C3IS Inc. Enters Agreement to Acquire $16.88 Million Product Tanker from Brave Maritime Affiliate

C3IS Inc. has entered into an agreement to acquire a South Korean-built product tanker with 50,000 dwt capacity for $16.88 million from an entity affiliated with Brave Maritime Corp Inc., which is connected to the Vafias family. The transaction was approved by the company's independent directors who obtained independent valuations and based the purchase price on the average of these valuations. The vessel, built in 2008, is expected to be delivered in the second or third quarter of 2026. The company has the option to pay for the vessel one year after the purchase agreement date without interest. Following this acquisition, C3IS's fleet will total 5 vessels with approximately 263,464 dwt capacity, consisting of three Handysize drybulk carriers, one Aframax oil tanker, and the newly acquired product tanker.