C3is Q3 2025 Financial Results: Drybulk & Tanker Performance

C3is has released its unaudited financial and operating results for the third quarter and nine months ended September 30, 2025, offering a detailed look into the shipping company’s performance. The **C3is financial results** reveal insights into their diversified fleet of drybulk carriers and an Aframax tanker, highlighting both stable revenue streams from time charters and dynamic earnings from spot market operations.

### Fleet Operations and Market Strategy
During Q3 2025, C3is reported a fleet operational utilization of 67.7%. This figure was notably influenced by the commercial idle days of the Aframax tanker, which underwent a scheduled drydocking in August 2025. In contrast, the company’s handysize dry bulk carriers maintained steady cash flows through short-term time charters. The Aframax tanker, operating in the volatile spot market, achieved impressive voyage charter rates averaging around $52,000 per day, showcasing strong tanker market demand despite the drydocking.

### Revenue Performance and Market Insights
For the three months ending September 30, 2025, C3is reported revenues of $4.8 million, with a daily TCE (Time Charter Equivalent) of $8,733. This marks a decrease compared to Q3 2024, which saw revenues of $9.3 million and a daily TCE of $13,084. The shift reflects various factors including the Aframax tanker’s drydocking and broader fluctuations in the global shipping market. Despite these changes, the unencumbered status of all vessels provides C3is with significant financial flexibility.