Stainless Tankers reported a net profit of $7.2 million for the year ending December 31, 2025, down from $14.6 million in 2024.
These results reflected the impact of three vessel disposals and a heavy drydocking schedule that reduced available earning days, according to the company.
Operating revenue for the period reached $40.5 million, a decrease from the $68.2 million recorded in 2024. Stainless Tankers noted that fleet utilisation fell to 89 per cent from 96 per cent in the prior year.
The company completed the sale of the vessels Marmotas, Monax, and Gwen during 2025. Following these divestments, the group operates a fleet of six stainless steel chemical tankers with a carrying capacity of approximately 20,000 DWT each.
Total available ship days decreased to 2,607 from 3,294 in 2024. Stainless Tankers said the reduction was caused by the sale of the three vessels and the scheduled docking of four other ships.
The fleet incurred 287 off-hire days, which included 134 unplanned days primarily due to main engine bearing repairs on the Lavraki. The company reported that these repairs were completed and certified as permanent on June 17, 2025.
Net time charter equivalent rates in the Womar Pool averaged $16,680 per day, compared to $21,365 in 2024. Stainless Tankers stated that seaborne chemicals tonne-miles trade contracted by 0.9 per cent during the year as trade patterns were disrupted.
Newbuild deliveries in the segment reached 17 vessels in 2025, which Stainless Tankers said represented 57 per cent of the 30 deliveries expected at the start of the year.
Stainless Tankers stated that utilisation is expected to normalise in 2026 because the majority of intermediate surveys for the fleet have been completed. Conflict in the Middle East during February 2026 disrupted baseline trends and halted vessel transits through the Strait of Hormuz.
The company reported that spot rates rose to approximately $17,000 per day in March 2026 and continued to strengthen in April. Its vessels did not transit the Red Sea in 2025 due to elevated threat levels from Houthi forces.