Heidmar’s Commitment to Excellence
Heidmar has been recognized for its commitment to excellence in commercial management, chartering, and asset management advisory services. It offers broad services to shipowners, including tanker pool management, commercial management, and time charter trading. The company is actively expanding into dry bulk pool management, vessel sale and purchase services, and technical management services, including environmental compliance. Heidmar currently manages more than 60 vessels, including both crude oil and refined petroleum product tankers, with an aggregate capacity of approximately 8.3 million deadweight tons.
Commenting on the transaction, Maximiliano Ojeda, Founder, Chairman and CEO of MGO, noted, “We are thrilled to announce this Business Combination Agreement with Heidmar, which we believe will position the combined company to capitalize on the evolving, underserved demands of the massive $370 billion global tanker shipping market. The fundamental strength of Heidmar’s profitable business, coupled with anticipated future growth fueled by its leading asset-light business model, provides a compelling and potentially transformative opportunity for our fellow MGO shareholders. As MGO has worked through this process, we have been particularly impressed with the significant public company experience of Heidmar’s leadership team, as well as their long track record of success in driving growth and sustainable value creation for shareholders and the world’s leading oil and energy companies, traders and ship owners.”
Heidmar’s Evolution and Financial Success
Pankaj Khanna, Chief Executive Officer of Heidmar, added, “Today marks a key inflexion point in the ongoing evolution of Heidmar as a global leader in the marine transportation services industry. Having profitably grown Heidmar’s revenues ten-fold, from $5 million in 2021 to nearly $50 million in 2023, we also generated net income of$19.6 million in 2023 leading to
approximately 40% net margins. Heidmar has established a sound foundation that is expected to effectively support substantial future growth through diligent execution of our business expansion strategies. I am very proud of what the Heidmar Team has achieved since we assumed leadership of the Company in 2020 and look forward to leveraging the Heidmar brand and relationships built over the last four decades to fuel further growth. Heidmar has a critical role to play in the decarbonization of the shipping industry by providing operational and technical measures to our clients to reduce CO2 emissions.”
Did you subscribe to our daily Newsletter?
It’s Free! Click here to Subscribe
Source: Heidmar
