C3is management says six-month net income to June 30, 2026 rises to USD 13.18 million on higher average TCE rate
CISS•C3is reported six-month revenue of USD 35.62 million and net income of USD 13.18 million, up from USD 19.41 million and USD 2.59 million a year earlier. Average TCE rate rose to USD 36,769 from USD 16,335.
1. Six-month results
Management attributed the higher performance mainly to the rise in average TCE rate. Net income increased despite a USD 2.03 million warrant loss, compared with a gain in the prior period, while operating cash flow rose to USD 12.83 million from USD 2.95 million, driven by higher profitability and offset by working-capital movements. Liquidity was shaped by USD 39.78 million in vessel purchase payments due in January 2027, including payments for Clean Fury and Clean Reaper.
