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.
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