Daily Time Charter Equivalent Rate
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Okeanis Eco Tankers Corp. – Commercial Update
Globenewswire· 2026-01-20 21:15
Core Viewpoint - Okeanis Eco Tankers Corp. provides a commercial update on its fleet's Daily Time Charter Equivalent Rate (Daily TCE Rate), highlighting recent vessel deliveries and anticipated revenue performance for Q4 2025 and Q1 2026 [1][2][4]. Fleet and Vessel Updates - The company successfully delivered two new Suezmax vessels, Nissos Piperi and Nissos Serifopoula, on January 8 and January 14, 2026, respectively [2]. - The fleet consists of eight modern scrubber-fitted Suezmax tankers and eight modern scrubber-fitted VLCC tankers [8]. Daily TCE Rate Insights - For Q4 2025, the anticipated fleetwide Daily TCE Rate is approximately $75,400 per operating day, with 26% of available fleetwide spot days booked at an average Daily TCE Rate of $106,700 in Q1 2026 [4]. - The anticipated Daily TCE Rate for VLCC vessels in Q4 2025 is approximately $91,300, with 37% of available VLCC spot days booked at an average Daily TCE Rate of $110,100 in Q1 2026 [4]. - For Suezmax vessels, the anticipated Daily TCE Rate for Q4 2025 is approximately $50,800, with 16% of available Suezmax spot days booked at an average Daily TCE Rate of $98,500 in Q1 2026 [4]. Financial Performance Metrics - The calculation of Daily TCE Rate involves dividing revenues (time charter and/or voyage charter revenues) by the number of operating days, which are defined as calendar days minus off-hire days [3][5]. - For Q4 2025, the company reported revenues of $124.03 million, voyage expenses of $31.45 million, and commissions of $1.25 million, resulting in a time charter equivalent revenue of $91.33 million [7]. Reporting and Future Announcements - The company plans to announce its financial results for Q4 2025 on February 18, 2026, with results subject to approval by the Board of Directors [7].