Global supply chain issues have made many more people aware of the interconnected nature of today’s world. The basic functioning of the economy relies on an incredibly intricate system of moving materials and goods from one place to another. As has been true for most of human history, the easiest way to do this at scale is over water.

Shipping companies like Kirby Corp. (NYSE:KEX) or Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) are parts of the essential maritime glue that holds the world of trade and logistics together. 

Recently, the invasion of Ukraine caused a further shock to the global supply chain, specifically in regard to oil. Oil prices have skyrocketed, and demand for efficient ways to transport it around the world has reportedly led to incredible revenues for companies that operate oil tankers.

The purchase includes two so-called aframax vessels — a rating that indicates its size and carrying capacity — and two similarly sized LR2 ships. Aframax ships are reportedly in high demand because of their ability to carry large quantities of oil while remaining small enough to fit in all types of ports. Larger ships are often too large to service many cities or fit in certain canals. The company says this makes them the Swiss Army Knife of tankers.

After the invasion of Ukraine, Aframax vessels have brought in eye-popping daily earnings. Today, they pull in almost $50,000 per day. This is compared to $10,000 per day in January. It seems that United Maritime may have entered the market at just about the right time.

If you are interested in learning more, check out https://www.unitedmaritime.gr/en.

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Featured photo by Chris Pagan on Unsplash