C3is Inc. Announces the Acquisition of Two Medium Range Product Tankers
Rhea-AI Summary
C3is (NASDAQ: CISS) agreed to acquire two MR product tankers (approx. 50,000 dwt each) for $16.88 million (2008-built) and $22.90 million (2011-built), with deliveries expected between Q1 and Q3 2026. The purchases raise the fleet by 50% to six vessels, creating a mix of three Handysize dry bulk carriers and three tankers including an Aframax. The deals were approved by independent directors using averaged independent valuations and are funded by a one-year interest-free loan that allows payment any time within a year.
Company estimates: ~$25,000/day revenue per MR vessel, ~$8,300/day operating expenses, and ~$6M annual EBITDA per MR vessel.
Positive
- Fleet increases by 50% to six vessels
- Purchase prices: $16.88M and $22.90M
- Acquisitions funded via one-year interest-free loan
- Estimated annual EBITDA ~$6M per MR vessel
Negative
- Vessels built in 2008 and 2011, implying aging capex risk
- Deliveries occur between Q1–Q3 2026, creating timing uncertainty
- One-year loan creates near-term repayment timing pressure
News Market Reaction
On the day this news was published, CISS declined 35.51%, reflecting a significant negative market reaction. Argus tracked a trough of -37.4% from its starting point during tracking. Our momentum scanner triggered 24 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $343K from the company's valuation, bringing the market cap to $623,433 at that time. Trading volume was exceptionally heavy at 8.3x the daily average, suggesting significant selling pressure.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
CISS gained 8.37% while several marine peers also rose (e.g., ICON +7.08%, OP +7.81%, GLBS +4.35%), but USEA declined 1.1%. Mixed peer moves and the lack of sector momentum flags point to a stock-specific reaction to this fleet-acquisition news.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 12 | Equity offering close | Negative | -24.2% | Closing of $9M public offering with unit and warrant structure. |
| Dec 11 | Equity offering pricing | Negative | -80.7% | Pricing of $9M public offering with low-priced warrants. |
| Nov 18 | Earnings results | Positive | +0.0% | Reported Q3 2025 voyage revenues and solid net income. |
| Nov 13 | Earnings date announcement | Neutral | -9.2% | Scheduled release and call for Q3 and nine-month 2025 results. |
| Oct 09 | Registered direct offering | Negative | -5.0% | Closed $2M registered direct stock offering for corporate purposes. |
Recent capital-raising offerings have repeatedly coincided with sharp share-price declines, while fundamentally positive updates (like earnings) have not produced sustained upside.
Over the last few months, C3is combined heavy capital raising with fleet expansion. Multiple offerings in October and December 2025 (including a $9.0M unit deal and a $2.0M direct offering) were followed by steep share-price drops, underscoring dilution sensitivity. In contrast, Q3 2025 results on Nov 18, 2025 showed positive profitability metrics but the stock was flat. Today’s tanker acquisitions and related January 2026 filings continue the strategy of deploying recently raised capital into growing a diversified six-vessel fleet.
Market Pulse Summary
The stock dropped -35.5% in the session following this news. A negative reaction despite the accretive framing would fit a pattern where investors focus more on structural and financing risks than on growth. Past late-2025 offerings led to sizeable declines even as proceeds were earmarked for vessel acquisitions. While the new MR tankers could boost EBITDA, the stock still trades far below its $8.22 52-week high and faces reverse-split mechanics, which may keep sentiment fragile and amplify downside moves.
Key Terms
memoranda of agreement technical
ebitda financial
spot market financial
AI-generated analysis. Not financial advice.
ATHENS, Greece, Jan. 22, 2026 (GLOBE NEWSWIRE) -- C3is Inc. (NASDAQ: CISS) (the “Company”), a ship-owning company providing dry bulk and tanker seaborne transportation services, announced today the expansion of its fleet by entering into two Memoranda of Agreement for the acquisition of two MR product tankers with an approximate capacity of 50,000 dwt per vessel, both built in South Korea in 2008 and 2011, respectively (the “Transaction” or the “Acquisitions”).
The purchase price is
Following completion of these acquisitions, the Company’s fleet will increase by
The vessels will be acquired from an entity affiliated with Brave Maritime Corp Inc. The Acquisitions were approved by the independent directors of the Company, who obtained independent valuations for the vessels and based the respective purchase prices on the average of those valuations.
The Acquisitions are funded with a one-year interest free loan, pursuant to which the Company may elect to pay the entire purchase price of the vessels at any time during the year following the date of the applicable Memoranda of Agreement thereby providing significant financial flexibility.
Commenting on the Transaction, Dr. Diamantis Andriotis, the Company’s Chief Executive Officer, said:
“We continue to pursue opportunistic acquisitions that position our Company to capitalize on favorable market conditions. This acquisition represents an investment that materially increases the scale of our operations, while strengthening our commercial profile and earnings capacity.
“The newly acquired MR product tankers meaningfully increase our exposure to the tanker market, with very positive and sustainable fundamentals evidenced by high short- and medium-term charter rates. In the currently prevailing spot market, each vessel would be expected to generate revenues of approximately
“The robust cash flows expected to be generated by the newly acquired MR product tankers as well as our Aframax tanker with daily spot rates currently at around
About C3is Inc.
C3is Inc. is a ship-owning company providing dry bulk and crude oil seaborne transportation services. The Company currently owns four vessels, comprising three Handysize dry bulk carriers with a total capacity of 97,664 deadweight tons (dwt) and an Aframax oil tanker with a cargo carrying capacity of approximately 115,800 dwt, resulting in a fleet total capacity of 213,464 dwt. On a pro forma basis following the delivery of two MR product tankers, the Company’s fleet will consist of six vessels: three Handysize dry bulk carriers, one Aframax tanker, and two MR product tankers, with a total carrying capacity of approximately 310,667 dwt. C3is Inc.’s shares of Common Stock are listed on the Nasdaq Capital Market and trade under the symbol “CISS.”
Forward-Looking Statements
The foregoing material may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the completion and timing of the vessel acquisitions and the charter rates and revenues generated, and expenses incurred, in relation to our tankers, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans, including changes prevailing spot market charter rates, which are volatile and subject to significant and rapid change, for MR product tankers and Aframax tankers. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
Nina Pyndiah
Chief Financial Officer
C3is INC.
00-30-210-6250-001
E-mail: info@c3is.pro
FAQ
What vessels did C3is (CISS) acquire on January 22, 2026?
How does the acquisition affect C3is's fleet size and mix (CISS)?
When will C3is (CISS) take delivery of the two MR tankers?
How are the acquisitions for C3is (CISS) being financed?
What revenue and EBITDA does C3is (CISS) estimate per MR vessel?
Who is selling the vessels to C3is (CISS)?
