The following is a summary of the Okeanis Eco Tankers Corp. (ECO) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Okeanis Eco Tankers reported an adjusted EBITDA of $37.9 million, an adjusted net profit of $14.5 million, and adjusted EPS of $0.45 for Q3 2024.

• The company has a strong capital distribution track record with the 10th consecutive capital distribution of $0.45 per share, fully matching the EPS.

• For the nine-month period, PC revenue stood at over $212 million, EBITDA was approximately $167 million, and net income was over $95 million, equivalent to $2.97 per share.

Business Progress:

• The company has successfully completed five-year dry docks for three vessels with more planned, underscoring operational efficiency and compliance with maritime regulations.

• They have a young and eco-friendly fleet, setting a competitive advantage in operational performance.

• Recent refinancing activities have secured a robust balance sheet and extended maturities, enhancing financial stability.

Opportunities:

• The company handles an aging fleet across the industry and limited new building capacity which may reduce competition and enhance demand for Okeanis's modern and efficient fleet.

Risks:

• Market volatility continues, influenced by factors like fluctuating demand, refining margins, and geopolitical events, which can impact freight rates and operational costs.

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