VLCC spot days have been booked at an average TCE rate of $44,200 per day, and 61% of available Suezmax spot days have been booked at an average TCE rate of $34,200 per day [6]