Okeanis Eco Tankers Corp. Reports Unaudited Interim Condensed Results for the Fourth Quarter and Twelve Month Period of 2020

Greece - February 12, 2021

Okeanis Eco Tankers Corp. (“OET” or the “Company”) today reports unaudited interim condensed results for the three and twelve months ended December 31, 2020.

Q4 2020 Highlights

• Time charter equivalent (“TCE”) revenue and Adjusted EBITDA of $40.7 million and $27.6 million, respectively. Adjusted profit for the period of $8.2 million or $0.25 per basic & diluted share.

• Fleetwide daily TCE rate of $28,500 per operating day; VLCC, Suezmax and Aframax/LR2 TCE rates of $39,900, $20,500 and $9,500 per operating day, respectively.

• Daily vessel operating expenses (“opex”) of $8,052 per calendar day, including management fees.

• In Q1 2021 to date, 100% of the available VLCC spot days have been booked at an average TCE rate of $18,000 per day, 90% of the available Suezmax spot days have been booked at an average TCE rate of $17,000 per day and 54% of the available Aframax/LR2 spot days have been booked at an average TCE rate of $14,600 per day.

• In November 2020, the Company entered into a floating-to-fixed interest rate swap with a total notional amount of $54.4 million for the Nissos Anafi at a fixed interest rate of 0.3854% for a term of three years.

• In December 2020, the Company paid a cash dividend to its shareholders of $0.10 per share, amounting to $3.2 million.

Subsequent Events

• The Board of Directors of OET declared a cash dividend of $0.10 per share, amounting to $3.2 million. The cash dividend will be paid on Wednesday March 3, 2021 to shareholders of record as of Thursday February 25, 2021. The shares will be traded ex-dividend as from and including Wednesday February 24, 2021.

• In January 2021, the Company transferred its listing from Euronext Expand to Oslo Bors.

Full unaudited interim results and presentation

About Okeanis Eco Tankers Corp.
Okeanis Eco Tankers Corp. is a pure play eco and scrubber-fitted tanker company that owns and operates a fleet of 17 modern, high-specification crude oil and products tankers in the VLCC, Suezmax and Aframax/LR2 segments.

Okeanis Eco Tankers Corp. press release