Announced Q1 2026 results on 06/13/26. Results included
- Rev of $170.2M
- EBITDA of $109.6M
- Profit of $88.3M
- Declared div of $2/sh
- Fleetwide TCE of $93,000 daily
Their Q2-to-date are even more crazy. VLCC $233,900 daily (46% done) and Suezmax $187,300 daily (60% done). In Jan 2026, ECO also completed another secondary offering to partially finance a pair of Suezmax newbuilds (delivery in May & July 2026) at ~ $100M each. ECO also opted to time-charter a VLCC for a year @ $91,000 daily and switch financing of two Suezmax from leases to loan financing (each vessel switched to $50M loan). Financing of newbuilds has also been completed.