United Maritime Corporation, a NASDAQ-listed company, announced on Tuesday that it has entered into an agreement with an unrelated third party for the sale of its oldest Capesize vessel.
The vessel is the 2004-built 171,314 dwt M/V Gloriuship. The vessel is expected to be delivered to its new owners in mid-July 2025, for a total net sale price of approximately 15.0 million dollars.
“We are pleased to announce the timely sale of our oldest Capesize bulker, at a significant premium over its fair value. The net proceeds from the sale, after the repayment of existing debt, will increase the company’s cash reserves by approximately 7.0 million,” said Stamatis Tsantanis, president and CEO of the company.
The company’s board of directors also approved an expansion of its existing 3.0-million-dollar share repurchase plan. United Maritime Corporation (USEA) shares rose more than 3% in pre-market trading.
Finally, United Maritime announced the successful integration of MV Synthesea into the DeepSea Technologies platform, further enhancing the technology’s use of AI across its fleet.
