CISS News & Events

Reports Q4 revenue $10.6M vs. $9.4M last year. CEO Dr. Diamantis Andriotis commented: "During the year ended December 2025, our Company delivered strong financial results, reporting a Net Income of $10.5M - an increase of 481% from 2024, and an EBITDA of $17M - an increase of 244% from 2024, a result of our fleet expansion strategy and operational efficiency. We ended the year with $14.9M in cash, despite repaying the remaining $15.1M balance on the Eco Spitfire. In August 2025, we successfully completed the dry-docking of our Aframax tanker, the Afrapearl II. Our strong liquidity and fully unencumbered fleet further reinforce our balance sheet strength. While geopolitical developments and climate-related disruptions continue to create volatility, elevated freight rates, resilient oil demand and shifting trade patterns support a constructive market outlook. Global seaborne trade is expected to grow further, driven by population growth, geopolitics, sanctions and steady biofuel demand, pointing to another firm year in 2026. With the announced acquisition of two product tankers, scheduled for delivery between the first and third quarters of 2026, we are positioning the Company for its next phase of growth. These additions will expand our fleet capacity by 387% from inception, enabling us to fully capitalize on the strong market fundamentals ahead."

C3is Inc trading halted, news pending

Following the delivery of the two MR product tankers scheduled to be delivered between the first quarter and the third quarter of 2026, and assuming no further vessel acquisitions or dispositions, the Company's fleet will consist of six vessels: one Aframax oil tanker with a capacity of approximately 115,800 deadweight tons, two MR product tankers with capacities of approximately 50,000 dwt each and three Handysize dry bulk carriers with an aggregate capacity of 97,664 dwt. The Company's total fleet capacity is expected to be approximately 310,667 dwt. Subsequent to these latest acquisitions, C3is Inc. will have increased its fleet DWT capacity by 385% from inception, without resorting to any bank loans. The Company's tanker fleet, consisting of one Aframax tanker and two MR product tankers, is expected to operate in the spot market, which is currently exhibiting strong fundamentals. Based on currently prevailing market conditions, average daily charter revenues are estimated at approximately $55,000 for Aframax tankers and $25,000 for MR product tankers. We believe the cash flow contribution from the Company's tanker fleet will be substantial. The Company's Handysize dry bulk carriers are currently employed under short-term fixed time charter contracts, generating average daily charter rates of approximately $15,800, providing more stable revenues and contributing to cash flow generation.