Okeanis Eco Tank (ECO) Stock News

Okeanis Eco Tankers Corp. (NYSE:ECO/OSE:OET) has secured a new $65.0 million secured term loan facility to finance the buyback of the Nissos Kea vessel from its current sale and leaseback financier. The loan, arranged by E.SUN Commercial Bank, features a Term SOFR plus 135 basis points interest rate, seven-year maturity, and quarterly installments of $0.9 million with a $39.8 million balloon payment. This follows recent financing arrangements for Nissos Nikouria and Nissos Anafi, completing new loans for their three youngest VLCC vessels with maturities extending to 2032. The company has improved its capital structure by reducing debt service breakeven costs and expanding its financier relationships, with potential for further enhancement when refinancing opportunities arise for Nissos Rhenia and Nissos Despotiko in 2026.

Okeanis Eco Tankers Corp. (NYSE: ECO / OSE: OET) has announced that its shares will trade ex-dividend starting June 2, 2025, on the Oslo Stock Exchange and June 3, 2025, on the New York Stock Exchange. The dividend amount is set at USD 0.32 per common share, following the Q1 2025 dividend announcement made on May 14, 2025. This dividend declaration demonstrates the company's commitment to returning value to shareholders.

Okeanis Eco Tankers Corp. (NYSE:ECO / OSE:OET) held its 2025 Annual Meeting of Shareholders on May 30, 2025, where shareholders approved all agenda items. The meeting resulted in the election of eight directors to the board, including Ioannis Alafouzos as Chair, and the ratification of Deloitte Certified Public Accountants S.A. as independent auditors for FY2025. The Board approved committee expansions effective June 1, 2025, with Frank Dunne joining all standing committees. The updated committee structure includes the Audit Committee chaired by Charlotte Stratos, the Remuneration Committee also chaired by Stratos, and the Nominating/Corporate Governance Committee chaired by Petros Siakotos. All committee members meet independence requirements for both NYSE and Oslo Stock Exchange listings.

Okeanis Eco Tankers Corp. (NYSE: ECO / OSE: OET) has declared a quarterly dividend of $0.32 per common share. Due to different settlement periods between the New York Stock Exchange (T+1) and Oslo Stock Exchange (T+2), there are varying ex-dividend dates. For OSE, the last trading day including dividend rights is May 30, 2025, with an ex-date of June 2, 2025. For NYSE, the last day including dividend rights is June 2, 2025, with an ex-date of June 3, 2025.

The record date for both exchanges is June 3, 2025. While the general payment date is set for June 12, 2025, shareholders with shares registered in Euronext VPS will receive their dividend in NOK around June 17, 2025, due to the implementation of Central Securities Depository Regulation (CSDR) in Norway.

["Declared dividend of $0.32 per share indicates strong financial health and commitment to shareholder returns","Dual-listed status on NYSE and OSE provides increased liquidity and broader investor access"]

Okeanis Eco Tankers Corp. (NYSE: ECO) reported its Q1 2025 financial results, showing a revenue of $80.1 million, down from $111.1 million in Q1 2024. The company's profit decreased to $12.6 million ($0.39 per share) from $41.6 million ($1.29 per share) year-over-year. The company maintained stable vessel operating expenses at $10.5 million. The fleetwide daily TCE rate was $38,500 per operating day, with VLCC and Suezmax TCE rates at $38,000 and $39,200 respectively. For Q2 2025, current bookings show improved rates with VLCC spot days at $46,700 per day (72% booked) and Suezmax spot days at $50,600 per day (64% booked). The board declared a quarterly dividend of $0.32 per share, payable on June 12, 2025, to shareholders of record as of June 3, 2025.

Okeanis Eco Tankers Corp. (NYSE:ECO / OSE:OET) has scheduled its Q1 2025 earnings release and conference call. The company will release its unaudited Q1 2025 results after NYSE market close on Wednesday, May 14, 2025. A webcast and teleconference will follow on Thursday, May 15, 2025, at 14:30 CET.

Participants can join via webcast or dial in using international access numbers. Presentation materials will be available for download from the company's Investor Relations website before the event. For investor relations inquiries, stakeholders can contact CFO Iraklis Sbarounis or Capital Link's Nicolas Bornozis.

Okeanis Eco Tankers Corp. (NYSE:ECO) has announced significant financing updates for three VLCC vessels. The company has declared options to purchase back the Nissos Kea, Nissos Nikouria, and Nissos Anafi from its current sale and leaseback financier. A new $130.0 million senior secured credit facility has been secured with a Greek bank for the Nissos Nikouria and Nissos Anafi, featuring Term SOFR plus 140 basis points interest rate and 7-year maturity. The facility includes quarterly installments of $1.9 million per vessel with balloon payments of $76.8 million. For the Nissos Kea, financing details are expected in Q2 2025, with anticipated similar terms. This strategic refinancing aims to improve capital structure and enhance resilience against industry risks while securing competitive financing terms extending to 2032.

Okeanis Eco Tankers Corp. (NYSE:ECO) has filed two registration statements on Form F-3 with the SEC on May 7, 2025. The first is a shelf registration statement allowing the company to raise up to $500 million in capital for potential acquisitions, strategic initiatives, debt reduction, or general corporate purposes. The second is a "resale" registration statement for up to 18,102,286 common shares held by company affiliates to become freely tradable in the United States.

The company currently has no immediate plans to utilize the shelf registration statement, and has not received any indication from affiliates regarding their intentions to sell their registered shares.

Okeanis Eco Tankers Corp. (NYSE:ECO / OSE:OET) has scheduled its Annual Meeting of Shareholders for May 30, 2025, at 11:00 a.m. Greek time. The record date for shareholder participation is April 22, 2025.

The meeting agenda includes electing eight directors and ratifying Deloitte Certified Public Accountants S.A. as the company's independent auditor for FY2025. The board has been expanded from seven to eight members, with Dimitrios Papalexopoulos nominated to fill the new position.

Papalexopoulos brings extensive experience in management, business development, and marketing across media, publishing, technology, and consumer goods sectors. He currently serves as Managing Director of Kathimerines Ekdoseis since 2022, following senior roles at Google (2011-2018) and Procter & Gamble (2007-2010).