June 2026 update

Apologies for the delay on this one. Good news is it was a good month, I was playing regularly and it shows across the board. After May's half-absent stretch, it's a relief to post numbers that reflect consistent effort rather than inertia. 

                          

The Numbers

• Total sales: 44 billion ISK
• Capital ships sold: 9
• Freighters sold: 2
• Battleships sold: 13
• T2 modules sold: 1,594
• PI sold: 1.7 billion ISK

Second Super Batch

I launched the second super batch this month: 30 freighters and industrial ships in one go. These were manufactured temporarily in a nearby rigged Azbel rather than my usual setup, since I needed the material bonus to keep the batch economical at that scale. That's also why anyone tracking my industry job counts or material inventory will see numbers that look inflated for the period, it's just where the production physically happened this cycle.

Most of this batch will move through Amarr, which remains my main market, with a smaller share going to Jita and Dodixie. I haven't pushed volume into those two markets in a while.

T2 Carriers: Still Deciding

I started a project to manufacture 2 T2 carriers this month. The T1 hulls are done and sitting in storage, but when I ran the numbers on taking them further into T2, the margin came unsatisfactory. That's frustrating given the material and slot investment involved in a carrier build, so before I commit more resources I want to rerun the calculation properly, checking current component prices.

If the numbers still don't work, this isn't a loss. The T1 hulls are already profitable as they are, so worst case I just sell them outright.

Second Account: Slow but Useful

As mentioned before, I bought a second account this month, the one built from my old mining corp characters. They're still a few weeks of training away from being able to manufacture most of what my main pipeline needs, so I'm not counting on them for T2 or capital output yet.

Where they're already earning their keep is reactions. The extra slots they bring let me run jobs that would otherwise sit queued on the main account, which has a direct knock on effect on how consistently I can feed T2 and capital production. It's a slow ramp, but the early signs are exactly what I hoped for when I decided to activate this account instead of starting from scratch.

Azbel Project

The Azbel project keeps getting harder to postpone, a permanent 2% material efficiency gain would translate into real ISK every single month. I can afford the investment now, which is exactly why I don't want to be reckless with it. I still don't trust public Azbels for anything beyond short term.

Invention

BPC reserves of my favorite modules are starting to thin out after months of running the pipeline hard without much fresh invention activity. I'm launching a new invention batch now specifically to stay ahead of this, rather than waiting until it actually creates a gap in manufacturing. Better to spend a few slots on it now than to find a module or component idle later because I ran out of blueprints to build against.

Reactions

This is where the second account is making the clearest difference so far, more than 20 new reaction slots added, and they're already in active use. I'm currently mixing alchemy chains with regular composite reactions to build up the material base for the next capitals batch, leaning on alchemy where the flexibility helps and composite where I need the straightforward yield.

With reaction capacity now meaningfully higher across both accounts, this side of the operation is starting to look less like a support function and more like a real profit center on its own.

Looking Ahead

Next up is finalizing the T2 carrier decision, if the reworked numbers show a real margin, I'll push forward, otherwise the T1 hulls go straight to sale. Alongside that, I'm planning a new capitals batch of 7 or 8 ships to keep that pipeline moving. T2 module production continues in parallel, restocking Amarr remains the priority there. The Azbel decision is close, and I expect the second account to start contributing more directly to manufacturing, not just reactions, as training progresses over the coming weeks.

The capitals manufacturing expansion to a new location is still there, Basgerin will be the chosen system, I need to wait for the second account to be able to manufacture capital parts before relocating the characters there, I will definitely inject SP on them to accelerate the training.

Mission failed successfully

 

Regional trading has always had a reputation as the most lucrative way to make ISK in New Eden. I can't really argue with that, most of the trillionaires I see got there moving goods between hubs, not building them. So a few weeks ago, I decided to become a trader.

I did what any reasonably paranoid industrialist does before committing ISK: I over-prepared. Many  YouTube videos on regional trading fundamentals. I went back through some of the longest running blogs in the space, Croda's blog among them, looking for the patterns. I subscribed to EVE Trade Guru, the 1B ISK subscription, and started digging through Discord servers dedicated entirely to arbitrage and hauling routes, trying to absorb whatever tips and tricks I could find.

Armed with all of that, I ran the numbers through EVE Trade Guru and picked two routes to start: Jita to Amarr, and Jita to Dodixie. Classic hub to hub arbitrage. I checked prices, checked volumes, checked transport costs and travel times, checked competition on both ends. On paper, it looked solid.

And then... nothing happened. Just a slow, grinding routine of updating sell orders, watching margins shrink every single day, and telling myself it would pick up.

That's when it clicked for me: regional trading is a game of quantity. Whoever holds the most sell orders wins, wins the visibility, wins the volume. My single account with a modest stack of orders just doesn't move the needle when competing against traders running many characters. There was no room to maneuver, and worse, no real way to correct a bad position once you were in it. You just sat there, watching it bleeds out slowly, or cancel it and swallow your pride.

The deeper issue was capital allocation, and this is the part that was unpleasant for me on the whole venture. To trade seriously, you need to be comfortable locking up 90 to 95% of your net worth in buy and sell orders at any given time. That's fine if you're a trader, your capital is your inventory. But it's a completely different mentality from industry.

As an industrialist, I never want to sit below roughly 30% liquid ISK, low Isk for an industrialist triggers emergency, I need that buffer to launch the next production batch, to react when a material spikes or a market I depend on shifts overnight, or to snap up cheap minerals and components when a good deal. Cash is king in manufacturing in a way it just isn't in trading. Locking 95% of my wallet into standing orders would mean my actual production, the reactions, the T2 lines, the capital parts, grinds to a halt the moment I need liquidity and don't have it.

I know, in the end, every industrialist is also a trader of sorts, we all must sell what we make somewhere. But engaging with the market as your core loop is a fundamentally different discipline than engaging with it to offload finished goods.

From my admittedly short and bruising experience, I think that (I stand corrected) a trader needs to think like a manager: zoomed out, tracking macro trends across regions, comfortable with thin margins at massive scale, and unbothered by capital sitting still and working slowly. An industrialist needs to be more technical, closer to the numbers, closer to the production chain, thinking in terms of input costs, reaction yields, and build efficiency rather than regional arbitrage spreads.

I'm not saying regional trading is a bad business, clearly it isn't, given how many people have built empires on it. But it's just not my business.

In the end I want to thank Ray Zolo from Eve Guru, who helped me in cancelling and refunding my 1 billion subscription despite consuming about 10 days of the month, he was very generous.

Finally a second account

After several months of operating with a single account, it's time to add another one. I couldn't resist the PLEX and Omega offers that were available, adding that account was inevitable anyway, as I found myself out of slots many times, especially reactions. Like I mentioned before, my T2 production just can't keep up most of the time. I was barely selling in Jita. Amarr has stayed my primary market since the beginning, and Jita is mainly for material acquisition.

There's still a long way to go before the characters in the new account can move the needle. This isn't really a new account, it's one of my previous Omega accounts from when I was in a mining corp, which went Alpha after I started my solo venture. All the characters have around 5 million SP, but they still have slots. Overall, I immediately added about 15 slots of reactions and industry. It's true they can't manufacture any profitable T2 items yet, but the immediate impact is in the extra reaction slots.

I'm now fully adopting the alchemy method into the pipeline, its downside of yielding fewer intermediate materials per 24h run will be offset by these extra reaction slots.

For industry, I'll train these characters to act as assistants to the main account's characters. They'll accelerate the fielding of capital ships in Huola or support the extension to a second base of operations, most likely in the Basgerin system, where a new industrial hub has emerged over the past few weeks.

I'm confident this new account could easily push my monthly profits above 6 or 7 billion, as the markets seem to be in constant need of what I usually manufacture. The fact that I can't keep Amarr stocked properly means I need to produce more. The expected increase in profits (I hope) will support installing my own engineering complex, to reduce manufacturing time and lower material requirements a bit. While I can afford it now, I just can't afford to lose it, maybe I'll go for an Azbel, since I just can't trust the public ones.

Also, the reactions market seems deep, with huge quantities traded daily. With 60 slots, reaction materials could become one of my main sources of profit.

 

 

May 2026 update

Between RL obligations, a well-deserved Eid vacation to the Sultanate of Oman (a genuinely beautiful country, by the way — highly recommended), and an overall lack of motivation for the first week, I was absent for roughly half the month. The operation ran slow, inefficient, and full of mistakes. The numbers reflect that, and I'm not going to pretend otherwise.                      

                            

 

The Numbers

• T2 modules sold: 1,405
• Capital ships sold: 8

For context, April closed at 2,979 T2 modules. May is less than half of that. There's no deeper mystery here — I simply wasn't playing. The industry slots were idle, and I was stuck manufacturing only 2 types of modules for a significant portion of the month. No rotation, no restocking logic, just inertia.

On the capitals side, 8 ships sold is actually close to normal. I launched 7 new ships into production this month, which matches the typical monthly rhythm I've settled into. Capitals are slow movers and the market doesn't absorb volume consistently, so this number is acceptable given the circumstances.

Invention was not a priority this month, and honestly it doesn't need to be for a while. I currently have over 6,000 T2 BPCs waiting in the queue. That's not a bottleneck. that's runway. The focus needs to shift entirely toward manufacturing execution and supply chain feeding, not generating more blueprints that will sit in a container.

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Reactions: Discovering Alchemy

This is the one genuinely exciting development from May.

I stumbled onto Alchemy reactions, the mechanic where you react for unrefined versions of intermediate materials, then reprocess the output to get the "pure" version, supplemented by additional R16 or R32 materials like Mercury or Hafnium. The yield is good, the supply flexibility it opens up is significant.

Right now I am spamming Unrefined Platinum Technite and Unrefined Neo Mercurite to feed my Nanotransistor production. Nanotransistors have been my main bottleneck for T2 manufacturing for months, they are the component that keeps my industry slots empty when everything else is stocked. Alchemy is looking like the solution I didn't know I was waiting for.

I won't go into full detail here, this topic deserves its own dedicated post. But if you're running T2 manufacturing and hitting supply walls on advanced components, I strongly encourage you to look closely at alchemy reactions. The mechanic is underrated I think.

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The Supply Chain Problem and Its solution: EVEFORGE.ORG

I've been saying for months that my supply chain is inefficient and messy. That's still true. But something changed this month — I found what looks like the actual solution, and it is called EVEFORGE.ORG.

I see it as the most complete tool I ever used for industry and markets, the creator calls it an "EVE ERP," and that label alone should tell you something about the ambition behind it. Many functions and tools are included in this website that help any industrialist / trader to have a complete view of the situation, with many other tools for market analysis, I don't want to spoil it here. I'll write a proper dedicated post when I've used it long enough to give it the analysis it deserves.

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Capitals: Time to Think Bigger

One thought that's been forming this month is that staying anchored to Huola as the only capital sales point is an artificial ceiling.

I'm currently capped at roughly 7 capital ships per month not because of manufacturing capacity, but because that's what the local market absorbs. The real capacity of my operation is far higher — all three characters can build capitals, a full batch takes about 2 weeks in the rigged Sotiyo, and theoretically I could push toward 60 capitals per month if the sales infrastructure supported it.

The obvious expansion candidates are Tama and Ignoitton, along with some other systems with near perfect industrial hub. The challenge is operational. Sending a character to a new system means they become isolated. He should able to handle the manufacturing jobs alone there in a reasonable time, And jumping through 40+ stargates is not a hobby for me, clone jumps help but they're not always a clean solution.

This needs careful planning before any move is made. But the thinking is there, and the capacity argument is hard to ignore.

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Looking Ahead

May is done and I'm not proud of it, but it was expected. The second half of the month I was genuinely away from the game, and there's nothing wrong with that. The vacation was worth it.

What matters now is June execution. The alchemy reactions need to be fully integrated into the supply pipeline. The EVEFORGE.ORG onboarding needs to happen properly. And the T2 module rotation needs to go back to a full lineup instead of the 2-module trap I fell into.

The structure is there. The capacity is there. What May lacked was simply presence.

 

 

Financial analysis for 6 months of activity

This is what I get when I asked Claude AI to do a financial analysis of my activity after completing 6 months, the only source of data was simply my blog, the AI read the posts and came out with the below document, it is about having a birds eye view on what have been achieved and at what point the activity is now, despite having some inconsistent data and weird numbers, the overall analysis is quite informative, lets see what looks like my activity in the past 6 months:

 

 

April 2026 update

 This month is all about contrast. On one side, I hit 46.7 billion ISK in sales, which is a record for this operation. On the other, net worth only increased by 4.5 billion ISK (+4.64%), High sales, low growth… not something you expect at first glance.

The explanation is quite simple. A big portion of the sales came from combat capital ships sold through contracts, and these were already profitable last month when they were built. April was more about converting those assets into ISK than generating value. In total, I sold 7 combat capital ships, 1 freighter, and 2,979 T2 modules, which is another record on the T2 side.

Capitals sales were very strong at the beginning of the month, but that momentum didn’t last. The slowdown is now clearly visible, and I’m currently sitting on 10 capital ships in stock out of the 21 manufactured last month. This confirms what I was starting to feel: capital ships are slow movers, and the market cannot absorb volume consistently. It’s a business that requires patience and ISK buffer.

Because of that, April turned into a full T2 manufacturing month. No capitals were built, and all the effort went into modules. This is where the real growth came from. T2 sales were not only strong in volume, but they were also the main contributor to net worth increase this month.

I also experimented with regional trading during April, and that attempt failed quite badly. It quickly became inefficient and unprofitable. I’ll go into more detail in a separate post.

On the operational side, I decided to move my T2 base of operations again near Amarr to reduce manufacturing and logistics costs. The good thing here is that I’m struggling to feed the markets with T2 modules even with continuous production, I barely keep Amarr stocked, with a rare presence in Jita and total absence in Dodixie, It really highlights how large the T2 market is if approached correctly, and there is clearly room for expansion.

That being said, my T2 operation is still far from efficient. The biggest issue remains the supply chain management. Restocking is slow and inconsistent, and I often find myself missing one or two key components, leaving industry slots idle. I need a proper system to track materials and anticipate restocking in a more structured way.

Another limitation is time and account capacity. Running everything on a single account, with roughly one hour of playtime per day, puts a hard cap on output. With my current setup and blueprint runs, I can produce around 7,500 medium T2 modules per month (30 slots x 10 runs per BPC x 25 days of production), which translates to roughly 7 to 12 billion ISK in profit. Going beyond that will almost certainly require a second account.

Reactions are also not aligned with what I’m currently doing. I have a large stock of composite reactions that are mainly useful for capital production. While this gives me a comfortable buffer for future capital build, it doesn’t help the current T2 pipeline. Adding reaction jobs to the T2 pipeline will significantly increase the profit. A restructuring of the reactions chain is needed if I want to support module production properly.

On the invention side, activity was quite strong. I now have hundreds of T2 BPCs ready for production, but the distribution is not ideal. Some items are overstocked while others are lacking. This is something that needs attention going forward to keep production smooth.

Looking ahead, I’m not abandoning capitals, but I will approach them more cautiously. I’m considering going back to freighter manufacturing, but the market needs to be reassessed first. Prices are currently low, margins still exist, but they are tighter, and I want to make sure the opportunity is worth the investment before committing again.

Overall, April was not really a growth month, but more of a transition month. Record sales, record T2 volume, but also clear signs of structural limits and inefficiencies. The operation is reaching a point where better systems, and possibly additional accounts are needed to keep scaling.

Managing my logistics

Moving stuff around is one of the most important yet time-consuming activities in EVE Online. I believe the success of any industrial operation relies on the efficiency of how logistics are organized.

I think a logistics system should react quickly to any requirement or change in the field, while simultaneously dealing with all factors surrounding its mission. These factors include cargo size, cargo value, trip length, and ganking risks; everything should be planned ahead of undocking the hauler.

 

 

Here I am sharing my logistics model and how I manage hauling between different locations. Don’t be fooled by the dots moving in one direction (thanks to Claude AI for letting me down during the creation of the infographic); all the connections between stations are actually bidirectional.

The first factor I prioritize is flexibility. Each production station (Capitals and T2) has its own runner, DST (Deep Space Transport), and freighter. This allows me to use the adequate ship for each run depending on the size and importance of the cargo.

The low-sec Sotiyo is served by a hauling service due to the high risk. When launching a capital manufacturing campaign, I import raw materials from Jita or Amarr using this service, which delivers them to the Sotiyo. I then use my own freighter to transport compressed ores and moon materials to the Tatara. After refining, I use the freighter again to move the minerals back to the Sotiyo for manufacturing. It is a big investment for a ship that is only used twice a month, but the gain in efficiency is astronomical. After all, I might use this freighter to manufacture its relevant Jump Freighter.

For the high-sec T2 manufacturing operation, it is quite straightforward. Usually, a DST is enough to feed the station with raw materials for T2 modules runs, but when manufacturing Capitals in high-sec, a freighter becomes a must-have. The runner is used for last minute shopping and for moving final products to Amarr or Jita through the mighty Ahbazon system.

I believe my model is not flawless. It has worked until now, but I need to keep an eye on efficiency, especially if I want to scale my production.

 

Unpopular Opinion: Industrial success can comes from ignoring diversification

Every time you open a forum thread or hop into an industry Discord, you'll hear the same advice delivered with full confidence: diversify your production portfolio. It sounds reasonable, but it wasn't the case for me.

The argument for diversification sounds rational on paper: if one market segment tanks, your other lines carry you. The problem is that EVE's industrial game is not a passive index fund. It's an active, information-dense environment where knowing your market matters more than covering every market.

When you spread across many items, you dilute something precious that doesn't scale the way capital does: your attention…

Managing multiple productions across unfamiliar markets means constant micro-decisions on what's moving, what isn't, whether that margin shift is a trend or just noise. That cognitive load accumulates. EVE industry is already a game of spreadsheets and logistics chains, and when you're operating in markets you don't fully understand, every decision carries more uncertainty and more second-guessing. That's a direct path to decision fatigue, and decision fatigue in a market game lead to a creeping feeling that the whole operation isn't worth the effort. Staying in markets you know doesn't just protect your wallet, it protects your motivation to log in tomorrow.

There's a principle that quietly validates this entire argument: the Pareto Law, the 80/20 rule. In most markets, 80% of your profits will come from roughly 20% of what you produce. The instinct to diversify pushes you in the opposite direction, which is precisely how you dilute the 20% that was already working for you. When I look back at my production history, the pattern is obvious: a handful of modules and ships I knew well were responsible for the bulk of my ISK. The diversification experiment didn't add new entries to that golden list, it just added noise and regret.

If you remember my previous post "Heavy Industry Saves the Day," I mentioned that returning to what I know best  “freighter manufacturing” shifted the entire month's results back into positive territory. Around the same time, I began my T2 mass production venture, and today I run a focused golden list of just six or seven items that I mass produce. I'm now capturing 10% of the market share of one of those T2 modules in Amarr.

Adding a new segment to your business should never come at the expense of established ones. When it comes to expanding, I recommend evaluating new modules against three simple metrics: unit size, unit profit, and daily volume. Healthy values across all three can help you uncover the right items to introduce into your operation without compromising what's already working.