Okeanis Eco Tankers (OET) Conference Presentation summary

State of the art asset base

• Operates 14 modern, eco-design, scrubber-fitted crude tankers with an average age of ~6 years, all built in top-tier Korean and Japanese yards, totaling 3.5 million DWT.

• Maintains the youngest fleet among listed peers, with 100% scrubber and BWTS penetration.

• Fleet is well-positioned as older global tonnage faces regulatory and economic headwinds, with a shrinking orderbook and high recycling candidates.

Superior commercial execution

• Achieved consistent spot market TCE outperformance: VLCCs by 22% and Suezmaxes by 39% over 22 quarters.

• Q1 2025 guidance: 81% of VLCC spot days fixed at $39,100/day, 77% of Suezmax spot days at $33,400/day.

• Focuses on maximizing triangulation and laden legs, capitalizing on shifting trade flows and increased tonne-miles from sanctions and Asian demand.

Prudent capital structure

• Net market LTV at 40% with no debt maturities until 2028, supporting long-term flexibility.

• Refinanced 12 of 14 vessels, reducing average debt cost by ~110bps and saving $7m annually.

• Staggered maturities from 2028-2031 and robust cash position ($54m) with total assets of $1.1bn and equity of $410m.