Shipping firm C3is posts Q3 revenue decline due to tanker dry-docking

Reuters11-18

Shipping firm <a href="https://laohu8.com/S/CISS">C3is</a> posts Q3 revenue decline due to tanker dry-docking

Overview

C3is Q3 2025 revenue decreased by 48% due to Aframax tanker dry-docking
Net income for Q3 2025 was $2.7 mln, with EPS of $2.32
Company completed a $2 mln stock offering to institutional investors

Result Drivers

DRY-DOCKING IMPACT - Afrapearl II dry-docking led to increased idle days, reducing fleet operational utilization to 67.7%
VOYAGE EXPENSES - Decrease in voyage expenses due to Afrapearl II's idle periods and reduced bunker consumption
SPOT MARKET RATES - Aframax tanker achieved spot market rates of around $52,000 per day

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q3 Revenue		$4.80 mln
Q3 Net Income		$2.70 mln
Q3 Basic EPS		$2.32
Q3 EBITDA		$4.20 mln

Press Release: ID:nGNX3ybNWF

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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