C3is Inc. Increases Fleet DWT Capacity by 385%
Following the delivery of the two MR product tankers scheduled to be delivered between the first quarter and the third quarter of 2026, and assuming no further vessel acquisitions or dispositions, the Company's fleet will consist of six vessels: one Aframax oil tanker with a capacity of approximately 115,800 deadweight tons, two MR product tankers with capacities of approximately 50,000 dwt each and three Handysize dry bulk carriers with an aggregate capacity of 97,664 dwt. The Company's total fleet capacity is expected to be approximately 310,667 dwt. Subsequent to these latest acquisitions, C3is Inc. will have increased its fleet DWT capacity by 385% from inception, without resorting to any bank loans. The Company's tanker fleet, consisting of one Aframax tanker and two MR product tankers, is expected to operate in the spot market, which is currently exhibiting strong fundamentals. Based on currently prevailing market conditions, average daily charter revenues are estimated at approximately $55,000 for Aframax tankers and $25,000 for MR product tankers. We believe the cash flow contribution from the Company's tanker fleet will be substantial. The Company's Handysize dry bulk carriers are currently employed under short-term fixed time charter contracts, generating average daily charter rates of approximately $15,800, providing more stable revenues and contributing to cash flow generation.
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C3is Inc. Stock Soars After Reverse Split Implementation
- Reverse Split Implementation: C3is Inc. executed a 1-for-20 reverse stock split on Sunday, leading to a 15.59% surge in after-hours trading to $2.15, despite a 9.71% drop to $1.86 during regular trading, indicating initial market reaction to the split.
- Share Count Reduction: The reverse split reduced outstanding shares from approximately 24.7 million to 1.23 million, with no fractional shares issued, and shareholders compensated in cash, aimed at enhancing per-share value and attracting investor interest.
- Warrant Adjustments: The company’s outstanding warrants and Series A Convertible Preferred Stock will be proportionately adjusted to reflect the reverse split, ensuring investor rights are preserved and potentially boosting market confidence.
- Market Performance Analysis: C3is Inc. has a Relative Strength Index (RSI) of 19.67 and a market capitalization of $1.91 million, with a staggering 98.71% decline in stock price over the past 12 months, currently positioned near its 52-week low, reflecting significant loss of investor confidence.
C3is (CISS) Acquires Two Medium Range Tankers for $39.8 Million, Expanding Fleet by 50%
- Acquisition Announcement: C3is has agreed to acquire two medium range product tankers for a total of $39.8 million, with one tanker priced at $16.88 million and the other at $22.90 million, expected to be delivered between Q1 and Q3 of 2026, thereby expanding its fleet by 50%.
- Fleet Expansion: Following the acquisitions, C3is will increase its fleet to six vessels, comprising three Handysize dry bulk carriers and three tankers, including an Aframax oil tanker, which enhances the company's competitive position in the shipping market.
- Funding Source: The company stated that the acquisitions will be financed through a one-year interest-free loan, ensuring financial flexibility and cost control for the transactions.
- Board Approval: The deals have been approved by C3is's independent directors, reflecting the company's commitment to governance transparency and shareholder interests.
