C3is Inc. (CISS) has released an update.
C3is Inc. has reported substantial growth in its second quarter of 2024, with a noteworthy 185% increase in daily TCE and a striking 885% surge in adjusted net income compared to the previous year. The company’s strategic financial maneuvers included paying off a major vessel purchase and acquiring a new handysize drybulk carrier, contributing to a robust 44% asset growth. Despite a reported net loss, adjusted figures reflect a strong performance, with fleet operational utilization remaining high at 87.7%.
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