United Maritime Corporation, owned by Stamatis Tsantanis, consolidates its presence as a “pure player” in dry cargo, after the quick and successful venture in the tanker market.
More specifically, the US listed company started a second investment cycle, focusing in medium-sized and larger bulk carriers, while at the same time it completed the sale of the last tanker in its fleet.
“This sale marks the end of a series of successful tanker transactions that generated a profit of 48 million euros, less than a year after the delivery of the first vessel. The funds from the sales have been reinvested in the redevelopment of the fleet,” the president and CEO of United Maritime Corporation, Stamatis Tsantanis, noted following the announcement of the second quarter results.
The listed company agreed to buy two panamax bulk carriers, made in Japan. In total, it has spent 143.6 million dollars on two capes, two kamsarmaxes and three panamaxes.
The company is further strengthening its presence in the dry cargo market amid encouraging signs in the prospects of the sector. “We expect strong dry ton-mile demand to translate into higher freight rates as supply disruptions will normalize over the next few quarters,” Tsantanis noted.
United Maritime Corporation recorded revenues of 10 million dollars in the second quarter of this year and 12.8 million dollars in the first half of this year. The average daily time charter equivalent amounted to 16,072 dollars for the period April-June.
The listed company recorded losses of 3 million euros in the quarter and 7.9 million dollars in the six months. The transition period for the company’s fleet and the sluggish shipping market affected the financial figures of the shipping company.
However, the company has chartered approximately 47% of its available fleet days for the third quarter, with an average daily time charter reaching 19,490 dollars. The total estimated amount for the third quarter is estimated at approximately 15.9803 dollars, given that the charters of the remaining available days of the fleet are linked to the charter market indices.
The company announced a dividend of 0.075 dollar per share for the second quarter, which will be paid on October 6 of this year.
