General Information and Basis of Presentation (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
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| Summary of Subsidiary Companies |
At December 31, 2025, the Company held 100% interest in the below companies.
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Dead Weight
Tonnage
(“dwt”) |
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| Clean Power Inc. |
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5/2/2007 |
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Magic Wand |
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47,000 |
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9/1/2008 |
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— |
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| MR Roi Inc. |
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5/2/2007 |
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Clean Thrasher |
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47,000 |
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27/2/2008 |
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— |
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| King of Hearts Inc. |
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17/3/2008 |
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Clean Sanctuary |
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46,000 |
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14/7/2009 |
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— |
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| Nirvana Product Trading Inc |
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25/2/2022 |
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Clean Nirvana |
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50,000 |
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28/3/2022 |
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— |
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| Volume Jet Trading Inc. |
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25/2/2022 |
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Clean Justice |
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46,000 |
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31/5/2022 |
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— |
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| Intercontinental Crude and Product Enterprises Inc. |
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18/5/2022 |
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Suez Enchanted |
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160,000 |
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3/6/2022 |
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— |
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| Petroleum Trading and Shipping Inc. |
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21/4/2022 |
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Suez Protopia |
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160,000 |
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3/6/2022 |
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— |
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| Haven Exotic Trading Inc. |
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31/1/2023 |
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Eco Wildfire |
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33,000 |
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28/3/2023 |
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— |
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| Blue Oddysey International Inc. |
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31/1/2023 |
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Glorieuse |
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38,000 |
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27/3/2023 |
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— |
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| Aquatic Success International Inc. |
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6/9/2023 |
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Aquadisiac |
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51,000 |
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18/2/2024 |
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— |
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| Alpine Hydrocarbons Inc. |
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6/9/2023 |
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Gstaad Grace II |
* |
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113,000 |
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28/2/2024 |
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26/4/2024 |
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| Poseidonas Corporation Inc. |
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20/5/2024 |
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Neptulus |
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33,000 |
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24/8/2024 |
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— |
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| Imperial Petroleum Product Solutions Inc. |
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20/5/2024 |
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Clean Imperial |
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40,000 |
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10/1/2025 |
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— |
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| Artemisia Commodities Inc. |
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13/9/2024 |
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Eco Sikousis |
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82,000 |
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31/5/2025 |
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— |
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| Aurelia World Transports Inc. |
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13/9/2024 |
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Eco Czar |
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82,000 |
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14/6/2025 |
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— |
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| Guinevere Dry Cargoes Inc. |
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13/9/2024 |
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Supra Duke |
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56,000 |
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13/6/2025 |
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— |
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| Edrys Shipments Inc. |
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13/9/2024 |
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Supra Baron |
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56,000 |
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22/6/2025 |
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— |
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| Ophelia Grain Inc. |
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13/9/2024 |
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Supra Sovereign |
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56,000 |
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19/6/2025 |
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— |
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| Laurentia Bulk Inc. |
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13/9/2024 |
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Supra Monarch |
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56,000 |
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23/5/2025 |
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— |
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| Sapphira Wheat Inc. |
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13/9/2024 |
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Supra Pasha |
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56,000 |
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26/4/2025 |
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— |
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| Marvellous Iron Transport Inc.** |
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30/12/2025 |
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— |
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— |
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— |
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— |
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| Ancient Mythology Trading Inc.**** |
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22/12/2025 |
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— |
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— |
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— |
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— |
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| Blackhawk Fire Industries Inc. *** |
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30/12/2025 |
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— |
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— |
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— |
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— |
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| Catharge Transports Inc. **** |
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30/12/2025 |
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— |
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— |
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— |
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— |
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| Out and About Grain and Wheat Inc. **** |
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22/12/2025 |
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— |
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— |
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— |
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— |
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| Panacea Potions Inc. **** |
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22/12/2025 |
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— |
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— |
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— |
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— |
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| Rider Petroleum Products Inc. **** |
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22/12/2025 |
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— |
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— |
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— |
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— |
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* |
The vessel Gstaad Grace II was sold on April 26, 2024 (Note 3) and the vessel owning company became dormant. |
** |
The Post Panamax bulker vessel “Post Marvel” owned by Marvellous Iron Transport Inc. was delivered to the Company on January 12, 2026 (Notes 3, 17) |
*** |
The drybulk carrier vessel “Eco Crossfire” owned by Blackhawk Fire Industries Inc. was delivered to the Company on April 3, 2026 (Notes 3, 17) |
**** |
Companies are associated with the acquisition of four drybulk carriers and one product tanker (Note 3). |
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| Summary of Percentage of Company's Revenues |
During 2023, 2024 and 2025 one, two and two charterers, respectively, accounted for 10% or more of the Company’s revenues.
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Year ended December 31, |
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Charterer |
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A |
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21 |
% |
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— |
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— |
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B |
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— |
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10 |
% |
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19 |
% |
C |
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— |
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11 |
% |
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— |
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D |
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— |
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— |
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12 |
% |
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| Schedule of Distribution of Assets and Liabilities to its Wholly-Owned Subsidiary C3is Inc |
The assets and liabilities of C3is on June 21, 2023, were as follows:
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| Cash and cash equivalents |
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5,000,000 |
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| Trade and other receivables |
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877,202 |
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| Inventories |
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124,813 |
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| Advances and prepayments |
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192,961 |
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| Due from related party |
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188,750 |
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| Vessels, net (after impairment of $8,996,023) |
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28,500,000 |
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| Trade accounts payable |
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816,187 |
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| Accrued and other liabilities |
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357,647 |
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| Deferred income |
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115,940 |
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| Net assets of C3is distributed to stockholders and warrantholders |
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Less investment in preferred shares of C3is issued as part of Spin-off |
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(12,636,000 |
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| Distribution of net assets of C3is to stockholders and warrantholders |
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