# Stainless Tankers ASA 1Q26 Earnings Release (06 May 2026)

- Press release: STST: Stainless Tankers announces financial results for the three months ended March 31, 2026, Chairman and CEO change. (2026-05-06)
- Original: https://storage.mfn.se/c/aHR0cHM6Ly9hcGkzLm9zbG8ub3Nsb2JvcnMubm8vdjEvbmV3c3JlYWRlci9hdHRhY2htZW50P21lc3NhZ2VJZD02NzI0NDkmYXR0YWNobWVudElkPTMyNTAzOA/stainless-tankers-asa-1q26-earnings-release-06-may-2026.pdf?news-id=ec282b5a-90c9-5033-b8f6-cd7d5379ae33
- Local copy: `data/documents/STST.OL/attachments/2026-05-06_stainless-tankers-asa-1q26-earnings-rele.pdf`

**TL;DR —** Stainless Tankers reported a near break-even Q1 2026 with a net loss of $0.06 million on increased revenue, strong TCE rate growth, and announced significant leadership changes including a new Chairman and CEO.

## Takeaways
- Net loss of $0.06 million on net revenue of $8.0 million in Q1 2026.
- Average pool net TCE rate increased to $16,373/day, with April projected at ~$18,800/day and May >$25,000/day.
- The company held $2.0 million in unrestricted cash and had a net outstanding loan balance of $37.1 million as of March 31, 2026.
- Fleet market value stood at $98.8 million, resulting in a NAV of $4.71/share.
- A Q1 2026 dividend of $0.135/share was declared, representing an annualized yield of ~11.5%.
- Ted Kalborg will step down as Chairman, with Andrew Hampson proposed as his successor, and Nicolas Tirogalas will replace Andrew Hampson as CEO.

*Generated 2026-08-30 via google/gemini-2.5-flash*