United Maritime Sells LR2 Tanker For $39M

  • United Maritime Corp USEA has entered into a definitive agreement with an unaffiliated third party for the sale of one of its LR2 product tankers.
  • The 2008-built MT Minoansea's gross sale price totals $39 million.
  • The vessel is scheduled to be delivered to its new owner by the end of December 2022.
  • "We are extremely pleased to announce another exceptionally profitable transaction for our shareholders, as the gross sale price of the Minoansea is at a premium of over 100% of the vessel's acquisition price, while the return on equity is estimated at approximately 480%," said CEO Stamatis Tsantanis.
  • Since United Maritime's initial listing six months ago, the company has generated a combined profit from selling the three tankers of approximately $38 million, representing 130% of the company's market capitalization as of December 19, 2022.
  • Upon completion of the sale, the company's fleet will consist of one tanker vessel and one dry bulk vessel with an aggregate cargo carrying capacity of 280,961 dwt.
  • Price Action: USEA shares are trading higher by 8.06% at $4.29 on the last check Tuesday.
  • Photo Via Company
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