Company Expects Q1 2026 Daily Hire Rate to Reach $14,000
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 19 2026
0mins
Should l Buy ICON?
The company states: "All of our vessels are currently employed on time charters, earning hire at floating daily rates linked to the Baltic Panamax Index and the Baltic Supramax Index, a strategy that enables us to maintain high fleet utilization while preserving exposure to market upside. The average gross hire rate for each of our vessels in the first quarter of 2026 is expected to be approximately $14,000 per day, up 63% from $8,600 per day during the first quarter of 2025. Earnings growth is amplified by the addition of the M/V Charlie to our fleet in June 2025, which is expected to drive a 50% year-on-year increase in Operating Days. As a result, revenue, net during the first three months of 2026 is expected to be between $3.5 million and $3.7 million, more than doubling from $1.5 million during the corresponding period in 2025."
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Analyst Views on ICON
Wall Street analysts forecast ICON stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 0.841
Low
2.00
Averages
2.00
High
2.00
Current: 0.841
Low
2.00
Averages
2.00
High
2.00
About ICON
Icon Energy Corp is a Greece-based holding company incorporated in the Republic of Marshall Islands for the purpose of acquiring, owning, chartering and operating dry bulk vessels through its subsidiaries. The Company is engaged in the ocean transportation of dry bulk cargoes worldwide through the ownership and operation of dry bulk vessels, such as the Panamax vessel M/V Alfa, and others, as it is intends to charter its vessels to regional and international dry bulk operators, commodity traders and other customers primarily on time charters (either index-linked or fixed rate) or voyage charters. Dry bulk vessels of the Company are able to transport such bulks as iron ore, coal, grains and bauxite, as well as other bulks, including but not limited to steel, sugar, fertilizers, cement and scrap metal.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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