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Jun 30, 2025
Okeanis Eco Tankers Corp Q2 2025 Earnings Report
Okeanis Eco Tankers Corp reported lower revenues and earnings in Q2 2025 due to weaker TCE rates compared to the prior year.
Key Takeaways
In Q2 2025, Okeanis Eco Tankers Corp posted revenues of $93.95M and net income of $26.89M, reflecting a decline from Q2 2024 primarily due to lower fleetwide TCE rates. Operating income fell to $36.93M, while cash and cash equivalents stood at $65.3M. Adjusted EBITDA came in at $47.28M.
Revenue dropped 16% YoY to $93.95M due to lower TCE rates.
Net income fell to $26.89M, down from $39.57M in Q2 2024.
Fleetwide daily TCE rate decreased to $50,500 from $64,900 a year earlier.
Cash and cash equivalents, including restricted cash, totaled $65.3M at quarter-end.
Forward Guidance
OET indicated Q3 2025 bookings are partially fixed at lower average TCE rates compared to Q2, suggesting continued margin pressure.
Positive Outlook
- Strong liquidity position with $65.3M in cash including restricted cash.
- Continued disciplined capital management and dividend payout.
- Refinancing and vessel repurchases completed at favorable terms.
- No material capital expenditure commitments as of June 30, 2025.
- Maintained compliance with all financial covenants.
Challenges Ahead
- Lower booked TCE rates for Q3 indicate potential revenue decline.
- Ongoing volatility in tanker markets.
- Weaker demand impacting spot market rates.
- Competitive pressures in securing charters.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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