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The latest update is out from Okeanis Eco Tankers Corp. ( (ECO) ).
Okeanis Eco Tankers Corp. announced it has exercised options to repurchase three VLCC vessels, Nissos Kea, Nissos Nikouria, and Nissos Anafi, from their current sale and leaseback financier. The company secured a $130 million credit facility from a Greek bank to finance the repurchase of Nissos Nikouria and Nissos Anafi, with the deal expected to close in mid-2025. This strategic move is part of OET’s efforts to improve its capital structure and enhance resilience against industry risks, leveraging favorable financing conditions and longstanding relationships within the Greek banking sector.
More about Okeanis Eco Tankers Corp.
Okeanis Eco Tankers Corp. is a leading international tanker company that provides seaborne transportation of crude oil and refined products. Incorporated in 2018 under the laws of the Republic of the Marshall Islands, the company is listed on both the Oslo Stock Exchange and the New York Stock Exchange. Its fleet consists of modern scrubber-fitted Suezmax and VLCC tankers.
Average Trading Volume: 189,411
Technical Sentiment Signal: Buy
Current Market Cap: $779.6M
Find detailed analytics on ECO stock on TipRanks’ Stock Analysis page.