Athens, Greece - August 11, 2023 Okeanis Eco Tankers Corp. (“OET” or the “Company” or “Group”) today reported unaudited interim condensed financial statements for the second quarter and first half year of 2023. Q2 2023 and Recent Highlights: • Time charter equivalent (“TCE”, a non-IFRS measure) revenue and Adjusted EBITDA (a non-IFRS measure) of $91.2 million and $77.4 million, respectively. Adjusted profit and Adjusted earnings per share (non-IFRS measures) for the period of $53.0 million or $1.65 per basic & diluted share. • Fleetwide daily TCE rate of $72,000 per operating day; VLCC and Suezmax TCE rates of $71,600 and $72,600 per operating day, respectively. • Daily vessel operating expenses (“opex”, a non-IFRS measure) of $8,929 per calendar day, including management fees. • In Q3 2023 to date, 76% of the available VLCC spot days have been booked at an average TCE rate of $65,800 per day and 64% of the available Suezmax spot days have been booked at an average TCE rate of $55,600 per day. • The Company paid an amount of approximately $51.5 million or $1.60 per share in June 2023 as a return of paid-in capital. • On June 27, 2023, the Company entered into a $113 million senior secured credit facility provided by ABN AMRO Bank N.V. The proceeds were used to refinance existing indebtedness under the VLCC vessel Nissos Keros and the Suezmax vessels Kimolos and Folegandros. The Facility is repaid quarterly, matures in 5 years and is priced at 190 basis points above the Secured Overnight Financing Rate. • Also, on June 27, 2023, the Company prepaid its scrubber financing amounting to $1.4 million. • On July 18, the Company declared its option to purchase back the Suezmax vessel Milos, from its sale and lease back financier in February 2024. The company intends to finance the transaction through proceeds from a new debt facility for the vessel, to be explored in due course. The Board of Directors declared a return of capital of $1.50 per share to shareholders. The cash payment will be recorded as a return of paid-in-capital and will be paid on Friday September 8, 2023 to shareholders of record as of Friday September 1, 2023. The shares will be traded ex-capital distribution as from and including Thursday August 31, 2023. Full report About OET Okeanis Eco Tankers Corp. is a leading international tanker company providing seaborne transportation of crude oil. The Company was incorporated on April 30, 2018 under the laws of the Republic of the Marshall Islands and is listed on Oslo Børs under the symbol OET. The sailing fleet consists of six modern scrubber-fitted Suezmax tankers and eight modern scrubber-fitted VLCC tankers. Okeanis Eco Tankers Corp. press release ![]() |