Icon Energy Corp.
- Market Cap (Float-Adj) (Float-adjusted market cap computed by the low-float screener — matches the screener row. May differ from the standard cap (price × all shares outstanding) reported elsewhere.)
- $3.2M
- Price
- $0.885
- % Change (Daily % change from the live per-ticker quote feed.)
- -4.84%
- Volume
- 11.2K
About
Icon Energy Corp., a shipping firm founded in 2023, is headquartered in Athens, Greece. As a subsidiary of Atlantis Holding Corp., it specializes in the worldwide marine transport of dry bulk commodities. The company's operational fleet comprises two deep-sea vessels: a Panamax dry bulk carrier with an approximate capacity of 77,326 deadweight tons (dwt), and a Kamsarmax vessel capable of hauling around 81,448 dwt. Icon Energy Corp. offers its services to a diverse clientele, including dry bulk operators, commodity trading enterprises, and ultimate end-users of these goods.
Quick stats
Shares outstanding3.6M
Computed float3.1M
Float / shares85.7%
Cash runway (months)23.5
Key info
SectorIndustrials
IndustryMarine Shipping
CIK (Central Index Key — the unique ID the SEC assigns to every filer. Use it to look up the company's filings on EDGAR.)0001995574
Websitehttps://www.icon-nrg.com
AI Summary
AI-generated1/10
standardbullishoperations update
Icon Energy Corp. Provides Commercial Update
Icon Energy expects Q3 2026 gross hire across its three-vessel dry bulk fleet to average roughly $19,000 per vessel per day, a 23% increase from about $15,500 in the same quarter last year, with 100% vessel utilization achieved so far this quarter.
Minimum Contracted Revenue from the current charter book is estimated at approximately $11 million. The M/V Alfa is fixed at $18,000 per day through December 2026, while the M/V Bravo and M/V Charlie earn index-linked hire, blending cash flow visibility with market upside.
With all drydockings completed between December 2025 and June 2026, Icon expects no scheduled downtime or related capex until Q2 2029, positioning the fleet for a dry bulk market where the Baltic Dry Index has climbed to its highest level since December 2023.
Icon also disclosed a 4.6% equity co-investment in a 2,000 TEU geared container feeder chartered to an investment-grade liner operator at a fixed $26,500 per day, expiring June 2028 at the earliest.
Red flags
- fleet concentration: only three vessels, so any single off-hire event materially hits revenue
- two of three charters earn index-linked floating rates, exposing earnings to a dry bulk rate reversal from current cycle highs
- Bravo charter is evergreen and cancellable by the charterer on three months' notice
- Baltic Dry Index at highest level since December 2023 raises cyclical-peak risk embedded in the outlook