Okeanis Eco Tankers Corp. (ECO) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to OIT's fourth quarter 2025 financial results presentation. We will begin shortly. Aristides Alefouzos, CEO, and Heracles Baronis, CFO of Okeanis Ecotankas, will take you through the presentation. They will be pleased to address any questions raised at the end of the call. Matters that are forward-looking in nature will be discussed, and actual results may differ from the expectations reflected in such forward-looking statements. Please read through the relevant disclaimer on slide two. I would like to advise you that this session is being recorded. Our students will begin the presentation now. Thank you. Since August of last year, the large crude tanker market entered the freight cycle that we've been waiting for and prepared for all these years. This is a unique opportunity to have exposure to a fleet that is on the water and able to capitalize today. For a shipping investor, on-the-water exposure is critical in the current circumstances. As our conviction strengthened after the summer, we executed two opportunistic transactions and acquired four resale Suezmax new buildings from Korea. The first two have already delivered. One has loaded her first cargo and the other one is about to load, while the remaining two will be delivered in the next two, three months. We have already had a structurally strong freight market with strong asset values, but we added the Venezuelan barrels coming back to the normal fleet and and the new trade flows that creates, India materially reducing Russian imports, the Iranian question looming, and likely, most importantly, Sinovac consolidating the VLCC market in a manner that has not been done before. They are currently owning and operating and waiting to be delivered a fleet of around 150 VLCCs. As a result, our NAV has been ...