ICON Icon Energy Corp
Price Chart
Executive Summary
Icon Energy Corp. provided a commercial update announcing it exercised an option to convert the M/V Alfa charter to a fixed hire rate of $18,000/day for the seven-month period from June to December 2026, contributing approximately $3.7 million to estimated minimum contracted revenue. The M/V Bravo and M/V Charlie continue on index-linked charters, blending fixed and floating rate exposure. This is a modest operational update that improves near-term revenue visibility for a micro-cap shipping company but does not represent a transformative event.
Actionable Insight
The fixed-rate conversion provides modest revenue visibility through year-end 2026 for a micro-cap with a $4M market cap. Monitor Baltic Panamax Index trends for impact on the floating-rate Bravo and Charlie charters, which remain exposed to rate volatility. The next quarterly filing will show whether the fixed-rate lock-in meaningfully improves cash flow.
Key Facts
- Icon exercised option to fix M/V Alfa charter at $18,000/day for June–December 2026
- Fixed-rate period adds ~$3.7 million to estimated minimum contracted revenue
- M/V Bravo and M/V Charlie remain on index-linked (floating) charters
- M/V Alfa charter is evergreen with 3-month notice; earliest expiry December 2026
- M/V Charlie charter runs to August–December 2027 with index-linked rate plus fuel cost savings share
Financial Impact
Approximately $3.7 million in additional minimum contracted revenue from the fixed-rate Alfa charter period
Risk Factors
- Floating-rate charters on Bravo and Charlie expose revenue to dry bulk market volatility
- Micro-cap liquidity risk; limited fleet of three vessels concentrates operational risk
- Evergreen charters on Alfa and Bravo can be terminated on 3 months' notice
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001140361-26-023818 |
| Document: ef20075284_6k.htm | 0001140361-26-023818 |
| Document: 0001140361-26-023818-index-headers.html | 0001140361-26-023818 |
| Document: 0001140361-26-023818-index.html | 0001140361-26-023818 |
| Document: 0001140361-26-023818.txt | 0001140361-26-023818 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 9, 2026
3d ago
|
6-K
| $0.9910 awaiting T+1 | awaiting T+1 | — | $0.9350 (+5.65%) |
|
Jun 3, 2026
9d ago
|
6-K
| $1.11 $1.13 | ▲ +1.80% | ▲ +1.40% | $0.9350 (−15.77%) |
|
Mar 16, 2026
12w ago
|
EFFECT
| $1.14 $1.09 | ▼ −4.39% | ▼ −4.66% | $0.9350 (−17.98%) |
|
Mar 6, 2026
14w ago
|
F-1
| $1.15 $1.19 | ▼ −3.48% | ▼ −3.66% | $0.9350 (+18.70%) |
US Market Status
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