GLYFADA,
Acquisition of Two Kamsarmax Dry Bulk Vessels
The first vessel was built in 2009 at Universal Shipbuilding in
The second vessel was built in 2010 at Tsuneishi Zhoushan Shipbuilding, has a cargo-carrying capacity of 82,217 dwt and shall be renamed M/V Oasea. The vessel is expected to be delivered to United by
The Company expects to fund the combined purchase price of
Bareboat Charter Agreement with a Purchase Option
The Company entered into an eighteen-month, bareboat charter agreement with an unaffiliated third party for a 2013-built Japanese Panamax dry-bulk vessel of 78,173 dwt. Pursuant to the terms of the bareboat charter, United has advanced a down payment of
“Following our recent highly-profitable sale of three of our tankers, we are further expanding United’s fleet with the addition of these three vessels, an investment of approximately
Our total recent investment in dry bulk will exceed
Notwithstanding the seasonal softening of the dry bulk market, the outlook remains strong, supported by all-time low orderbook and the gradually improving global economy. Therefore, these transactions are consistent with our diversified business model, focused on attractive opportunities in sectors with strong fundamentals and upside potential.”
Other Fleet Updates
On
About
Upon completion of the aforementioned transactions and the previously announced acquisition of the M/V Tradership, the Company's operating fleet will consist of 7 vessels (1 LR2 tanker, 3 Capesize, 2 Kamsarmax, 1 Panamax), with an aggregate cargo carrying capacity of 877,320 dwt.
The Company is incorporated under the laws of the Republic of the
Please visit the Company’s website at: www.unitedmaritime.gr.
Forward-Looking Statements
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events. Words such as "may", "should", "expects", "intends", "plans", "believes", "anticipates", "hopes", "estimates" and variations of such words and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; the impact of changes in regulatory requirements or actions taken by regulatory authorities on the Company's operating or financial results; the Company's financial condition and liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; increased operating costs associated with vessel aging; vessel damage; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital spending or operating expenses; dependence on affiliates of the Company’s former parent and third-party managers to operate the Company’s business; availability of crew, number of off-hire days, classification survey requirements and insurance costs; changes in the Company’s relationships with contract counterparties; potential liability from future litigation and incidents involving the Company’s vessels; broader market impacts arising from war (or threatened war) or international hostilities, such as between
For further information please contact:
United Investor Relations
Tel: +30 213 0181 522
E-mail: ir@usea.gr
Capital Link, Inc.
Paul Lampoutis
230 Park Avenue Suite 1540
Tel: (212) 661-7566
E-mail: usea@capitallink.com
Source:
2023 GlobeNewswire, Inc., source