C3is Inc.
For the period ended Jun 30, 2026. Filed Sep 29, 2026.
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Jun 30, 2026 · Filed Sep 29, 2026
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CISS$0.43+12.7%Stored close · as of Nov 6, 2026
Contents
EX-99.1 · Fleet Data
Fleet Data
| For the six-monthperiod ended June 30,2025 | For the six-monthperiod ended June 30,2026 | |
|---|---|---|
| Average number of vessels (1) | 4 | 4.5 |
| Period end number of owned vessels in fleet | 4 | 5 |
| Total calendar days for fleet (2) | 724 | 813 |
| Total voyage days for fleet (3) | 724 | 746 |
| Fleet utilization (6) | 100.0% | 91.8% |
| Total charter days for fleet (4) | 464 | 511 |
| Total spot market days for fleet (5) | 260 | 235 |
| Fleet operational utilization (7) | 84.8% | 81.4% |
| 1) | Average number of vessels is the number of owned vessels that constituted our fleet for the relevant period, as measured by the sum of the number of days each vessel was a part of our fleet during the period divided by the number of calendar days in that period. 2) Total calendar days for fleet are the total days the vessels we operated were in our possession for the relevant period including off-hire days associated with major repairs, drydockings or special or intermediate surveys. |
| 3) | Total voyage days for fleet reflect the total days the vessels we operated were in our possession for the relevant period net of off-hire days associated with major repairs, drydockings or special or intermediate surveys. |
| 4) | Total charter days for fleet are the number of voyage days the vessels operated on time or bareboat charters for the relevant period. |
| 5) | Total spot market charter days for fleet are the number of voyage days the vessels operated on spot market charters for the relevant period and the days that vessels were commercially idle. |
| 6) | Fleet utilization is the percentage of time that our vessels were available for revenue generating voyage days, and is determined by dividing voyage days by fleet calendar days for the relevant period. |
| 7) | Fleet operational utilization is the percentage of time that our vessels generated revenue, and is determined by dividing voyage days excluding commercially idle days by fleet calendar days for the relevant period. |
| 8) | Average time charter equivalent daily rate (“average TCE rate”) is a measure of the average daily revenue performance of a vessel. We determine the average time charter equivalent daily rate by dividing voyage revenues net of voyage expenses (the “Time charter equivalent revenues”) by voyage days for the relevant time period. Voyage expenses primarily consist of port, canal and fuel costs that are unique to a particular voyage and are payable by us under a spot charter (which would otherwise be paid by the charterer under a time charter contract), as well as commissions or any voyage costs incurred while the vessel is idle. Time charter equivalent revenues and average time charter equivalent daily rate are non-GAAP measures comparable GAAP measure to time charter equivalent revenues, because they assist Company management in making decisions regarding the deployment and use of its vessels and in evaluating their financial performance. They are also standard shipping industry performance measures used primarily to compare period-to-period changes in a shipping company’s performance despite changes in the mix of charter types (i.e., spot charters or time charters) under which the vessels may be employed between the periods. Our calculation of time charter equivalent revenues and average time charter equivalent daily rate may not be comparable to that reported by other companies in shipping or other industries. TCE assists our investors to assess our financial performance from period to period on a comparable basis and provides investors with a means of better evaluating and understanding our operating performance. |
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