Icon Energy (NASDAQ: ICON) fixes M/V Alfa charter at $18,000 per day through 2026
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
Icon Energy Corp. reports a commercial update on its dry bulk fleet. The company exercised an option on the Panamax vessel M/V Alfa, switching from an index-linked time charter to a fixed daily hire rate of $18,000 for the seven-month period from June to December 2026.
This fixed charter is expected to contribute approximately $3.7 million to Icon’s estimated minimum contracted revenue, improving earnings visibility and contractual coverage through year-end. The M/V Bravo and M/V Charlie remain on index-linked time charters, leaving Icon with a blend of fixed and floating rate exposure across its three-vessel fleet.
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Key Figures
Fixed daily hire rate for M/V Alfa: $18,000 per day
Estimated minimum contracted revenue from M/V Alfa: Approximately $3.7 million
Fixed charter period for M/V Alfa: Seven months
+3 more
6 metrics
Fixed daily hire rate for M/V Alfa
$18,000 per day
Seven-month fixed period June–December 2026
Estimated minimum contracted revenue from M/V Alfa
Approximately $3.7 million
From fixed charter June–December 2026
Fixed charter period for M/V Alfa
Seven months
From June to December 2026
Earliest charter expiration for M/V Alfa
December 2026
Fleet table charter expiration entry
M/V Charlie charter window
August 2027–December 2027
Earliest and latest charter expiration dates
Fleet size
Three dry bulk vessels
Alfa (Panamax), Bravo (Kamsarmax), Charlie (Ultramax)
Key Terms
time charter, index-linked TC, Minimum Contracted Revenue, Baltic Panamax Index, +1 more
5 terms
time charter financial
"Icon generates revenue by chartering its vessels ... primarily on time charters (“TC”) (either index-linked or fixed rate) or voyage charters"
A time charter is an agreement where a ship owner rents out their vessel to a customer for a set period, during which the customer has control over the ship’s use and operation. This arrangement matters to investors because it provides a steady income stream for the ship owner and indicates ongoing demand for shipping services, reflecting the health of global trade and transportation markets.
index-linked TC financial
"Bravo | | Kamsarmax | | Index-linked TC | | Evergreen (2)"
Minimum Contracted Revenue financial
"Key Performance Indicators used in this Press Release Minimum Contracted Revenue. The amount of minimum contracted revenue is estimated by reference to the contracted period and hire rate"
Baltic Panamax Index financial
"the vessel is earning hire at a floating daily rate linked to the Baltic Panamax Index"
A Baltic Panamax Index is a regularly published number that tracks average daily charter rates for Panamax-size dry bulk ships — the mid-sized cargo vessels that carry coal, grain and other raw materials. It acts like a price tag for renting these sea “trucks,” and moves with supply and demand for global commodity shipments; investors use it as a real-time gauge of shipping costs, commodity trade activity and broader economic momentum.
forward-looking statements regulatory
"This communication contains “forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.”"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of June 2026
Commission File Number: 001-42174
Icon Energy Corp.
(Translation of registrant’s name into English)
c/o Pavimar Shipping Co.
17th km National Road
Athens-Lamia & Foinikos Str.
14564, Nea Kifissia
Athens, Greece
+30 211 88 81 300
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F:
Form 20-F ☒ Form 40-F ☐
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
On June 3, 2026, Icon Energy Corp. (the “Company”) issued a press release entitled “Icon Energy Corp. Provides Commercial Update.” A copy of this press release is furnished as Exhibit 99.1 herewith.
Notwithstanding the foregoing, the information in the press release regarding the Company’s commercial update is incorporated by reference into the Company’s registration statement on
Form F-3 (File No. 333-291988), and shall be a part thereof, to the extent not superseded by documents or reports subsequently filed or furnished.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
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ICON ENERGY CORP.
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Date: June 3, 2026
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By:
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/s/ Dennis Psachos
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Name:
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Dennis Psachos
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Title:
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Chief Financial Officer
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Exhibit 99.1
Icon Energy Corp. Provides Commercial Update
Athens, Greece, June 3, 2026 (GLOBE NEWSWIRE) - Icon Energy Corp. (“Icon” or the “Company”)
(Nasdaq: ICON), an international shipping company providing worldwide seaborne transportation services for dry bulk cargoes via its fleet of oceangoing vessels, provides a commercial update.
Vessel Employment
The M/V Alfa is time chartered to an international commodity trading conglomerate for an indefinite period, expiring upon three months’ notice by either party
but not earlier than July 2026. Under this charter, the vessel is earning hire at a floating daily rate linked to the Baltic Panamax Index, while preserving the option to convert to a fixed hire rate, at a time and for a period of Icon’s choosing,
thereby locking in forward earnings.
Icon exercised such option and converted to a fixed hire rate for the seven-month period from June to December 2026, strengthening earnings visibility and minimum contractual coverage through year-end.
The hire rate for that period has been agreed at $18,000 per day, contributing approximately $3.7 million to Icon’s estimated minimum contracted revenue.
The M/V Bravo and the M/V Charlie continue earning hire at floating daily rates, resulting in a charter portfolio that
blends fixed and floating rate exposure to provide cash flow stability and upside potential.
Fleet
Icon generates revenue by chartering its vessels to regional and international dry bulk operators, commodity traders and end users, primarily on time charters (“TC”) (either index-linked or fixed rate)
or voyage charters, depending on market conditions, opportunities available to us, and other strategic and tactical considerations. As of the date hereof, Icon’s fleet comprised of the following dry bulk vessels:
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Charter expiration
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Vessel name
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Vessel type
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Charter type
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Earliest
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Latest
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Alfa
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Panamax
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Fixed rate TC(1)
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December 2026
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Evergreen(2)
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Bravo
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Kamsarmax
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Index-linked TC
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Evergreen(2)
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Evergreen(2)
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Charlie
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Ultramax
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Index-linked TC(3)
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August 2027
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December 2027
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Key Performance Indicators used in this Press Release
Minimum Contracted Revenue. The amount of minimum contracted revenue is estimated by reference to the contracted period and hire rate, net of
charterers’ commissions but before brokerage and commercial management commissions, and assuming no unforeseen off-hire days. For index-linked contracts, minimum contracted revenue is estimated by reference to the average of the relevant index during
the 15 days preceding the calculation date.
(1) Converted to a fixed daily hire rate of $18,000 for the seven-month period from June to December 2026
(2) The charter continues indefinitely, subject to 3 months’ termination notice by either party
(3) In addition to the daily hire rate, Icon is also entitled to receive part of the fuel cost savings to be realized by the charterer through the use of the vessel’s scrubber
About Icon Energy Corp.
Icon is an international shipping company that provides worldwide seaborne transportation services for dry bulk cargoes via its fleet of oceangoing vessels. Icon maintains its principal executive office
in Athens, Greece, and its common shares trade on the Nasdaq Capital Market under the symbol “ICON.”
Cautionary Note Regarding Forward Looking Statements
This communication contains “forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.” Forward-looking statements include, but are
not limited to, statements regarding our or our management’s expectations, hopes, beliefs, intentions, or strategies regarding the future and potential results and upsides, and are therefore statements that are predictive in nature, that depend upon
or refer to future events or conditions, or that include words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar
expressions that are other than statements of historical fact, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based upon various assumptions, many of which are based, in
turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although the Company believes that these assumptions
were reasonable when made, because these assumptions are inherently subject to significant risks, uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, the Company cannot provide assurance that it
will achieve or accomplish these expectations, beliefs or projections. The Company’s actual results could differ materially from those anticipated in forward-looking statements for many reasons, including as described in the Company’s filings with
the U.S. Securities and Exchange Commission (the “SEC”). As a result, you are cautioned not to unduly rely on any forward-looking statements, which speak only as of the date of this communication. Factors that could cause actual results to differ
materially from those discussed in the forward-looking statements include, among other things: the Company’s future operating or financial results; the Company’s liquidity, including its ability to service any indebtedness; changes in shipping
industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital
spending or operating expenses; risks associated with operations; broader market impacts arising from war (or threatened war) or international hostilities; risks associated with pandemics; and other factors listed from time to time in the Company’s
filings with the SEC. For more discussion of the risks that could impact forward-looking statements, you are encouraged to review the discussion under the title “Risk Factors” in the Company’s most recent
Annual Report on Form 20-F. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in
the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Contact Information
Icon Energy Corp.
Dennis Psachos
Chief Financial Officer
+30 211 88 81 300
ir@icon-nrg.com
www.icon-nrg.com
FAQ
What commercial update did Icon Energy Corp. (ICON) announce?
Icon Energy Corp. announced a commercial update focused on charter arrangements for its dry bulk fleet. The key change is converting the M/V Alfa’s time charter from an index-linked rate to a fixed daily rate, improving revenue visibility and minimum contracted revenue through the end of 2026.
How does the new charter for M/V Alfa affect Icon Energy (ICON) revenue?
The M/V Alfa’s charter now carries a fixed hire rate of $18,000 per day from June to December 2026. This change is expected to contribute approximately $3.7 million to Icon Energy’s estimated minimum contracted revenue, providing more predictable cash flows over that seven-month period.
What is Icon Energy Corp.’s (ICON) current fleet and charter mix?
Icon Energy operates three dry bulk vessels: the Panamax M/V Alfa, Kamsarmax M/V Bravo, and Ultramax M/V Charlie. Alfa is on a fixed-rate time charter, while Bravo and Charlie remain on index-linked time charters, creating a mix of fixed and floating rate charter exposure.
When does the M/V Alfa charter for Icon Energy (ICON) expire?
The M/V Alfa is on a time charter that continues indefinitely, subject to three months’ termination notice by either party. Under current terms, the fixed-rate period runs from June to December 2026, with the earliest charter expiration noted as December 2026 in the fleet table.
How are index-linked charters used by Icon Energy Corp. (ICON)?
Icon Energy uses index-linked time charters that reference freight market indices, such as the Baltic Panamax Index. For index-linked contracts, minimum contracted revenue is estimated using the average of the relevant index during the 15 days before the calculation date, subject to charter-specific terms.
What is meant by minimum contracted revenue in Icon Energy (ICON) disclosures?
Minimum contracted revenue is estimated using the contracted charter period and hire rate, net of charterers’ commissions and assuming no unforeseen off-hire days. For index-linked contracts, Icon Energy bases this estimate on the 15-day average of the relevant freight index prior to calculation.