Okeanis Eco Tankers: Bet On Crude Tankers Deficit With The Youngest Fleet In The Industry [Seeking Alpha]
Okeanis Eco Tankers Corp. (ECO)
Company Research
Source: Seeking Alpha
The company's financial performance, margins, and returns are superior to its competitors, and it pays dividends with a TTM yield of 17.39%. ECO maintains adequate liquidity levels – $76.5 million cash, LTM operating income of $226 million, and LTM operating cash flow of $205 million. ECO trades at 123% P/NAV. For reference, NAT trades at 88% P/NAV and DHT at 103%. I would give a strong buy if P/NAV were below 90%. At the current price, I would buy some shares and use the dips to add more size. I give ECO a buy rating. Introduction Okeanis Eco Tankers ( NYSE: ECO ) is one of the most interesting companies in the tanker universe. It has a young fleet, 100% equipped with scrubbers. ECO's capital structures reflect its excellent fleet – 173% total debt/equity and 64.5% total liabilities/total assets. The new fleet comes at a steep price. However, it pays off. ECO margins and returns are far superior to those of similar companies and majors like Frontline ( FRO ). More or less,
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ECO
News
- Okeanis Eco Tankers Corp. – Key Information relating to Q1 2024 dividendGlobeNewswire
- Okeanis Eco Tankers Corp. – Unaudited Condensed Financial Statements for the First Quarter and Three-Month Period of 2024GlobeNewswire
- Okeanis Eco Tankers Corp. – Invitation to Q1 2024 Results Conference Call and WebcastGlobeNewswire
- Meet The Greek Shipping Billionaires Getting Rich Off Russian Oil [Forbes]Forbes
- Okeanis Eco Tankers Corp. – Announcement of 2024 Annual Meeting of ShareholdersGlobeNewswire
ECO
Sec Filings
- 5/16/24 - Form 6-K
- 5/16/24 - Form 6-K
- 5/13/24 - Form 6-K
- ECO's page on the SEC website