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Reading: Okeanis Eco Tankers Corp. Reports Record Fourth Quarter Results
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OOLP Maritime World News > Shipping news > Okeanis Eco Tankers Corp. Reports Record Fourth Quarter Results
Shipping news

Okeanis Eco Tankers Corp. Reports Record Fourth Quarter Results

Last updated: 2023/02/28 at 8:08 AM
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Okeanis Eco Tankers Corp. reported unaudited interim condensed results for the fourth quarter and twelve month period ended December 31, 2022.

Q4 2022 Highlights:

• Time charter equivalent (“TCE”, a non-IFRS measure) revenue and Adjusted EBITDA (a non-IFRS measure) of $82.2 million and $69.8 million, respectively. Adjusted profit and Adjusted earnings per share (non-IFRS measures) for the period of $48.6 million or $1.51 per basic & diluted share.
• Fleetwide daily TCE rate of $63,800 per operating day; VLCC and Suezmax TCE rates of $65,400 and $61,600 per operating day, respectively.
• Daily vessel operating expenses (“opex”, a non-IFRS measure) of $8,369 per calendar day, including management fees.
• In Q1 2023 to date, 78% of the available VLCC spot days have been booked at an average TCE rate of $91,700 per day and 84% of the available Suezmax spot days have been booked at an average TCE rate of $118,600 per day.
• The Company paid an amount of approximately $10.0 million or $0.30 per share in December 2022 as a return of paid-in capital.

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The Board of Directors declared a return of capital of $1.25 per share to shareholders. The cash payment will be recorded as a return of paid-in-capital and will be paid on Friday March 17, 2023 to shareholders of record as of Friday March 10, 2023. The shares will be traded ex-capital distribution as from and including Thursday March 9, 2023.
Source: Okeanis Eco Tankers Corp.



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