Okeanis Eco Tankers Q1 Revenue Doubles to $170.2M, EPS Hits $2.31
Okeanis Eco Tankers reported Q1 2026 revenues of $170.2 million, up from $80.1 million a year earlier, and net profit of $88.3 million versus $12.6 million, generating EPS of $2.31. The board declared a $2.00 per share dividend payable June 5 with ex-dates May 27 (OSE) and May 28 (NYSE).
1. Q1 2026 Financial Results
Okeanis Eco Tankers delivered revenue of $170.2 million in the first quarter of 2026, up from $80.1 million in Q1 2025, and net profit of $88.3 million versus $12.6 million, yielding EPS of $2.31. Cash and restricted cash rose to $176.5 million as of March 31, 2026.
2. Operational Performance
The fleet generated TCE revenue of $132.2 million in Q1, with daily TCE rates averaging $106,400 for VLCCs and $81,600 for Suezmax vessels, while daily operating expenses averaged $9,593 per calendar day. In Q2 to date, 46% of VLCC and 60% of Suezmax spot days are booked at average rates of $223,900 and $187,300 per day, respectively.
3. Dividend Declaration
On May 13 the board approved a $2.00 per share dividend, with ex-dividend dates May 27 on the Oslo exchange and May 28 on the NYSE, record date May 28 and payment date June 5 in USD (Norwegian-registered shares paid in NOK). Settlement differences reflect T+2 on Oslo and T+1 on NYSE due to CSDR implementation.