Okeanis Eco Tankers

Each Okeanis ship earned about 181,200 dollars a day in the second quarter of 2026, compared with roughly 50,000 dollars a year earlier. Daily running costs were only about 9,900 dollars, so almost all of that jump landed in profit, and the company made 230.3 million dollars of net income on 318.9 million dollars of revenue in one quarter. Rates have kept climbing since: a common Middle East to China giant tanker route was quoted near 1.2 million dollars a day in early October, up from about 700,000 in early September, and Suezmax routes are around 408,000 dollars a day.

The fleet averages about five and a half years old, far younger than the 13 year global average, and every ship is eco designed and fitted with scrubbers. That attracts customers and keeps repair bills low. Okeanis paid a dividend of 5.25 dollars per share for the second quarter, about 90 percent of its profit, and has now paid 17 dividends in a row. Debt is about 35 percent of ship book value, down from 46 percent at year end, with 247.8 million dollars in cash.

About 94 percent of the fleet's days are sold at the daily spot price, so profit rises and falls with the market. Second quarter earnings were 5.91 dollars per share, and a calmer oil market could cut that sharply. The dividend moves with profit, so 5.25 dollars should not be expected every quarter. The share price has also roughly doubled since June, so much good news is already in the price.

Today's high rates come partly from conflict near the Strait of Hormuz, which forces oil onto longer routes and soaks up ship capacity. A lasting deal could pull rates down fast, and Iranian oil returning on its own ships would add supply on the routes where Okeanis earns its premium. The global order book equals about 32 percent of today's giant tanker fleet and 30 percent of Suezmaxes, with most deliveries due in 2028 and 2029. The war is also a physical risk: one Okeanis ship was hit in an attack at a Turkish oil terminal and needed temporary repairs.