11/20 I saw the Okeanis (ECO) price dip yesterday, but didn’t dig deeper. Well, the item below might have something to do with it. A share offering to cover part of the cost of two Suezmax newbuilds delivering in early 2026
Since NAT recently announced a pair of Suezmax newbuild orders @ $87M, it seems ECO is paying up to get newbuilds early, maybe $10M per vessel more. Is the extra cost worth it? Maybe. Entirely depends on the near term Suezmax spot market rates (near term being the next 12 - 24 months). I think, if the proceeds are used mostly on the newbuilds, then ECO will have a similar gearing as their current fleet leverage.