Table of Contents As filed with the Securities and Exchange Commission on September 3, 2025. Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Form F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 C3IS INC. (Exact name of registrant as specified in its charter) Republic of the Marshall Islands 4412 N/A (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) 331 Kifissias Avenue Kifissia 14561 ...

Group 1 - The focus has shifted from primarily tech stocks to include offshore drilling, supply industry, and shipping sectors such as tankers, containers, and dry bulk [1] - There is an emerging interest in the fuel cell industry, which is still in its nascent stage [1] Group 2 - The individual has a background in auditing with PricewaterhouseCoopers and transitioned to day trading nearly 20 years ago [2] - The experience includes navigating significant market events such as the dotcom bubble, the aftermath of the World Trade Center attacks, and the subprime crisis [2]

Core Insights - The article discusses the increasing demand for precious metals, particularly gold and silver, driven by changes in investment regulations in countries like India and Saudi Arabia, as well as the ongoing economic conditions in the U.S. [2][30] - It highlights the potential for stagflation in the U.S. economy, suggesting that commodities and defensive stocks may be favorable investments, while bonds and growth stocks could face pressure [2][30]. CFTC Data Analysis - As of August 26, 2023, the net long positions for COMEX gold increased by 4.5% to 461 tons, while silver saw a significant rise of 18.8% to 5,319 tons [3][6]. - The total long positions for COMEX gold rose by 2.2%, and for silver, it increased by 10.3%, indicating a bullish sentiment in the market [3][6]. - The article notes that the net long positions for platinum and palladium have shown mixed results, with palladium remaining in a net short position for 137 weeks [7][18]. Global Investment Trends - Indian pension fund managers are advocating for increased investment limits in gold, real estate trusts, and infrastructure trusts, which could lead to a significant increase in gold demand [2][27]. - The Saudi Arabian central bank's recent purchases of silver ETFs signal a growing interest from sovereign wealth funds in precious metals [2][29]. Economic Indicators - The article suggests that the U.S. economy may be entering a stagflation phase, which historically leads to increased investment in commodities and physical assets [2][30]. - The correlation between gold prices and North American gold mining stocks has weakened, with the gold price to mining stock ratio dropping to its lowest in three years [19][21]. Market Sentiment - The gold-silver ratio, an indicator of market sentiment, was reported at 86.885, reflecting a slight increase but a cumulative decline of 4.4% for the year [23][24]. - The market anticipates potential interest rate cuts by the Federal Reserve, with expectations of two rate cuts by the end of the year [26][30].

Group 1 - The logistics sector has seen significant engagement from investors, particularly in the ASEAN and US markets [1] - Investment diversification has become a strategy for individuals, moving away from traditional savings in banks and properties [1] - The popularity of insurance companies in the Philippines has influenced investment choices since 2014 [1] Group 2 - Initial investments were made in blue-chip companies, but there has been a shift towards a diversified portfolio across various industries and market capitalizations [1] - The US market has been entered since 2020, with a focus on banks, hotels, shipping, and logistics companies [1] - The use of analytical tools and comparisons between the US and Philippine markets has enhanced investment strategies [1]

Ocean shipping rates have plunged 68% as retailers and manufacturers pull back on orders earlier than usual this year https://t.co/j4DNK8MbsB ...

Group 1 - Energy commodities continue to be essential for countries globally despite macroeconomic uncertainty and geopolitical tensions [1] - The prices of energy commodities are volatile due to changing demand and tariff issues, yet they possess significant growth potential [1] Group 2 - The logistics sector has seen increased interest in stock investing and macroeconomic analysis, particularly in the ASEAN and NYSE/NASDAQ markets [1] - There has been a diversification in investment strategies, with a focus on various sectors including banking, telecommunications, logistics, and hotels [1] - The popularity of insurance companies in the Philippines has influenced investment decisions since 2014, leading to a broader portfolio beyond traditional savings [1]

Financial Data and Key Metrics Changes - For Q2 2025, the company reported a net loss of $5.3 million, primarily due to a non-cash unrealized loss of $6.4 million on warrants, while adjusted net income was $1.1 million [3][16] - The net income for the first half of 2025 was $2.6 million, with voyage revenues of $10.7 million for Q2 2025, a slight decrease of 1% from $10.8 million in Q2 2024 [13][20] - The cash balance decreased by 82% to $2.3 million from $12.6 million at the end of 2024, attributed to the payment of $15.1 million for the Eco Spitfire and remaining bunkers [16] Business Line Data and Key Metrics Changes - Voyage costs increased to $4.7 million in Q2 2025 from $3.1 million in Q2 2024, due to the addition of the Eco Spitfire [14] - Operating expenses rose to $2.4 million in Q2 2025 from $2 million in Q2 2024, again due to the new vessel [15] - General and administrative expenses increased to $677,000 in Q2 2025 from $603,000 in Q2 2024, mainly due to stock-based compensation [15] Market Data and Key Metrics Changes - The dry bulk market saw a modest decline of approximately 1% in seaborne trade, with a 5% year-on-year drop in Chinese iron imports [4] - Coal and iron ore imports declined significantly, while grain trade experienced increased ton-mile demand due to trade route realignments [5] - The Aframax tanker market faced bearish conditions due to geopolitical tensions, with oil prices spiking in June 2025 but normalizing thereafter [9] Company Strategy and Development Direction - The company aims for disciplined growth through selective acquisitions of quality non-Chinese-built vessels, focusing on short to medium-term charters [18] - The strategy includes maintaining a high-quality fleet to reduce operating costs and improve safety, which provides a competitive advantage [18] - The company has increased its fleet capacity by over 230% since inception without incurring any bank debt, enhancing financial flexibility [20] Management's Comments on Operating Environment and Future Outlook - Management highlighted the resilience of the company amidst geopolitical factors, environmental regulations, and shifting demand patterns [20] - The company is confident in its adaptability to changing market conditions, which will support the development of existing core businesses and exploration of new growth opportunities [21] - The management emphasized the importance of high standards of safety and reliability in maintaining customer relationships [12] Other Important Information - The company successfully completed the dry docking of the Afrapearl II in August 2025 and settled the final balance of $14.6 million for the Eco Spitfire in April 2025 [20] - The fleet consists of three Handysize dry bulk carriers and one Aframax oil tanker, with an average age of 14.5 years [11] Q&A Session Summary - No specific questions or answers were documented in the provided content, indicating that the call may have concluded without a formal Q&A session.

Financial Data and Key Metrics Changes - For Q2 2025, the company reported a net loss of $5.3 million, primarily due to a non-cash unrealized loss of $6.4 million on warrants, while adjusted net income was $1.1 million [3][16] - The net income for the first half of 2025 was $2.6 million, with voyage revenues of $10.7 million for Q2 2025, a slight decrease of 1% from $10.8 million in Q2 2024 [13][20] - The cash balance decreased by 82% to $2.3 million compared to $12.6 million at the end of 2024, attributed to the payment of the remaining balance for the Eco Spitfire [16] Business Line Data and Key Metrics Changes - Voyage costs increased to $4.7 million in Q2 2025 from $3.1 million in Q2 2024, driven by the addition of the Eco Spitfire [13] - Operating expenses rose to $2.4 million in Q2 2025 from $2 million in Q2 2024, again due to the new vessel [14] - General and administrative expenses increased to $677,000 in Q2 2025 from $603,000 in Q2 2024, mainly due to stock-based compensation [14] Market Data and Key Metrics Changes - The dry bulk market saw a modest decline of approximately 1% in seaborne trade, with a 5% year-on-year drop in Chinese iron imports [4] - Coal and iron ore imports have declined significantly, while grain trade experienced increased ton-mile demand due to trade route realignments [5] - The Aframax tanker market faced bearish conditions due to geopolitical tensions, but there was a seasonal increase in demand [9] Company Strategy and Development Direction - The company aims for disciplined growth with a focus on acquiring quality non-Chinese-built vessels and maintaining high operational standards [18] - The strategy includes equity issuances for selective acquisitions and chartering to high-quality clients [18] - The company has increased its fleet capacity by over 230% since inception without incurring bank debt, enhancing financial flexibility [20] Management's Comments on Operating Environment and Future Outlook - Management highlighted the resilience of the company amidst geopolitical factors and environmental regulations affecting the shipping industry [20] - The company is confident in its adaptability to changing market conditions and plans to explore new growth opportunities [21] - The performance so far has demonstrated a solid foundation for future growth despite industry challenges [20] Other Important Information - The company successfully completed the dry docking of the Afrapearl II in August 2025 and has no vessels built in Chinese shipyards, mitigating tariff impacts [20] - The fleet consists of three Handysize dry bulk carriers and one Aframax oil tanker, with an average age of 14.5 years [11] Q&A Session Summary Question: What are the impacts of geopolitical tensions on the shipping market? - Management noted that geopolitical tensions have created both challenges and opportunities, particularly in the Aframax tanker market due to shifts in crude flows and sanctions [9][10] Question: How does the company plan to manage its fleet and operational costs? - The company emphasized maintaining a high-quality fleet through regular inspections and a comprehensive maintenance program, which helps reduce operating costs [18]

Company Overview - Performance Shipping Inc. is a global shipping company specializing in the ownership of tanker vessels [5] - The company employs its fleet on spot voyages, through pool arrangements, and on time charters [5] Fleet Expansion - The company has successfully named and delivered the M/T P. Tokyo, the second vessel from its current newbuilding program [1] - The M/T P. Tokyo is a 114,000 DWT LNG-ready Tier III product/crude oil tanker, constructed at Shanghai Waigaoqiao Shipbuilding Co. Ltd. [1][2] - This delivery follows the M/T P. Massport and is part of the company's fleet expansion and renewal strategy [2] - Two further newbuildings, an additional sister LR2 Aframax and an LR1 chemical/product tanker, are scheduled for delivery in early 2026 and early 2027 respectively [2] Charter Contracts - All three newbuilding LR2 vessels have secured five-year charter contracts with Clearlake Shipping Pte Ltd, a subsidiary of the Gunvor Group [3] - The M/T P. Tokyo has commenced operations under a five-year time charter contract at a gross rate of US$31,000 per day, with options for a sixth and seventh year at a base rate plus profit-sharing [3] Leadership Commentary - The CEO of the company expressed pride in welcoming the M/T P. Tokyo into the fleet, highlighting it as a representation of the company's fleet renewal and growth strategy [4] - The CEO also emphasized the importance of the partnership with Clearlake Shipping through the commencement of this second long-term charter [4]

Group 1 - Matson has promoted Vic Angoco to Executive Vice President, Operations, overseeing network operations from the new corporate office in Walnut Creek, California [1][6] - Angoco has a 35-year maritime career, joining Matson in 1996 and rising through various leadership roles, including Senior Vice President of the Pacific Division since 2010 [2][6] - Jennifer Tungul has been promoted to Senior Vice President, Alaska, succeeding Angoco, and has been with Matson since 2002, holding various finance and operations roles [3][6] Group 2 - Rob Olson has been promoted to Vice President, Alaska Operations, succeeding Tungul, and will manage terminal operations in Anchorage, Kodiak, and Dutch Harbor [4][6] - Olson joined Matson in 2022 as General Manager, Anchorage Terminal, and has experience in transportation and maintenance management [5][6] - The leadership changes are aimed at strengthening Matson's operations and ensuring effective management of Alaska operations [6]