From GlobeNewswire:

United Maritime Corporation announced its financial results for Q4 2023. Net Revenues were $11.6 million, Adjusted EBITDA was $4.6 million. Net Loss and Adjusted Net Loss were $0.7 million and $0.6 million, and (Loss) / Earnings per Share (EPS) Basic was ($0.08) and Adjusted (Loss) / Earnings per share Basic was ($0.07). The company declared a quarterly cash dividend of $0.075 per share and invested in dry bulk vessels. They also reported daily net TCE rate of around $14,157 for Q1 2024. Looking ahead, the company is optimistic about their financial performance in 2024, the outlook for the dry bulk market remains constructive with a healthy dry bulk market seen so far in the first quarter seeming to be sustainable through the rest of the year. Buybacks of common shares and regular cash dividends will continue into 2024. United Maritime will enter an 18-month charter-in agreement for a 2016-built Japanese Kamsarmax vessel. The company is also looking to further grow and renew their fleet. The company’s current fleet consists of 3 Capesize, 3 Kamsarmax, and 3 Panamax vessels. Ownership days totaled 736 and fleet utilization was at 95.1%. The TCE rate was $15,874. Upcoming vessel Nisea is expected to be delivered soon. Overall, the company looks forward to further growth and expansion in 2024.



Read more: United Maritime Reports Financial Results for the Fourth