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United Maritime also expands relationship with DeepSea AI Platform
Glyfada, Greece - January 28, 2025
United Maritime Corporation (the 'Company' or 'United') (NASDAQ: USEA), announced today it has completed the divestment of its oldest Capesize vessel, M/V Goodship, finalizing the Company’s exit from vintage tonnage as part of its long-term fleet renewal plan. On September 16, 2025, the 177,536 dwt Capesize vessel, M/V Goodship, built in 2005 in Japan, was delivered to its Far Eastern buyers, an unaffiliated third party. The net sale price of approximately $15.4 million is expected to generate net cash proceeds of approximately $8.2 million after the repayment of the associated debt and an accounting profit of approximately $0.6 million, which will be recorded in United’s third quarter financial results.
Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated:
'We are pleased to announce the successful sale of the 20-year-old M/V Goodship, divesting an aging asset at premium value. This transaction reflects our effective fleet management strategy, as we continue to capitalize on the favorable conditions in the secondhand market, strengthening our liquidity position, while at the same time improving the overall age profile of our fleet.
The sale of the M/V Goodship follows the earlier sales of the 2004-built M/V Gloriuship and the 2006-built M/V Tradership, concluding our strategic exit from the ownership and operation of older dry bulk vessels. Further to these sales, the average age of United’s fleet has been reduced by approximately 3 years, to 12.7 years today. This transaction concludes our strategic exit from older tonnage and leaves us with a younger, leaner, and more commercially competitive fleet.
Moreover, with cash reserves of over $20.0 million or $2.20 per share, excluding the considerable net value of its vessels and assets, United now holds ample firepower to pursue capital returns and strategic fleet growth.'
About United Maritime Corporation
United Maritime Corporation is an international shipping company specializing in worldwide seaborne transportation services. The Company operates a fleet of five dry bulk vessels, comprising two Kamsarmax and three Panamax vessels, with an aggregate cargo carrying capacity of 396,297 dwt. The Company is incorporated under the laws of the Republic of the Marshall Islands and has executive offices in Glyfada, Greece.
The Company's common shares trade on the Nasdaq Capital Market under the symbol 'USEA'.
United Maritime Corporation - press release
