Aframax

TEN Ltd. Announces Completion of Viken Fleet Acquisition and Sale of Aframax Tanker and LNG Carrier

Retrieved on: 
Lunedì, Giugno 3, 2024
Acquisition, Aframax, TNP, Steam

ATHENS, Greece, June 03, 2024 (GLOBE NEWSWIRE) -- TEN, Ltd (NYSE: TNP) (the “Company”) announces the completion of the Viken Crude AS acquisition with the delivery of a 2019-built scrubber fitted 1A Ice-Class Aframax tanker. Concurrently the Company has sold a 2008-built Aframax and a 2007-built Steam Turbine LNG carrier to third party interests. From these sales, the Company has generated an additional $100 million in free cash.

Key Points: 
  • ATHENS, Greece, June 03, 2024 (GLOBE NEWSWIRE) -- TEN, Ltd (NYSE: TNP) (the “Company”) announces the completion of the Viken Crude AS acquisition with the delivery of a 2019-built scrubber fitted 1A Ice-Class Aframax tanker.
  • Concurrently the Company has sold a 2008-built Aframax and a 2007-built Steam Turbine LNG carrier to third party interests.
  • Since the beginning of 2023, TEN has sold 13 vessels totaling 1.1 million dwt averaging about 18.5 years.
  • The above transaction significantly increases the Company’s size and dwt capacity and drastically modernizes the fleet.

Performance Shipping Inc. Reports Solid Financial Results for the First Quarter Ended March 31, 2024

Retrieved on: 
Giovedì, Maggio 30, 2024
OECD, Sale, Aframax, Growth, Tanker, TCE, Shipbuilding, Security (finance)

The 2024 first quarter results compared to a net income of $15.7 million and net income attributable to common stockholders of $4.6 million for the same period in 2023.

Key Points: 
  • The 2024 first quarter results compared to a net income of $15.7 million and net income attributable to common stockholders of $4.6 million for the same period in 2023.
  • Earnings per share, basic and diluted, for the first quarter of 2024 were $0.89 and $0.29, respectively.
  • Fleetwide, the average TCE rate for the first quarter of 2024 was $33,857, compared with an average rate of $41,157 for the same period in 2023.
  • During the first quarter of 2024, net cash provided by operating activities was $17.3 million, compared with net cash provided by operating activities of $18.7 million for the first quarter of 2023.

TEN Ltd. Announces Delivery of Six Environmentally Friendly Vessels Since the Beginning of 2024

Retrieved on: 
Giovedì, Maggio 16, 2024
TNP, Aframax

ATHENS, Greece, May 16, 2024 (GLOBE NEWSWIRE) -- TEN, Ltd (NYSE: TNP) (the “Company”) announces that following the delivery of three vessels since the beginning of 2024, the Dual-Fuel LNG LR2 product tankers “Ithaki DF”, “Chios DF” and “DF Montmartre”, three more vessels have recently joined the fleet and consist of the 2023-built Dual-Fuel LNG LR2 product tanker “DF Mystras”, the 2018-built scrubber fitted 1A Ice Class, Aframax “Alpes”and the 2018-built Super Eco Suezmax, “Poppy S” which was delivered on May 14, 2024. An additional seventh vessel, the 2019-built scrubber fitted 1A Ice Class, Aframax “Aspen”, will be delivered by the end of May upon completion of its special survey currently performed by her present owners.

Key Points: 
  • An additional seventh vessel, the 2019-built scrubber fitted 1A Ice Class, Aframax “Aspen”, will be delivered by the end of May upon completion of its special survey currently performed by her present owners.
  • All these vessels are employed on time-charter contracts with profit-sharing provisions, with expected minimum gross revenues in excess of $200 million.
  • “We welcome these environmentally friendly tankers in TEN which bring us closer to our goal for a full “green” fleet by 2030.
  • "Our “green ship” initiative continues with eight more vessels currently under construction to join our fleet from next year,” Mr. Saroglou concluded.

Imperial Petroleum Inc. Reports First Quarter 2024 Financial and Operating Results

Retrieved on: 
Giovedì, Maggio 16, 2024
Transport, Net income, Interest, IMPP, Calendar, Sale, Dry dock, EPS, Aframax, Depreciation

ATHENS, Greece, May 16, 2024 (GLOBE NEWSWIRE) -- IMPERIAL PETROLEUM INC. (NASDAQ: IMPP, the “Company”), a ship-owning company providing petroleum products, crude oil and drybulk seaborne transportation services, announced today its unaudited financial and operating results for the three months ended March 31, 2024.

Key Points: 
  • ATHENS, Greece, May 16, 2024 (GLOBE NEWSWIRE) -- IMPERIAL PETROLEUM INC. (NASDAQ: IMPP, the “Company”), a ship-owning company providing petroleum products, crude oil and drybulk seaborne transportation services, announced today its unaudited financial and operating results for the three months ended March 31, 2024.
  • On April 17, 2024, we agreed to sell our 2009 built aframax tanker Gstaad Grace II for $42 million.
  • Drydocking costs for the three months ended March 31, 2024 and 2023 were $0.6 million and $0.6 million, respectively.
  • EBITDA for the three months ended March 31, 2024 amounted to $18.9 million, while Adjusted EBITDA for the three months ended March 31, 2024 amounted to $19.8 million.

C3is Inc. Announces Closing of $6.0 Million Underwritten Public Offering

Retrieved on: 
Martedì, Marzo 19, 2024
Indian stock exchange, Aegis, Form, Telephone, CISS, Warrant, Class, Sale, Transport, Public expenditure, Attention, Prospectus, Aframax, Security (finance)

The purchase price of each Common Unit was $0.05, and the purchase price of each Pre-Funded Unit was $0.04 (which is equal to the public offering price per Common Unit minus $0.01).

Key Points: 
  • The purchase price of each Common Unit was $0.05, and the purchase price of each Pre-Funded Unit was $0.04 (which is equal to the public offering price per Common Unit minus $0.01).
  • The Pre-Funded Warrants are immediately exercisable and may be exercised at any time until all of the Pre-Funded Warrants are exercised in full.
  • Sichenzia Ross Ference Carmel LLP served as counsel to the sole book-running manager, Aegis Capital Corp., for the offering.
  • A final prospectus describing the terms of the offering has been filed with the SEC and is available on the SEC's website at www.sec.gov .

C3is Inc. Announces Pricing of $6.0 Million Underwritten Public Offering

Retrieved on: 
Venerdì, Marzo 15, 2024
Indian stock exchange, Form, Telephone, CISS, Warrant, Class, Sale, Transport, Public expenditure, Attention, Prospectus, Unit, Aframax, Security (finance)

The purchase price of each Common Unit is $0.05 and the purchase price of each Pre-Funded Unit is $0.04 (which is equal to the public offering price per Common Unit minus $0.01).

Key Points: 
  • The purchase price of each Common Unit is $0.05 and the purchase price of each Pre-Funded Unit is $0.04 (which is equal to the public offering price per Common Unit minus $0.01).
  • The closing of the offering is expected to occur on March 19, 2024, subject to customary closing conditions.
  • Sichenzia Ross Ference Carmel LLP is serving as counsel to the sole book-running manager, Aegis Capital Corp., for the offering.
  • Before investing in this offering, interested parties should read in their entirety the prospectus, which provides more information about the Company and such offering.

Performance Shipping Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2023

Retrieved on: 
Giovedì, Marzo 7, 2024
Shipbuilding, Share repurchase, TCE, Tanker, Sale, Aframax, Environment, Security (finance)

Earnings per share, basic and diluted, for the fourth quarter of 2023 were $2.03 and $0.63, respectively.

Key Points: 
  • Earnings per share, basic and diluted, for the fourth quarter of 2023 were $2.03 and $0.63, respectively.
  • During the fourth quarter of 2023, net cash provided by operating activities was $9.3 million, compared with net cash provided by operating activities of $23.7 million for the fourth quarter of 2022.
  • Net income for the years ended December 31, 2023, and December 31, 2022, amounted to $69.4 million and $36.3 million, respectively.
  • Commenting on the results of the fourth quarter of 2023, Andreas Michalopoulos, the Company’s Chief Executive Officer, stated:
    “During the fourth quarter of 2023, the tanker market continued to strengthen as it did throughout the year.

FRO – Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Giovedì, Febbraio 29, 2024
Acquisition, FRONTLINE, Front line, Suezmax, Euronav, ECO, Sale, PLC, Aframax, Good, LR2, VLCC

FRONTLINE PLC REPORTS RESULTS FOR THE FOURTH QUARTER ENDED DECEMBER 31, 2023

Key Points: 
  • FRONTLINE PLC REPORTS RESULTS FOR THE FOURTH QUARTER ENDED DECEMBER 31, 2023
    Frontline plc (the “Company” or “Frontline”), today reported unaudited results for the three and twelve months ended December 31, 2023:
    Profit of $118.4 million, or $0.53 per share for the fourth quarter of 2023.
  • Adjusted profit of $102.2 million, or $0.46 per share for the fourth quarter of 2023.
  • Declared a cash dividend of $0.37 per share for the fourth quarter of 2023.
  • Reported revenues of $415.0 million for the fourth quarter of 2023.

Imperial Petroleum Inc. Reports Fourth Quarter and Twelve Months 2023 Financial and Operating Results

Retrieved on: 
Martedì, Febbraio 13, 2024
Depreciation, Share repurchase, IMPP, Sale, Calendar, Net income, Series, Suezmax, Dry dock, Aframax, Interest, EPS, Asset, Shipbuilding

ATHENS, Greece, Feb. 13, 2024 (GLOBE NEWSWIRE) -- IMPERIAL PETROLEUM INC. (NASDAQ: IMPP, the “Company”), a ship-owning company providing petroleum products, crude oil and dry bulk seaborne transportation services, announced today its unaudited financial and operating results for the fourth quarter and twelve months ended December 31, 2023.

Key Points: 
  • ATHENS, Greece, Feb. 13, 2024 (GLOBE NEWSWIRE) -- IMPERIAL PETROLEUM INC. (NASDAQ: IMPP, the “Company”), a ship-owning company providing petroleum products, crude oil and dry bulk seaborne transportation services, announced today its unaudited financial and operating results for the fourth quarter and twelve months ended December 31, 2023.
  • Drydocking costs for the three months ended December 31, 2023 and 2022 were $2.5 million and $1.9 million, respectively.
  • EBITDA for the three months ended December 31, 2023 amounted to $8.0 million, while Adjusted EBITDA for the three months ended December 31, 2023 amounted to $8.7 million.
  • EBITDA for the twelve months ended December 31, 2023 amounted to $82.8 million while Adjusted EBITDA for the twelve months ended December 31, 2023 amounted to $86.0 million.

C3is Inc. Announces Closing of $7.0 Million Upsized Underwritten Public Offering

Retrieved on: 
Martedì, Gennaio 23, 2024
Aframax, CISS, Class, Prospectus, Warrant, Public expenditure, Form, Aegis, Sale, Indian stock exchange, Transport, Telephone, Attention, File, Security (finance)

The offering was upsized from $6.0 million.

Key Points: 
  • The offering was upsized from $6.0 million.
  • The purchase price of each Common Unit was $0.25, and the purchase price of each Pre-Funded Unit was $0.24 (which is equal to the public offering price per Common Unit minus $0.01).
  • The Pre-Funded Warrants are immediately exercisable and may be exercised at any time until all of the Pre-Funded Warrants are exercised in full.
  • Sichenzia Ross Ference Carmel LLP served as counsel to the sole book-running manager, Aegis Capital Corp., for the offering.