Okeanis Eco Tankers Corp. Completes $115 million Share Offering to Finance New Suezmax Tankers

Okeanis Eco Tankers Corp. (NYSE: ECO, OSE: OET) announced the successful pricing of a new common‑stock offering on 19 November 2025. The company issued 3,239,436 new shares at a price of $35.50 per share, raising approximately $115 million in gross proceeds. The offering was executed through the firm’s principal underwriters and was marketed to institutional and retail investors on the New York Stock Exchange and the Athens Stock Exchange.

Market Reaction

  • The offering price triggered a 7.24 % decline in the shares on the day of pricing, with the stock closing at $36.75 on 19 November 2025.
  • Following the announcement of the completed financing on 22 November 2025, the share price recovered and closed at $37.52 on 20 November 2025, reflecting investor confidence in the company’s expansion plans.
  • As of the latest trading session, the market capitalization of Okeanis Eco Tankers is approximately $1.18 billion.

Allocation of Funds

  • The proceeds will be used to finance the acquisition of two new Suezmax product tankers, expanding the company’s fleet and capacity in the oil, gas and consumable fuels sector.
  • The firm has indicated that the new vessels will enhance its ability to transport larger volumes of crude and refined products, supporting long‑term growth in the global shipping market.

Company Context

  • Okeanis Eco Tankers is a Greek energy company listed on the New York Stock Exchange, with operations focused on shipping and logistics for the oil and gas industry.
  • The company’s 2025 trading performance showed a 52‑week high of $39.77 and a low of $17.91, positioning the current share price within the upper third of its historical range.
  • The price‑earnings ratio of 18.247 suggests that the market values the company’s earnings at roughly 18 times its current earnings per share.

Outlook

The capital raise aligns with Okeanis Eco Tankers’ strategy to strengthen its fleet and capitalize on the continued demand for product tanker transport. The firm’s ability to raise funds through equity issuance demonstrates a solid investor base and provides the financial flexibility needed to pursue new vessel acquisitions and maintain its competitive position in the energy shipping market.