Core Viewpoint - United Maritime Corporation has announced the sale of its oldest Capesize vessel, M/V Gloriuship, and the integration of M/V Synthesea into the DeepSea AI Platform, while also extending its share repurchase program [1][3][4]. Group 1: Vessel Sale - The company has entered into a definitive agreement for the sale of its 171,314 dwt Capesize vessel, M/V Gloriuship, built in 2004, with an expected delivery to new owners by mid-July 2025 [3]. - The aggregate net sale price for M/V Gloriuship is approximately $15.0 million, which will enhance the company's cash reserves by about $7.0 million after repaying existing indebtedness [6]. Group 2: Share Repurchase Program - The existing $3.0 million share repurchase plan has been extended for an additional 12 months, now effective through December 31, 2025 [4]. - Approximately $1.9 million remains available for repurchase under the program, which has seen about $1.1 million completed so far [7]. Group 3: AI Integration - The integration of M/V Synthesea into the DeepSea Technologies Platform provides AI-driven solutions for real-time monitoring and optimization of energy consumption, fuel usage, and performance [5]. Group 4: Fleet Composition - Following the sale of M/V Gloriuship, the company's operating fleet will consist of seven vessels, including 2 Capesize, 2 Kamsarmax, and 3 Panamax vessels, with a total cargo carrying capacity of 750,758 dwt [7].
United Maritime Announces Sale of its Oldest Capesize and Extension of Share Repurchase Plan