C3is is a small Marshall Islands-incorporated shipping company that owns and operates a fleet of drybulk carriers and tankers, providing international seaborne transportation services. C3is was spun off from Imperial Petroleum in June 2023. As of early 2026, C3is operates three Handysize drybulk carriers (~32,000-33,664 dwt each) and one Aframax crude oil tanker (~115,804 dwt), with two MR product tankers (~47,000-50,760 dwt each) being added to the fleet in Q2-Q3 2026. C3is charters its vessels to commodity producers, traders, and oil companies under two structures: time charters, which provide fixed daily rates and predictable cash flow, and spot/voyage charters, which offer more variable revenue tied to market rates. The Aframax tanker is the primary earnings driver, trading in the spot market where rates have been elevated due to geopolitical disruptions. The three Handysize drybulkers operate on short-duration time charters and contribute steadier but more modest earnings. C3is outsources all commercial and technical management to Brave Maritime, an Athens-based affiliated ship manager, keeping direct overhead low. The company carries no bank debt, having financed vessel acquisitions through affiliated-party seller financing and equity issuances. C3is pursues opportunistic fleet growth, explicitly targeting Japanese- and Korean-built vessels while avoiding Chinese-built ships, and aims to exploit shipping market cyclicality through opportunistic vessel buying and selling.