Okeanis Eco Tankers (Okeanis Eco Tankers) Effective Interest Rate on Debt % : 9.14% (As of Mar. 2024)

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What is Okeanis Eco Tankers Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Okeanis Eco Tankers's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was $63.4 Mil. Okeanis Eco Tankers's average total debt for the quarter that ended in Mar. 2024 was $693.5 Mil. Therefore, Okeanis Eco Tankers's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 9.14%.

Okeanis Eco Tankers Effective Interest Rate on Debt % Historical Data

The historical data trend for Okeanis Eco Tankers's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Okeanis Eco Tankers Effective Interest Rate on Debt % Chart

Okeanis Eco Tankers Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

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5.27

4.39

3.84

5.33

8.19

Okeanis Eco Tankers Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															8.01	8.74	8.83	7.21	9.14

Competitive Comparison of Okeanis Eco Tankers's Effective Interest Rate on Debt %

For the Marine Shipping subindustry, Okeanis Eco Tankers's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Okeanis Eco Tankers's Effective Interest Rate on Debt % Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Okeanis Eco Tankers's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Okeanis Eco Tankers's Effective Interest Rate on Debt % falls into.

Okeanis Eco Tankers Effective Interest Rate on Debt % Calculation

Okeanis Eco Tankers's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2022 )	+	Total Debt (A: Dec. 2023 ))	/ count )
=	-1 * -58.681	/	( (739.035	+	693.283)	/ 2 )
=	-1 * -58.681	/	716.159
=	8.19 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	668.236	+	70.799
=	739.035

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	615.334	+	77.949
=	693.283

Okeanis Eco Tankers's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Dec. 2023 )	+	Total Debt (Q: Mar. 2024 ))	/ count )
=	-1 * -63.364	/	( (693.283	+	693.68)	/ 2 )
=	-1 * -63.364	/	693.4815
=	9.14 %

where

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	615.334	+	77.949
=	693.283

	Total Debt (Q: Mar. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	631.342	+	62.338
=	693.68

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Mar. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Okeanis Eco Tankers (NYSE:ECO) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

Okeanis Eco Tankers Effective Interest Rate on Debt % Related Terms

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Okeanis Eco Tankers (Okeanis Eco Tankers) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Okeanis Eco Tankers Corp (NYSE:ECO) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

OETo:Sweden OET:Norway OETo:UK 7OK:Germany 7OK:Germany

Address

Ethnarchou Makariou av, & 2 D. Falireos street, Neo Faliro, Piraeus, GRC, 18547

Website

https://www.okeanisecotankers.com

Okeanis Eco Tankers Corp owns and operates tanker vessels in Greece. The business of the company is to own, charter out, and operate tanker vessels. The company owns, through its vessel-owning subsidiaries, a fleet of around seven tanker vessels and has around eight tanker vessels on order. The sailing fleet consists of around six modern Suezmax tankers, and eight VLCC tankers.