C3is Inc. Expands Fleet with Acquisition of Two MR Product Tankers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 22 2026
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Should l Buy CISS?
C3is Inc. announced the expansion of its fleet by entering into two memoranda of agreement for the acquisition of two MR product tankers with an approximate capacity of 50,000 dwt per vessel, both built in South Korea in 2008 and 2011, respectively. The purchase price is $16.88M for the 2008-built tanker and $22.9M for the 2011-built tanker. The vessels are expected to be delivered to the company between the first and third quarters of 2026. Following completion of these acquisitions, the company's fleet will increase by 50% to a total of six vessels and focus on the lucrative tanker sector. It will consist of three Handysize dry bulk carriers and three tankers, an Aframax oil tanker and two MR product tankers. The vessels will be acquired from an entity affiliated with Brave Maritime Corp Inc. The acquisitions were approved by the independent directors of the company, who obtained independent valuations for the vessels and based the respective purchase prices on the average of those valuations. The acquisitions are funded with a one-year interest free loan, pursuant to which the company may elect to pay the entire purchase price of the vessels at any time during the year following the date of the applicable memoranda of agreement.
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Analyst Views on CISS
About CISS
C3is Inc. is a Greece-based entity, incorporated in Marshall Islands, primarily engaged in seaborne transportation services to drybulk charterer for both national and private clients. The Company acts as a holding company and operates through its two subsidiaries. The Company's fleet consists of two handysize drybulk carriers: Eco Bushfire and Eco Angelbay.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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