GREECE, August 14, 2020 – Okeanis Eco Tankers Corp. (“OET” or the “Company”)
today reported unaudited interim condensed consolidated results for the second
quarter and first half year ended June 30, 2020. 

Q2 2020 Highlights

•	Time charter equivalent (“TCE”) revenue and Adjusted EBITDA of $69.3 million
and $56.6 million, respectively. Profit for the period of $37.1 million or $1.15
per share (basic & diluted). The outperformance relative to previously released
guidance is mainly attributable to higher than expected profit share.
•	Fleetwide daily TCE rate of $51,900 per operating day; VLCC, Suezmax and
Aframax/LR2 TCE rates of $59,700, $52,900 and $28,000 per operating day,
respectively.
•	Daily vessel operating expenses of $7,367 per calendar day, including
management fees.
•	In Q3 2020 to date, 67% of the available VLCC spot days have been booked at an
average TCE rate of $54,200 per day, 66% of the available Suezmax spot days have
been booked at an average TCE rate of $39,600 per day and 89% of the available
Aframax/LR2 spot days have been booked at an average TCE rate of $19,700 per
day.
•	In April 2020, the Company entered into a three-year time charter contract
with a leading international energy company for its VLCC Nissos Keros and an
eight-month time charter contract with a national energy company for its VLCC
Nissos Kythnos.
•	Also in April 2020, the Company purchased 250,000 of its own shares at an
average price of NOK 57.5 per share.
•	In June 2020, the Company paid a cash dividend of $0.50 per share to its
shareholders, amounting to $16.2 million.

Subsequent Events

•	The Board of Directors of OET declared a cash dividend of $0.75 per share,
amounting to $24.3 million. The cash dividend will be paid on Wednesday
September 2, 2020 to shareholders of record as of Thursday August 20, 2020. The
shares will be traded ex-dividend as from and including Wednesday August 19,
2020. 
•	In July 2020, the Company received firm commitment for a $103.21 million
secured loan facility from the Export-Import Bank of Korea, the BNK Busan Bank
and the BNK Kyongnam Bank for the financing of Suezmax newbuilding vessels
Nissos Sifnos and Nissos Sikinos. The vessels’ daily cash breakeven rate is
anticipated to be sub-$21,000 per day.
•	Also in July 2020, Suezmax newbuilding vessels Nissos Sifnos & Nissos Sikinos
both entered into three-year time charter contracts (delivery September 2020
ex-yard).
•	Lastly in July 2020, the Company refinanced the Suezmax vessels Kimolos and
Folegandros. The net effects of the two refinancings were a reduction in overall
leverage of $1.9 million and a reduction in the vessels’ blended average daily
cash breakeven rate of ~$1,200 per day.

The full unaudited interim results and presentation are attached to this press
release.

OET will be hosting a webcast at 14:30 CET on Monday August 17, 2020 to discuss
second quarter 2020 results. Participants may access the conference call using
the below dial-in details:

Norway: +47 2 156 3318
USA: +1 212 999 6659
Greece (Toll Free): 00800 1273 78
UK (Standard International Access): +44 (0) 20 3003 2666
Password: Okeanis

The webcast will include a slide presentation and will be available on the
following link:
https://channel.royalcast.com/webcast/okeanis/20200817_1/

Contact:
John Papaioannou, CFO
Tel: +30 210 480 4099
Email: jvp@okeanisecotankers.com

This information is subject to disclosure requirements pursuant to Section 5-12
of the Norwegian Securities Trading Act.

ABOUT OKEANIS ECO TANKERS CORP.

Okeanis Eco Tankers Corp. is a pure play eco and scrubber-fitted tanker company
that owns and operates a fleet of 17 modern, high-specification crude oil and
products tankers in the VLCC, Suezmax and Aframax/LR2 segments. 

FORWARD LOOKING STATEMENTS

Matters discussed in this release may contain certain forward-looking statements
relating to the business, financial performance and results of the Company
and/or the industry in which it operates, sometimes identified by the words
"believes", "expects", "intends", "plans", "estimates" and similar expressions.
The forward-looking statements contained in this release, including assumptions,
opinions and views of the Company or cited from third-party sources, are solely
opinions and forecasts that are subject to risks, uncertainties and other
factors that may cause actual events to differ materially from any anticipated
development. The Company does not provide any assurance that the assumptions
underlying such forward-looking statements are free from errors, nor does the
Company accept any responsibility for the future accuracy of the opinions
expressed in the presentation or the actual occurrence of the forecast
developments. No obligations are assumed to update any forward-looking
statements or to conform to these forward-looking statements to actual results.

The information, opinions and forward-looking statements contained in this
announcement speak only as at its date and are subject to change without notice.