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To be effective January 2, 2025 Aiming to meet the minimum bid price requirement for maintaining listing on Nasdaq ATHENS, GREECE – December 30, 2024 – C3IS INC. (the “Company”) (Nasdaq: CISS) today announced that its board of directors has determined to effect a one-for-two-and-a-half (1-for-2.5) reverse stock split of the Read more…

Athens, Greece, November 18, 2024 – C3is Inc. (Nasdaq: CISS) (the “Company”), a ship-owning company providing dry bulk and tanker seaborne transportation services, announced today its unaudited financial and operating results for the third quarter and nine months ended September 30, 2024.

OPERATIONAL AND FINANCIAL HIGHLIGHTS

• Our handysize dry bulk carriers are on time charters of short term durations, producing steady cash flows, while our Aframax tanker operates in the spot market, currently achieving voyage charter rates of around $48,000 per day.
• All our handysize dry bulk carriers and our Aframax tanker are unencumbered.
• Fleet operational utilization of 90.2% for the three months ended September 30, 2024, mainly due to the commercial idle days of the vessel that operated in the spot market, as our vessels that operated under time charter employment had few commercial idle days.

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Athens, Greece, November 12, 2024 – C3is Inc. (Nasdaq: CISS) (the “Company”), a ship-owning company providing seaborne transportation services, announced today that it will release its third quarter financial results for the period ended September 30, 2024 before the market opens in New York on November 18, 2024.

On November 18, 2024 at 11:00 am ET, the company’s management will host a conference call to present the results and the company’s operations and outlook.

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OPERATIONAL AND FINANCIAL HIGHLIGHTS

• Our handysize dry bulk carriers are on time charters of short term durations, producing steady cash flows, while our Aframax tanker operates in the spot market where voyage charter rates for Aframax tankers are currently around $27,000 per day.
• All our handysize dry bulk carriers and our Aframax tanker are unencumbered.
• Fleet operational utilization of 87.7% for the three months ended June 30, 2024, mainly due to the commercial idle days of the vessel that operated in the spot market, as our vessels that operated under time charter employment had few commercial idle days.

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Athens, Greece, August 19, 2024 – C3is Inc. (Nasdaq: CISS) (the “Company”), a ship-owning company providing seaborne transportation services, announced today that it will release its second quarter financial results for the period ended June 30, 2024 before the market opens in New York on August 22^nd, 2024.

On August 22^nd, 2024, at 11:00 am ET, the company’s management will host a conference call to present the results and the company’s operations and outlook. (more…)

OPERATIONAL AND FINANCIAL HIGHLIGHTS

• Our handysize dry bulk carriers are on time charters of short term durations, producing steady cash flows, while our Aframax tanker operates in the spot market where voyage charter rates for Aframax tankers are in excess of $40,000 per day.
• All our handysize dry bulk carriers, and our Aframax tanker are unencumbered.
• Fleet operational utilization of 93.4% for the three months ended March 31, 2024, as our vessels that operated under time charter employment had few commercial idle days.

• Revenues of $12.8 million for the three months ended March 31, 2024, corresponding to a daily TCE[1] of $36,480.
• 129% increase in daily TCE for the three months ended March 31, 2024, as compared to the three months ended March 31, 2023.
• Our Company generated a Net Income of $3.8 million for the three months ended March 31, 2024.
• 404% increase in Net Income for the three months ended March 31, 2024, as compared to the three months ended March 31, 2023.
• Our Company generated an EBITDA[2] of $5.7 million for the three months ended March 31, 2024.
• 302% increase in EBITDA for the three months ended March 31, 2024, as compared to the three months ended March 31, 2023.
• 19% increase in Total Assets as of March 31, 2024 compared to December 31, 2023.
• Basic and Diluted EPS for the first quarter of 2024 was $1.11.
• Our Basic and Diluted EPS for the quarter annualized and compared to our current share price represent a price to earnings ratio of approximately 0.36.
• During the first quarter of 2024, we concluded two follow-on equity offerings, generating aggregate net proceeds of $11.4 million which increased our cash balance, including time deposits, to $34.9 million.
• In April 2024, our Company effected a reverse stock split of 1 for 100 of its common shares, aimed at meeting the minimum bid price requirement for maintaining listing on Nasdaq Capital Market, thus all share amounts have been retrospectively restated.
• In April 2024, our Company announced an agreement to acquire a 2012-built Japanese handysize drybulk carrier from an affiliated company. Following this vessel acquisition and the delivery of the 33,664 DWT handysize drybulk carrier to our Company in May 2024, the total fleet capacity increased to 213,468 dwt. 10% of the purchase price was paid on delivery, with the remaining 90% due in April 2025.

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