Okeanis Eco Tankers is back in the black after what it calls “the worst year ever recorded in tankers”.

“[The company] is returning to free cash flow generation in 2022, continues to commercially outperform its peers and is uniquely positioned to take advantage of the upcycle,” the Alafouzos family-controlled VLCC and suezmax owner told investors.

Chief executive Ioannis Alafouzos said the company is looking at “the best medium-term supply fundamentals for our segment in more than a decade”.