Capital Tankers Corp. (Euronext Growth Oslo: CAPT) (“Capital Tankers”, “CAPT”, the “Company”, “we” or “us”) announced its financial results for the first quarter ended March 31, 2026, its first quarterly report since the Company’s admission to trading on Euronext Growth Oslo on March 17, 2026.
Quarterly Highlights
• On March 17, 2026, the Company completed an initial public offering and was admitted to trading on Euronext Growth Oslo under the ticker “CAPT”, with net proceeds of $416.6 million (the “IPO”). The stabilisation period and partial exercise of the over-allotment option were completed on April 15, 2026, with the new share capital arising from the over-allotment exercise registered on April 17, 2026. Total net proceeds including the overallotment amounted to $454.1 million.
• During the First Quarter, the Company took delivery of six vessels, comprising one VLCC, two Suezmax tankers and three Aframax/LR2 tankers. As of March 31, 2026, the weighted average age of the fleet was 1.4 years. Subsequent to quarter-end and through the date of this release, the Company has taken delivery of six further vessels, bringing the sailing fleet to twelve vessels: one VLCC, four Suezmax and seven Aframax/LR2 tankers. Page 2 of 15
• The VLCC M/T Aristotelis II secured a one-year time charter at $100,000 per day with a major trader. The remainder of the sailing fleet operates in the spot market.
• Net income of $23.1 million for the First Quarter, $14.1 million for the Post-Listing Period.
• Fleetwide time charter equivalent (“TCE”) earnings¹ of $97,309 per day for First Quarter; $162,303 per day for the Post-Listing Period.
• Adjusted EBITDA¹ of $25.7 million for the First Quarter and $14.6 million for the Post-Listing Period.
• Total new debt drawn of $137.0 million during the First Quarter, excluding $82.5 million of debt assumed from Capital Maritime & Trading Corp. (“Capital Maritime”), with a further $241.0 million drawn subsequent to quarterend. As of the date of this release, total new debt drawn since inception amounts to $378.0 million, excluding $82.5 million of debt assumed from Capital Maritime, and we have $314.1 million of secured undrawn financing.
• The Board of Directors declared a cash dividend of NOK 0.50 per share for the first quarter of 2026. The exdividend date is June 4, the record date is June 5, 2026, and the dividend will be paid on or about June 16, 2026.
• In the second quarter of 2026 to date, approximately 71% of available fleetwide spot days have been booked at an average TCE rate of $153,059 per day on a discharge-to-discharge basis.
