Okeanis Eco Tankers Corp. completed a $115 million equity offering on November 19 2025, issuing 3,239,436 new shares at $35.50 each. The gross proceeds totaled $114,999,978, with settlement and delivery of the shares scheduled for November 21.
The company will deploy the entire proceeds to acquire two new‑building Suezmax tankers, each priced at $97 million. The vessels are expected to enter service in January 2026, adding capacity to a fleet that is already young and fully scrubber‑fitted, thereby reinforcing the company’s compliance with IMO 2020 and other environmental regulations.
By choosing equity rather than debt, Okeanis preserves liquidity and avoids additional interest expense. The company’s balance sheet has already seen a reduction in debt and leverage, and it maintains a consistent dividend policy, which supports long‑term financial flexibility and shareholder returns.
Management highlighted the current “real tanker bull market” and emphasized the strategic importance of fleet modernization and dividend growth. Investors reacted cautiously to the dilution inherent in the equity raise, reflecting concerns about short‑term earnings per share impact while recognizing the long‑term benefits of expanded capacity.
The acquisition positions Okeanis to capture higher charter rates associated with newer, environmentally compliant vessels, strengthening its competitive edge in a tightening market for compliant crude carriers. While the dilution may weigh on earnings in the near term, the expanded fleet is expected to drive growth in chartering capacity and support the company’s long‑term value creation strategy.
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