Efficiency Delivery reported its third-quarter monetary outcomes for 2025, highlighting stable fleet efficiency amidst softer market situations.
For the three months ending September 30, 2025, the corporate posted web revenue of $3.9 million, a lower from $12.4 million in the identical interval in 2024. This drop was primarily pushed by lowered time-charter equal (TCE) charges and a lower in accessible fleet days because of the scheduled drydocking of its Aframax tanker, M/T P. Aliki. Regardless of these challenges, the corporate’s income reached $18.5 million for the quarter, a slight decline from $22.9 million in Q3 2024.
Efficiency Delivery’s fleet of tankers noticed a median TCE price of $29,460 per day within the third quarter, down from $34,307 within the prior 12 months. The corporate’s balanced deployment technique, with a mixture of spot market publicity and time-chartered vessels, supported income era, significantly as Aframax charges averaged $37,500 per day.
For the 9 months ended September 30, 2025, Efficiency Delivery reported a web revenue of $42.4 million, a rise from $34.0 million throughout the identical interval in 2024, with earnings per share of $3.30 (fundamental) and $1.09 (diluted).
Andreas Michalopoulos, CEO of Efficiency Delivery, commented on the corporate’s technique, noting that the sturdy tanker market, pushed by excessive international demand and geopolitical elements, continued to assist its efficiency. “Our fleetwide deployment technique continues to generate secure money flows, whilst we handle elevated working prices and financing bills,” mentioned Michalopoulos.
Wanting forward, the corporate is concentrated on increasing and modernizing its fleet. Efficiency Delivery has not too long ago agreed to amass two 2019-built, eco-design Suezmax tankers, scheduled for supply in early 2026. These vessels will likely be employed beneath long-term time charters at $36,500 per day, additional enhancing the corporate’s income visibility. As well as, the corporate not too long ago secured a two-year time constitution for its Aframax tanker, M/T P. Lengthy Seashore, at $30,500 per day.
With these new acquisitions, Efficiency Delivery goals to proceed its fleet renewal technique, rising its working capability by 75% because the finish of 2024, whereas lowering its fleet’s common age from 13.6 years to 9.2 years. The corporate’s secured income backlog now stands at $330 million, with 70% of its 2026 revenues already secured beneath time charters.
Efficiency Delivery’s sturdy liquidity place, supported by a current $100 million Nordic bond issuance, leaves the corporate well-positioned to capitalize on market alternatives and proceed its development trajectory.
The corporate’s strategic investments, mixed with the stable fundamentals within the tanker market, are anticipated to drive continued success within the upcoming quarters, significantly in the course of the seasonal winter demand for Aframax tankers.
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