Greece's C3is Q4 revenue rises

Reuters
02/19
Greece's <a href="https://laohu8.com/S/CISS">C3is</a> Q4 revenue rises 

Overview

  • Greece-based shipowner's Q4 revenue rose yr/yr, driven by higher TCE rates

  • Net income for Q4 was $5.2 mln, with EPS of $5.82

  • Company acquiring two product tankers, delivery expected in 2026

Outlook

  • Company expects delivery of two product tankers in 2026, expanding fleet capacity by 387%

  • C3is sees strong market fundamentals with elevated freight rates and resilient oil demand

  • Company anticipates global seaborne trade growth driven by population and biofuel demand

Result Drivers

  • HIGHER TCE RATES - Q4 revenue increase driven by 24% rise in daily TCE compared to Q4 2024

  • SPOT MARKET PERFORMANCE - Aframax tanker achieved high voyage charter rates of around $60,000 per day in spot market

  • COST REDUCTIONS - Decrease in voyage and operating expenses due to lower bunker consumption and maintenance costs

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q4 Revenue

$10.60 mln

Q4 Net Income

$5.20 mln

Q4 Basic EPS

$5.20

Q4 EBITDA

$6.70 mln

Press Release: ID:nGNX2yTqsK

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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