Okeanis Eco Tankers Posts Record $93K Daily TCE, Raises $130M Equity
Okeanis Eco Tankers delivered record fleet-wide time charter equivalent earnings of about $93,000 per vessel per day in Q1 2026, achieving perfect utilization and significant exposure to high market rates. The company declared a 16th consecutive quarterly dividend of $2 per share and raised $130 million in gross equity proceeds.
1. Record Q1 Earnings
Okeanis Eco Tankers achieved record fleet-wide time charter equivalent earnings of approximately $93,000 per vessel per day in the first quarter of 2026, with perfect fleet utilization and exposure to elevated market rates across all vessel sizes.
2. Shareholder Returns and Capital Raise
The company declared its 16th consecutive quarterly dividend of $2 per share, representing 88% of reported net income, and completed equity transactions that raised $130 million in gross proceeds to support growth and dividend distributions.
3. Risk Factors and Debt Profile
Operational challenges from the Hormuz Strait closure and a mispriced one-year charter at $90,000 per day weighed on efficiency, while the balance sheet carries $683 million of debt, exposing the company to geopolitical and market volatility risks.