C3is Inc. · NASDAQ:CISS

C3is — Q2 2023 Earnings Presentation

10 slides from C3is's earnings presentation, Sep 1, 2023

  1. Slide 1: Q2 2023 Financial & Operating Results

    C3is Inc. Q2 2023 Financial & Operating Results September 1, 2023

  2. Slide 2: Disclaimer

    Disclaimer C3is Inc. This presentation contains forward-looking statements within the meaning of applicable federal securities laws. Such statements are based upon current expectations that involve risks and uncertainties. Any statements contained herein that are not statements of historical fact ma

  3. Slide 3: Dry Bulk Shipping Rates

    DRY BULK SHIPPING RATES C3is Inc.  The Baltic Dry Index declined in Q2 2023, before moderately recovering at the end of the quarter signaling the start of the grain crop season and the increased coal demand for the Northern hemisphere.  Dry bulk carrier charter rates are a key determinant of how m

  4. Slide 4: Steel Production

    STEEL PRODUCTION C3is Inc.  1H 2023 global steel production declined year on year by -1.1%.  Chinese steel production up by 1.3%.  Seasonally low Chinese steel inventories bode well for a restocking- based recovery. 4

  5. Slide 5: Fleet Analysis

    FLEET ANALYSIS C3is Inc. ORDER BOOK FLEET AGE Source: Clarkson  Modest net fleet growth of 2.9% over the past year and expected fleet growth of c. 2% for the period 2024-2025.  Orderbook continues at historically low levels (7.7% of existing fleet).  Relatively old fleet as 8.2% is above 20 years

  6. Slide 6: Fleet Description

    FLEET DESCRIPTION C3is Inc. DD/SS Next Earliest Capacity Employment Vessel Name Vessel Type Year Built Yard Built Expiration of (dwt) Passed DD/SS Status Charter Hakodate Handysize Eco Bushfire 2011 32,000 Shipyard, Q2 2021 Q2 2026 Time Charter September 2023 drybulk carrier Japan Hakodate Handysize

  7. Slide 7: Financial Update: Income Statement

    FINANCIAL UPDATE C3is Inc. Income Statement Q2 2023 vs 6M 23 ’ Income Statement Q2 6M (Amounts in USD '000s) 2023 2023 Voyage Revenues 1703 4855 - Revenues came in at $1.7 million in Q2 2023, corresponding Voyage Costs (174) (459) to a daily TCE of $8,405.Our operational utilization was about Net Re

  8. Slide 8: Financial Update: Balance Sheet

    FINANCIAL UPDATE C3is Inc. Balance Sheet (December 31 2022 & June 30 2023) As of June 30, 2023, C3is has a debt free balance sheet Balance Sheet December 31 June 30 ( Amounts in $'000s) 2022 2023  Our fleet book value is $37.5 million (excluding the Assets Cash and cash equivalents 0 5,000 Stealth

  9. Slide 9: Q3 Developments

    Q3 DEVELOPMENTS C3is Inc. Net Asset Value (“NAV”) Update  On July 5, 2023, the Company raised $5.0 million  Public Offering of 4,765,000 units at an offering price of $1.05 per unit.  Units consisted of one common share (or one pre-funded warrant) and one Class A Warrant to buy one common share.

  10. Slide 10: Investment Highlights

    INVESTMENT HIGHLIGHTS C3is Inc. 1 Operate a high-quality fleet. Renew and expand our fleet fast, through selective 2 acquisitions and fleet diversifications. 3 Focus on short to medium term charters. 4 Supply of dry bulk vessels greatly constrained. 5 Economic recovery of China and India post Covid.

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