Fourth Quarter Performance
The company’s Aframax tanker, Afrapearl II, continued to capitalize on the spot market, currently achieving voyage charter rates of approximately $60,000 per day.
Fleet Expansion and Liquidity
C3is ended 2025 with $14.9 million in cash and cash equivalents. The company maintained a debt-free balance sheet, reporting that its entire current fleet of four vessels is unencumbered.
The firm is aggressively expanding its footprint, with agreements to acquire two product tankers for $39.8 million. These vessels, scheduled for delivery in 2026, are expected to increase the company’s total fleet capacity to approximately 310,667 deadweight tons (dwt) a 387% increase since the company’s inception.
Outlook
Management expressed a constructive outlook for 2026, citing resilient oil demand and shifting trade patterns despite ongoing geopolitical volatility. To maintain compliance with Nasdaq listing requirements, the company recently effected a 1-for-20 reverse stock split on January 26, 2026.