Imperial Petroleum (US:IMPP)2025-02-14 17:33Financial Performance - Net income for the 12 months of 2024 was $50.2 million[9, 32] - Cash and cash equivalents, including time deposits, reached $206.7 million as of December 31, 2024, a 66.7% increase compared to approximately $124 million as of December 31, 2023[9] - Revenues in Q4 2024 were $26.2 million, a 12.4% decrease from $29.9 million in Q4 2023, attributed to decreased market rates, particularly for crude tankers[9, 33] - EBITDA for Q4 2024 was $6.4 million[9, 33] - Operating cash flow for the 12 months of 2024 amounted to $77.7 million[9] Fleet Operations - Fleet operational utilization was 86% for Q4 2024, compared to 68.5% in Q4 2023[9] - Operational utilization for the 12 months of 2024 was 78.3%, with approximately 69% of fleet calendar days dedicated to spot activity and almost 29% to time charter activity[9] - Time charter coverage for the remainder of 2025 is about 23%[10] Market Outlook - Oil tankers trade growth for 2025 is anticipated to reach 2%[14] - The company notes that sanctions on the dark fleet imposed in January 2025 have begun to favor compliant tanker fleets[18]