Okeanis Eco Tankers Corp. Commercial Update; For Q4 2023 Estimated Fleetwide Daily Time Charter Equivalent Rate Of Approximately $45,300 Per Operating Day.
Portfolio Pulse from Benzinga Newsdesk
Okeanis Eco Tankers Corp. (NYSE:ECO) provided a commercial update for Q4 2023, estimating a fleetwide Daily Time Charter Equivalent Rate (Daily TCE Rate) of approximately $45,300 per operating day. The estimated Daily TCE Rates for VLCC and Suezmax vessels were $45,200 and $45,500 per operating day, respectively, with Suezmax spot days at $51,800. For Q1 2024, 61% of VLCC and 41% of Suezmax spot days have been booked at $76,100 and $59,300, respectively. The Daily TCE Rate is a non-GAAP and non-IFRS measure, and the company has not finalized its financial statements for 2023, indicating that the provided figures are preliminary and subject to change.
January 22, 2024 | 9:40 pm
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POSITIVE IMPACT
Okeanis Eco Tankers Corp. anticipates a solid Daily TCE Rate for Q4 2023 and has secured favorable booking rates for Q1 2024. However, the financial results are not finalized and may be subject to adjustments.
The positive estimated Daily TCE Rates for Q4 2023 and the booking rates for Q1 2024 suggest a strong performance, which could positively impact ECO's stock price in the short term. However, the company's disclaimer about the preliminary nature of these figures and the potential for adjustments introduces uncertainty, which is reflected in the confidence score.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100