A member of Okeanis Eco Tankers’ controlling family has handed a chunk of his stock to relatives as a gift.
A filing to the Oslo bourse reveals that Themistoklis Alafouzos’ Hospitality Assets Corp transferred 556,500 shares to unnamed members of his family on Wednesday.
Described as an adviser to the New York and Oslo-listed VLCC and suezmax company, Themistoklis is the brother of founder and chairman Ioannis Alafouzos.
The shares are worth NOK 147m ($13.2m) at the current price of NOK 264 per share in Oslo on Thursday.
The donated stock comprised 100% of the share capital in Sea Shell Enterprises.
Following the transaction, Themistoklis Alafouzos will still own 6.65m shares, a holding of 20.6% in Okeanis.
The tanker company has a market cap of NOK 8.7bn.
Okeanis has been contacted for further information.
Meanwhile, chief financial officer Iraklis Sbarounis bought 2,110 more shares in New York at $23.25 each, and 125 shares in Oslo at NOK 259.
He now has 8,470 shares.
The share price rise has risen even though Okeanis announced its smallest profit in nine quarters this week.
It was hurt by weaker revenues from its eight VLCCs and costs for special surveys it chose to carry out during the seasonally slow third quarter.
The owner of 14 large modern tankers posted net income of $14.6m in the three months to September, down 25% from the same period of 2023.
The VLCCs’ average time charter equivalent revenue dropped to $43,100 per day from $57,900 per day a year earlier.
