Aframax

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

Retrieved on: 
Tuesday, March 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: 
Friday, March 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: 
Thursday, March 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: 
Thursday, February 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: 
Tuesday, February 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: 
Tuesday, January 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.

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

Retrieved on: 
Friday, January 19, 2024
Aframax, Unit, CISS, Class, Prospectus, Warrant, Public expenditure, Form, 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 is $0.25, and the purchase price of each Pre-Funded Unit is $0.24 (which is equal to the public offering price per Common Unit minus $0.01).
  • The closing of the offering is expected to occur on January 23, 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.

Toro Corp. Announces the Completion of the Sale of the M/T Wonder Vega

Retrieved on: 
Thursday, December 21, 2023
Sale, Aframax

LIMASSOL, Cyprus, Dec. 21, 2023 (GLOBE NEWSWIRE) -- Toro Corp. (NASDAQ: TORO) (“Toro”, or the “Company”), an international energy transportation services company, announces that on December 21, 2023, the Company completed the previously announced sale of the M/T Wonder Vega, a 2005-built Aframax tanker, at a price of $31.5 million, by delivering the vessel to its new owner.

Key Points: 
  • LIMASSOL, Cyprus, Dec. 21, 2023 (GLOBE NEWSWIRE) -- Toro Corp. (NASDAQ: TORO) (“Toro”, or the “Company”), an international energy transportation services company, announces that on December 21, 2023, the Company completed the previously announced sale of the M/T Wonder Vega, a 2005-built Aframax tanker, at a price of $31.5 million, by delivering the vessel to its new owner.
  • The Company expects to record a net gain on the above-mentioned sale of approximately $17.7 million, excluding any transaction-related costs during the fourth quarter of 2023.

Performance Shipping Inc. Announces Completion of Sale and Delivery of 2007 Built M/T P. Kikuma to New Owners

Retrieved on: 
Wednesday, December 13, 2023
Environment, Sale, Aframax, Shipbuilding

Following the sale of the P. Kikuma, the Company’s fleet currently consists of seven (7) Aframax tankers, and one (1) LNG-ready LR2 Aframax tanker expected to be delivered during the fourth quarter of 2025.

Key Points: 
  • Following the sale of the P. Kikuma, the Company’s fleet currently consists of seven (7) Aframax tankers, and one (1) LNG-ready LR2 Aframax tanker expected to be delivered during the fourth quarter of 2025.
  • Commenting on the delivery, Andreas Michalopoulos, the Company’s Chief Executive Officer, stated:
    “As previously announced, the completion of the sale of our oldest Aframax tanker results in an even more attractive fleet profile consisting of younger vessels.
  • This strategic shift positions our Company favorably to capitalize on the positive momentum of the tanker charter rate environment.
  • With a strong balance sheet, the Company is well-positioned to pursue its fleet renewal and expansion objectives.”

Performance Shipping Inc. Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2023

Retrieved on: 
Monday, November 27, 2023
Sale, TCE, Acquisition, Public expenditure, Tanker, Aframax, Shipbuilding, Share repurchase, Employment, Environment, Security (finance)

The 2023 third quarter results compared to a net income of $10.7 million and net income attributable to common stockholders of $10.4 million for the same period in 2022.

Key Points: 
  • The 2023 third quarter results compared to a net income of $10.7 million and net income attributable to common stockholders of $10.4 million for the same period in 2022.
  • Earnings per share, basic and diluted, for the third quarter of 2023 were $0.88 and $0.27, respectively.
  • Fleetwide, the average TCE rate for the third quarter of 2023 was $31,787, compared with an average rate of $34,411 for the same period in 2022.
  • Net income for the nine months ended September 30, 2023, amounted to $44.5 million, compared to a net income of $12.5 million for the nine months ended September 30, 2022.