Okeanis Eco Tankers Corp. - New Financings Update
Okeanis Eco Tankers Corp. (OET) has secured two major financing deals to fund the acquisition of two new Suezmax tankers. The vessels, currently under construction, are set to join the fleet in early 2026. Both loan agreements are expected to finalise in January of that year.
The two ships, named Nissos Piperi and Nissos Serifopoula, are being built at Daehan Shipbuilding Co., Ltd. Delivery is scheduled for January 2026, with OET anticipating immediate cash flow generation from their operation.
OET has arranged a $45.0 million facility for each vessel through separate agreements with Greek banks. The Nissos Piperi Facility carries an interest rate of Term SOFR plus 130 basis points, with a seven-year term. Repayments will be made in quarterly instalments of $0.525 million, followed by a final balloon payment of $30.3 million at maturity.
The Nissos Serifopoula Facility follows a similar structure, with the same interest rate but an eight-year term. Quarterly repayments will also be $0.525 million, concluding with a $28.2 million balloon payment.
Iraklis Sbarounis, OET’s CFO, stated that these financings would benefit shareholders and strengthen the company’s capital position. The new vessels are projected to lower daily debt service costs and improve financial performance upon delivery.
Both financing deals are on track to close in January 2026, aligning with the expected delivery of the tankers. The company plans to use the vessels to boost operational cash flow and reduce breakeven costs. The agreements mark a key step in OET’s fleet expansion strategy.
