Okeanis Eco Tankers Corp.

The cost of shipping oil in supertankers surged to fresh record highs this week following the biggest wave of attacks on Middle East shipping since the start of the U.S.-Iran war, Bloomberg reported. Earnings for Very Large Crude Carriers on the benchmark Middle East-to-China route hit a record of nearly $800K/day, while the U.S. Gulf-to-Asia run fetched offers at a record lump-sum fee of $29.5M, nearly $15/bbl before additional war risks or delay fees. The Baltic Exchange, which has begun publishing an index covering the voyage from the Gulf of Oman to east Asia, estimates daily earnings on that route spiked 85% to nearly $386K/day this week. VLCC freight rates for the Middle East to Amsterdam-Rotterdam-Antwerp route also spiked to a fresh high, and the escalation had a wider knock-on effect as rates on the West Africa to Asia route reached a record high as well, according to a Reuters report citing Baltic Exchange data. Freight analysis from data intelligence firm Kpler suggests dayrates for VLCCs will stay above $100K into next year, more than double historic levels that rarely went above $45K.

President Trump declared the U.S. would act as the 'Guardian of the Hormuz Strait' and charge a 20% fee on all transiting cargo to cover security costs, prompting the International Maritime Organization to state there is no legal basis for mandatory tolls to transit a strait. The announcement follows escalating clashes in which Iran has targeted commercial vessels and vowed to impose its own fees for passage, while the U.S. has conducted airstrikes against Iranian installations. The IMO, the U.N. body overseeing global shipping safety, clarified that freedom of navigation is guaranteed under customary international law, which the U.S. has historically recognized. The proposed fee marks a shift toward transactional foreign policy, raising concerns that allies may seek alternative security arrangements and that other powers could assert similar claims in contested waterways.

Okeanis Eco Tankers is benefiting from strong crude tanker market conditions, with most of its ships operating in the spot market where freight rates fluctuate daily. The company has reported record earnings, driven by higher daily charter rates for both its Very Large Crude Carrier and Suezmax tankers, and many of its ships have already secured attractive rates for upcoming voyages. Higher oil production from OPEC countries, changes in global crude oil trade routes, longer shipping distances, and geopolitical tensions in key shipping regions have all increased demand and reduced vessel availability, keeping freight rates elevated. Okeanis Eco Tankers' modern and fuel-efficient fleet further enhances its attractiveness to customers and lowers operating costs, supporting strong cash flows and dividends. Shares of ECO have gained in double digits over the past six months, outperforming the Zacks Transportation-Shipping industry, and the stock currently carries a Zacks Rank of 1, or Strong Buy.