Okeanis Eco Tankers Corp. · NYSE:ECO
Okeanis Eco Tankers — Q2 2025 Earnings Presentation
19 slides from Okeanis Eco Tankers's earnings presentation, Aug 13, 2025
Slide 1: Q2 2025 Earnings Presentation
Q2 2O25 EARNINGS PRESENTATION August 13, 2025
Slide 2: Disclaimer
Disclaimer This presentation (this “Presentation”) has been prepared by Okeanis This Presentation reflects the conditions and views of the Company operating expenses; changes to the Company’s financial condition Eco Tankers Corp. (“OET or the “Company”). This Presentation does as of the date set out
Slide 3: Executive and Financial Update
EXECUTIVE AND FINANCIAL UPDATE COMMERCIAL AND MARKET UPDATE APPENDIX I Q2 2O25 EARNINGS PRESENTATION AUGUST 13, 2025
Slide 4: Executive Summary
Executive Summary Okeanis Eco Tankers continues to deliver strong results Q2 2025 Q2 2024 6M 2025 6M 2024 Highlights for the quarter VLCC TCE1 $49,800 $73,300 $43,900 $71,000 $50,500pd fleetwide TCE COMMERCIAL Suezmax TCE 1 $51,400 $54,600 $45,400 $55,600 PERFORMANCE USD per day Fleetwide TCE1 $50,5
Slide 5: Income Statement Summary
Income Statement Summary Income statement summary ($m) Q2 2025 Q2 2024 6Μ 2025 6Μ 2024 Notes TCE Revenue $64.0 $79.4 $112.6 $160.5 Vessel operating expenses (11.5) (10.8) (22.0) (21.4) Q2 2025 reflected stable performance, Management fees (1.1) (1.1) (2.3) (2.3) underpinned by healthy Revenue, EBITD
Slide 6: Balance Sheet Summary
Balance Sheet Summary Balance Sheet Summary ($’000s) Q2 2025 Q4 2024 Notes Assets Cash & cash equivalents $59.7 $49.3 Total cash1 of $65m Restricted cash 5.6 5.0 Vessels, net 938.7 958.6 Total assets of $1.1bn Other assets 79.1 69.2 Total interest bearing debt of $631m Total Assets $1,083.1 $1,082.1
Slide 7: State of the Art Asset Base
State of the Art Asset Base Only listed pure ECO and scrubber fitted crude tanker platform OET Peer 3 Milos Suezmax, 2016, 100 Poliegos Suezmax, 2017, 80 Peer 2 Kimolos Suezmax, 2018, Scrubber penetration % 6x 60 Folegandros Suezmax, 2018, Peer 1 Suezmaxes 40 Nissos Sikinos Suezmax, 2020, 20 Peer 4
Slide 8: Resilient & Balanced Capital Structure
Resilient & Balanced Capital Structure Disciplined balance sheet management supporting long-term financial flexibility Robust and clean balance sheet Loan maturities 1,200 $m Vessels, net 150 $m Balloons 3 Cash Purchase options vessels Other assets 125 2 119 Debt Other liabilities vessels2 3 vessels
Slide 9: Commercial and Market Update
EXECUTIVE AND FINANCIAL UPDATE COMMERCIAL AND MARKET UPDATE APPENDIX I Q2 2O25 EARNINGS PRESENTATION AUGUST 13, 2025
Slide 10: Commercial Performance – Q2 2025
Commercial Performance – Q2 2025 Fleetwide TCE of $50,500 pd – $49,800 pd for spot VLCCs and $51,400 pd for spot Suezmaxes VLCC SUEZMAX FLEETWIDE Days % of Total TCE Days % of Total TCE Days % of Total TCE Timecharter – – – – – – – – – Spot 1 722 100% $49,800 546 100% $51,400 1,268 100% $50,500 Tota
Slide 11: Commercial Performance – Q3 2025 Guidance
Commercial Performance – Q3 2025 Guidance VLCC: 77% of available 3Q25 spot days fixed at $44,200 pd Suezmax: 60% of available 3Q25 spot days fixed at $34,200 pd VLCC SUEZMAX FLEETWIDE Days % of Total TCE Days % of Total TCE Days % of Total TCE Timecharter – – – – – – – – – Spot - fixed 1 567 77% $44
Slide 12: Superior Commercial Performance
Superior Commercial Performance Being the only listed pure ECO and fully scrubber fitted crude tanker platform, we consistently outperform the market VLCC spot TCE against peers Suezmax spot TCE against peers 100,000 $/day Peers Min-Max range 100,000 $/day Peers Min-Max range Peers Average Peers Ave
Slide 13: Tanker Supply: Constrained and Aging
Tanker Supply: Constrained and Aging Over 40% of the fleet is 15+ years old, with limited orderbook and ~20% of vessels associated to sanctioned trades — setting the stage for continued tight supply VLCC fleet age composition2 Suezmax fleet age composition2 Deliveries Deliveries 2025/26: 3.8% 2025/2
Slide 14: Trade Shifts and Fleet Dynamics Support Strong Tanker Outlook
Trade Shifts and Fleet Dynamics Support Strong Tanker Outlook Fleet supply tightness and evolving trade patterns point to a supportive backdrop for tanker earnings IEA oil supply vs. demand and implied balance Key Drivers of Demand, Production and Inventory Changes 110 mb/d Ιmplied balance balance,
Slide 15: Appendix
EXECUTIVE AND FINANCIAL UPDATE COMMERCIAL AND MARKET UPDATE APPENDIX I Q2 2O25 EARNINGS PRESENTATION AUGUST 13, 2025
Slide 16: Cash Flow Summary
Cash Flow Summary CF Statement Summary ($m) Q2 2025 Q2 2024 H1 2025 H1 2024 Cash Flow from Operating Activities Net income 26.9 39.6 39.4 81.1 Total reconciliation adjustments 20.1 24.5 39.8 47.5 Total changes in working capital (9.7) (13.0) (29.5) (3.3) Net cash provided by operating activities $37
Slide 17: Indicative Eco Benefit Calculation
Indicative Eco Benefit Calculation Assumptions VLCC Suezmax Sailing Days A 325 295 Fuel Consumption (tons/day@12.5 knots) Non-Eco B 61.5 43.0 Eco C 45.0 30.0 Incremental for Scrubber D 2.0 1.0 Daily Eco fuel savings E=(B – C) 16.5 13.0 Singapore Bunker Prices ($/ton) VLSFO F 500 500 HSFO (380cst) G
Slide 18: Current Fleet List
Current Fleet List Very attractive mix of crude tanker vessels built at first class yards with super eco design & scrubber fitted No. Vessel Name Asset Type Asset Size Built Age1 Yard Ownership Scrubber Eco Design 1 Milos Suezmax 157,539 2016 9 Sungdong 100% Yes Yes 2 Poliegos Suezmax 157,539 2017 8
Slide 19: Contact
CONTACT Iraklis Sbarounis, CFO +30 210 480 4200 ir@ okeanisecotankers.com