C3is has entered into an agreement to acquire a 2011 South Korean-built product tanker for a purchase price of $22.9 million. The unnamed vessel, which has a capacity of 47,203 DWT, is being purchased from an entity affiliated with Brave Maritime.
The transaction with Brave Maritime, which is affiliated with members of the Vafias family, was approved by the independent directors of C3is. The company obtained independent valuations of the vessel and used the average price of these valuations to determine the final cost.
C3is stated the vessel is expected to be delivered between the first quarter and second quarter of 2026. Under the terms of the agreement, the company has the option to pay for the vessel one year after the date of the purchase agreement without interest.
Following the delivery of this vessel, the fleet of C3is will total six vessels, assuming no further acquisitions or dispositions occur other than the pending product tanker acquisition previously announced.
This fleet will consist of three Handysize drybulk carriers with a total capacity of 97,664 DWT, an Aframax oil tanker with a capacity of approximately 115,800 DWT, and two product tankers with a capacity of approximately 97,203 DWT.
C3is stated this will result in a total fleet capacity of 310,667 DWT.
