Okeanis Eco Tankers Corp. (“OET”) was incorporated on April 30, 2018 under the laws of the Republic of the Marshall Islands. On June 28, 2018, all of the shares in fifteen single-purpose companies (“SPVs”) and OET Chartering Inc., were transferred to OET from Okeanis Marine Holding (“OMH”), a holding company controlled by the Alafouzos family. Control was established from the time the Company had the power to govern the financial and operating policies of the contributed SPVs, so as to accrue benefits from their activities. OET was admitted to trading on Merkur Market on July 3, 2018 and on January 2021 transferred its listing from Euronext Expand to Oslo Børs. The ECO fleet of OMH was contributed to the Company as a payment in-kind transaction where OMH received shares in the Company in return. The Alafouzos family fully owned OMH and holds a stake of 57% in OET.
OET is a recently established international tanker company in the crude oil shipping industry, with the ambition to own, charter out and operate tanker vessels. OET owns, through its vessel-owning subsidiaries, the SPVs, a fleet of twelve tanker vessels and has two tanker vessels on order. The sailing fleet consists of six modern Suezmax tankers, six modern VLCC tankers, while the newbuilding fleet consists of two VLCC tankers. Among the factors that are believed to separate OET from other tanker owners are: a) its focus on “future proof” vessels built to ECO standards that consume less bunker fuel than conventional tanker vessels; b) being equipped with exhaust gas cleaning systems (“scrubbers”) and; c) being built to comply with regulations for ballast water treatment.