Financial Data and Key Metrics Changes - For the first nine months of 2025, the company achieved a net income of EUR 5.26 million compared to a net loss of EUR 3 million for the same period in 2024, an increase of 281% [3] - EBITDA for the same period was reported at $10 million, up from $3 million in 2024, reflecting a 245% increase [4] - Voyage revenues decreased by 24% to $24.2 million compared to $32.9 million in 2024, primarily due to the dry docking of the Haframx II tanker [14] Business Line Data and Key Metrics Changes - The time charter equivalent rates of vessels dropped by 40% compared to the same period in 2024 [3] - Voyage costs for the first nine months of 2025 were $9.4 million, down from $10.4 million in 2024, attributed to fewer voyage days due to dry docking [15] Market Data and Key Metrics Changes - The dry bulk trade showed resilience, with strong iron ore volumes to China and a moderate rebound expected in coal trade for 2026 [4][5] - The grain trade boomed in Q3, driven by high volumes of Brazilian soybeans purchased by China, resulting in a 35% decline in US exports by the end of Q3 [5] Company Strategy and Development Direction - The company aims for disciplined growth with a focus on acquiring quality non-Chinese-built vessels and maintaining a high-quality fleet to reduce operating costs and improve safety [20][21] - The strategy includes chartering to high-quality clients such as commodity traders and oil producers, with a focus on short to medium-term charters [21] Management's Comments on Operating Environment and Future Outlook - The management noted that despite geopolitical uncertainties, major economies are still growing, and trade volumes are rising across sectors [23] - The company has built resilient foundations adaptable to changing market dynamics and will continue to explore new growth opportunities [24] Other Important Information - The company reported a cash balance of $6.6 million, a decrease of 48% from $12.6 million at the end of 2024, due to the settlement of the purchase price for the EcoSpeedFire [19] - A warrant liability of EUR 3.9 million was recorded, a drop of 63% from the year-end balance of 2024 [20] Q&A Session Summary - No specific questions or answers were provided in the content regarding the Q&A session.

Financial Data and Key Metrics Changes - For the first nine months of 2025, the company achieved a net income of EUR 5.26 million, a significant increase of 281% compared to a net loss of EUR 3 million for the same period in 2024 [3] - EBITDA for the same period was reported at $10 million, up 245% from $3 million in 2024 [4] - Voyage revenues decreased by 24% to $24.2 million compared to $32.9 million in 2024, primarily due to the dry docking of the Haframx II tanker [14] Business Line Data and Key Metrics Changes - The time charter equivalent rates for vessels dropped by 40% compared to the same period in 2024, impacting overall voyage revenues [3][14] - Voyage costs decreased to $9.4 million from $10.4 million in 2024, attributed to fewer voyage days due to the dry docking of the Haframx II tanker [14][15] Market Data and Key Metrics Changes - The dry bulk trade showed resilience, with strong iron ore volumes to China and a potential rebound in coal trade expected in 2026 [4][5] - The grain trade experienced a boom in Q3, driven by increased Brazilian soybean purchases by China, resulting in a 35% decline in US exports by the end of Q3 [5] 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 and spot voyages [18][19] - The strategy includes maintaining a high-quality fleet to reduce operating costs and improve safety, which provides a competitive advantage [18] Management's Comments on Operating Environment and Future Outlook - The management noted that the shipping market remains uncertain due to geopolitical factors, but major economies continue to grow, and trade volumes are rising [20][21] - The company has built resilient foundations adaptable to changing market dynamics and plans to enhance its core businesses while exploring new growth opportunities [21] Other Important Information - The company reported a cash balance of $6.6 million, down 48% from $12.6 million at the end of 2024, primarily due to the settlement of the EcoSpeedFire purchase [17] - A warrant liability of EUR 3.9 million was recorded, a decrease of 63% from the previous year [18] Q&A Session Summary - No specific questions or answers were documented in the provided content, thus this section is not applicable.

Group 1 - The article does not provide any specific content related to a company or industry [1]

Financial Data and Key Metrics Changes - The company reported adjusted EPS for Q3 2025 of $6.75 per share, compared to $6.5 per share in Q3 2024, indicating a slight increase in profitability [9] - Adjusted net income decreased by $2.7 million to $124.1 million in Q3 2025 from $126.8 million in Q3 2024, primarily due to increased operating costs and lower dividend income [10] - Adjusted EBITDA increased by 1.5% to $181.6 million in Q3 2025 from $178.9 million in Q3 2024 [13] Business Line Data and Key Metrics Changes - Vessel operating expenses increased by $2.4 million to $52.3 million in Q3 2025, attributed to a higher average number of vessels in the fleet [11] - Daily operating costs slightly increased to $6,927 per vessel per day in Q3 2025 from $6,860 in Q3 2024 [11] - The container segment experienced a $4.3 million decrease in revenues due to lower contracted charter rates [10] Market Data and Key Metrics Changes - The charter market remains robust with an all-time low idle fleet, and demand for mid-size and larger vessels continues unabated [4][5] - The company has secured new charters for vessels extending as far out as early 2028, indicating strong future demand [5] Company Strategy and Development Direction - The company is selectively extending its new building program at below-market prices and has secured multi-year employment for new orders, enhancing its contracted revenue backlog [5] - The company is also investing in the dry bulk cape-sized market segment, expecting outsized returns due to supply constraints [8] Management's Comments on Operating Environment and Future Outlook - The management noted that the war in Ukraine and Middle East tensions continue to impact operations, but trade has resumed unhindered between the U.S. and China [4] - The management expressed optimism about the demand for mid-sized ships and the overall market dynamics, although predicting the strength of 2026 remains challenging [22][23] Other Important Information - The company completed a $500 million unsecured seven-year bond offering with a 6.85% coupon, enhancing its financial flexibility [6] - The quarterly dividend was increased to $0.90 per share, reflecting a commitment to returning value to shareholders [8][14] Q&A Session Summary Question: Insights on container shipping chartering activity and future demand - Management noted that despite lower trade and tariffs, demand for charters remains high due to global production capacity and market dynamics outside traditional Western areas [20][22] Question: Update on Cape-sized vessel investment and future plans - The company aims to grow its investment in the dry bulk market selectively, focusing on high-quality second-hand vessels rather than new builds [25] Question: Share repurchase program activity - Management confirmed that the share buyback program continues, albeit at a smaller pace, as they believe the stock is undervalued [26][27]

Q3 & 9M 2025 Financial & Operating Results November 18, 2025 C3is Inc. 1 This presentation contains forward-looking statements within the meaning of applicable federal securities laws. Such statements are based upon current expectations that involve risks and uncertainties. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. For example, words such as "may," "will," "should," "estimates," "intends," and similar expressions are intended t ...

Financial Data and Key Metrics Changes - Adjusted EPS for Q3 2025 was $6.75 per share, compared to $6.50 per share in Q3 2024, reflecting a slight increase [9] - Adjusted net income decreased by $2.7 million to $124.1 million in Q3 2025 from $126.8 million in Q3 2024, primarily due to increased operating costs and decreased dividend income [10] - Adjusted EBITDA increased by 1.5% to $181.6 million in Q3 2025 from $178.9 million in Q3 2024 [13] Business Line Data and Key Metrics Changes - Vessel operating expenses increased by $2.4 million to $52.3 million in Q3 2025, attributed to a higher average number of vessels in the fleet [11] - Daily operating cost slightly increased to $6,927 per vessel per day in Q3 2025 from $6,860 in Q3 2024 [11] - Revenues from the container segment decreased by $4.3 million due to lower contracted charter rates [10] Market Data and Key Metrics Changes - Demand for mid-size and larger vessels remains strong, with new charters secured as far out as 2028 [5] - The charter market is robust, with the idle fleet at an all-time low [4] - Contracted charter backlog improved to $4.1 billion, with a 4.3-year average charter duration [13] Company Strategy and Development Direction - The company is selectively extending its new building program at below-market prices and has secured multi-year employment for new orders [5] - The company is also investing in the dry bulk cape-sized market segment, expecting outsized returns due to supply constraints [7] - A quarterly dividend increase to $0.90 per share was announced, consistent with the policy of yearly increases [7] Management's Comments on Operating Environment and Future Outlook - The ongoing war in Ukraine and the situation in the Middle East continue to impact operations, but trade tensions between the U.S. and China have eased, allowing trade to resume [4] - The company anticipates that conventional fuels will remain prevalent in the medium term despite long-term decarbonization goals [5] - Management expressed uncertainty about the strength of the market in 2026, noting that the opening of the canal will be a crucial factor [23] Other Important Information - The company completed a $500 million unsecured bond offering with a 6.85% coupon, enhancing its financial flexibility [6] - As of September 30, 2025, cash stood at $596 million, with total liquidity at $971 million [14] Q&A Session Questions and Answers Question: What is driving the strong demand for charters despite lower trade and tariffs? - Management noted that while tariffs have not changed overall production capacity, goods have been redirected, leading to increased demand for mid-sized ships outside traditional markets [22] Question: What triggered the investment in the Cape-sized vessel? - The company aims to grow its investment in the dry bulk market, which currently represents less than 5% of overall assets, and is focusing on selectively expanding in the second-hand market [25] Question: What is the outlook for the share repurchase program? - Management confirmed that the share buyback program continues, albeit at a smaller pace, as they believe the stock is undervalued [27]

Core Insights - The logistics sector has seen significant engagement from investors, particularly in the ASEAN and US markets, highlighting its growth potential and diversification opportunities [1] - The popularity of insurance companies in the Philippines since 2014 has influenced investment strategies, leading to a broader portfolio that includes various industries and market capitalizations [1] - The entry into the US market in 2020 has allowed for comparative analysis between US and ASEAN markets, particularly in sectors like banking, hotels, and logistics [1] Investment Strategies - Initial investments were focused on blue-chip companies, but the strategy has evolved to include a mix of retirement holdings and trading profits across different sectors [1] - The encouragement to diversify investments beyond traditional savings in banks and properties has led to a more dynamic investment approach [1] - The use of platforms like Seeking Alpha has facilitated knowledge sharing and enhanced market awareness, particularly for newer investors in the US market [1]

Core Viewpoint - C3is Inc. reported a decline in revenues and operational performance for the third quarter of 2025 compared to the same period in 2024, primarily due to the dry-docking of its Aframax tanker and a decrease in Time Charter Equivalent (TCE) rates. However, the company remains financially stable with no debt and a focus on enhancing its core business and exploring new growth opportunities [11][5][9]. Operational and Financial Highlights - The company achieved revenues of $4.8 million for Q3 2025, down from $9.3 million in Q3 2024, with a daily TCE of $8,733, a 33% decrease from $13,084 in the previous year [5][31]. - Fleet operational utilization was 67.7% in Q3 2025, significantly lower than 90.2% in Q3 2024, mainly due to the Aframax tanker being idle during dry-docking [5][21]. - Net income for Q3 2025 was $2.7 million, with an EBITDA of $4.2 million, while for the nine months ended September 30, 2025, net income was $5.3 million and EBITDA was $10.3 million, reflecting increases of 281% and 245% respectively compared to the same period in 2024 [11][9][28]. Fleet and Vessels - C3is Inc. owns four vessels, including three Handysize dry bulk carriers and one Aframax oil tanker, with a total fleet capacity of 213,464 deadweight tons [16]. - The company completed the dry-docking of its Aframax tanker, Afrapearl II, in August 2025, which took 24 days and cost $1.7 million [5][11]. Financial Position - As of September 30, 2025, the company had cash and cash equivalents of $6.6 million and met all capital expenditure commitments totaling $59.2 million without resorting to bank loans [5][11]. - The company recorded a non-cash adjustment of $6.7 million as "Gain on Warrants" for Q3 2025, reflecting changes in the fair value of warrants [5][11]. Market Context - The shipping market remains volatile due to geopolitical conditions, but major economies continue to grow, leading to rising trade volumes [11]. - The company aims to maintain a debt-free balance sheet while enhancing its operational capabilities and exploring new business opportunities [11].

Business Overview - The company has a charter backlog of $4.1 billion through 2038[7] - Cash and cash equivalents were $596 million as of September 30, 2025[8] - Net Debt / LTM 3Q 2025 Adjusted EBITDA was 0.23x as of September 30, 2025[7] - Available liquidity was $971 million as of September 30, 2025[8] Financial Performance (Q3 2025) - Operating revenues were $260.73 million, including $239.102 million from container vessels and $21.628 million from dry bulk vessels[9] - Adjusted EBITDA was $181.62 million[9] - Time Charter Equivalent for container vessels was $35,663/day and for dry bulk vessels was $19,910/day[9] Financial Performance (9 Months Ended September 30, 2025) - Operating revenues were $776.191 million, including $714.738 million from container vessels and $61.453 million from dry bulk vessels[11] - Adjusted EBITDA was $529.334 million[11] - Fleet utilization for container vessels was 97.9% and for dry bulk vessels was 97.4%[11] Fleet and Charter Coverage - The company has secured multi-year chartering agreements for 21 out of 23 newbuilding vessels[7] - Operating days contract coverage is 100% for 2025, 95% for 2026, and 71% for 2027[7] - The current order-book is about 33.4% of existing TEU capacity with deliveries through 2028[7]

Core Insights - Navios Maritime Partners reported strong financial results for Q3 and the first nine months of 2025, with EBITDA of $193.9 million and $519.8 million, respectively, and net income of $56.3 million and $168.0 million [2][21][30] - The company has modernized its fleet, reducing the average age to 9.7 years, and increased contracted revenue to $3.7 billion, while decreasing net loan-to-value (LTV) to 34.5% [2][4][11] Financial Performance - Revenue for Q3 2025 was $346.9 million, a slight increase from $340.8 million in Q3 2024, while revenue for the first nine months of 2025 decreased to $978.6 million from $1,001.5 million in the same period of 2024 [22][29] - Earnings per common unit were $1.90 for Q3 2025 and $5.62 for the nine-month period [2][47] - Net cash from operating activities was $103.1 million for Q3 2025 and $381.3 million for the nine-month period [4][49] Debt and Financing - In October 2025, Navios Partners successfully placed $300 million of senior unsecured bonds, with proceeds intended for repaying secured debt and general corporate purposes [3] - The bonds will mature in November 2030 and carry a fixed coupon of 7.75% per annum [3] Fleet and Operations - As of November 12, 2025, Navios Partners repurchased 929,415 common units in 2025 for approximately $37.7 million [4][5] - The company has entered into new long-term charters expected to generate $745 million in revenue, contributing to a total contracted revenue of $3.7 billion through 2037 [11][12] - The fleet consists of 65 dry bulk vessels, 51 containerships, and 55 tankers, with a focus on modernizing and expanding the fleet [19][20] Market Position and Strategy - The company has maintained a strong risk management culture and diversified platform, which is expected to perform well in challenging market conditions [2] - The average expected daily charter-out rate for the fleet is projected at $24,871 for Q4 2025 and $27,088 for all of 2026 [20]