Okeanis Eco Tankers Secures $130 Million to Fund New Vessel Acquisitions

2026-01-21 companies

Athens, Wednesday, 21 January 2026.
Okeanis Eco Tankers raised $130 million at $36 per share to fund two new Suezmax vessels, signaling aggressive fleet expansion ahead of mid-2026 deliveries.

Capitalizing on Fleet Modernization

Okeanis Eco Tankers Corp. (NYSE: ECO, OSE: OET) has successfully priced a significant equity offering today, January 21, 2026, securing USD 130 million to fuel its ongoing fleet expansion [1]. The Athens-based energy shipping company issued 3,611,111 new common shares at a price of USD 36.00 per share [1][3]. This capital injection is specifically earmarked to partially finance the acquisition of two newbuilding Suezmax vessels from South Korea’s Daehan Shipbuilding Co., Ltd. [1]. These vessels, priced at USD 99.3 million each, are slated for delivery in the second quarter of 2026 [1][7].

Strategic Fleet Expansion

This transaction underscores a rapid expansion phase for the company. The incoming Suezmax tankers are sister vessels to two ships already delivered earlier this month, January 2026 [1][3]. With the total cost of the two new vessels amounting to 198.6 million USD, the company plans to secure additional debt financing to cover the remaining costs beyond the equity raised today [3]. As of December 30, 2025, the company’s fleet consisted of 16 eco-tanker vessels with a carrying capacity of approximately 3.5 million deadweight tons, a figure set to grow with these upcoming deliveries [7].

Market Conditions and Operational Outlook

The offering follows a busy period for the company’s capital markets activity; Okeanis completed a similar registered direct offering in November 2025, raising approximately USD 115 million [7]. The current pricing of USD 36.00 represents a discount to recent market valuations, as the stock closed at USD 39.56 on the NYSE on January 16, 2026 [7]. To facilitate the bookbuilding process, trading on the Euronext Oslo Børs was temporarily halted today, January 21, 2026, with share allocation notifications expected by 13:00 CET [1][4].

Sources

Capital Markets Maritime Shipping