Okeanis Eco Tankers Corp Dossier
Qualitative Analysis
Business overview
Okeanis Eco Tankers Corp. (OET) is a leading international tanker company providing seaborne transportation of crude oil and refined products. Incorporated on April 30, 2018, under the laws of the Republic of the Marshall Islands, the company is dual-listed on the Oslo Stock Exchange (OSE: OET) and the New York Stock Exchange (NYSE: ECO). OET operates a highly modern, young, and efficient fleet consisting of eight Suezmax tankers and eight Very Large Crude Carriers (VLCCs), all of which are equipped with exhaust gas cleaning systems (scrubbers). The company's commercial strategy focuses on maximizing spot market exposure to capitalize on favorable rate environments and geopolitical dislocations.
Research as of 20 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Acquisition and integration of four modern, eco-design, scrubber-fitted Suezmax newbuildings from Daehan Shipbuilding to expand Suezmax capacity by approximately one-third.
Expected impact: Significantly increases the company's earning capacity and spot market leverage during a highly favorable tanker rate cycle.
Securing $190 million in new traditional bank loan facilities to fund newbuilds and repurchase legacy sale-and-leaseback vessels (Nissos Rhenia and Nissos Despotiko).
Expected impact: Regains full asset ownership, extends debt maturities to 2035, lowers debt service breakeven, and reduces average fleet debt margin pricing by over 200 basis points.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Recent Acquisitions
Acquisition of two 157,000 DWT modern scrubber-fitted Suezmax tankers from European Maritime Finance / Atlas Maritime to expand fleet capacity at attractive prices.
Financial impact: Fully delivered in January 2026 and immediately deployed into the spot market, contributing to record Q1 2026 earnings.
Acquisition of two additional 157,000 DWT sister Suezmax newbuildings from Daehan Shipbuilding to further capitalize on robust tanker market fundamentals.
Financial impact: Funded via a $130 million equity offering and a $90 million bank facility; Nissos Tigani delivered in late May 2026, Nissos Vous expected in July 2026.