Imperial Petroleum Inc. has announced agreements to acquire three Japanese-built drybulk carriers from entities affiliated with Brave Maritime Corp. This strategic move, worth $51.6 million, is set to significantly enhance the company’s carrying capacity and further strengthen its market presence.
The vessels, with a combined capacity of approximately 164,400 dwt, are expected to join the fleet between September 2025 and August 2026.
Acquisition Details and Payment Structure
The three drybulk carriers, averaging 12.5 years in age, were purchased for an aggregate price of $51.6 million. Notably, 10% of the payment will be made in Imperial Petroleum’s common stock, valued at the 30-day VWAP prior to the agreement date. The company has secured an option to complete payment up to one year after each purchase agreement without accruing interest. This flexibility offers financial leeway while securing valuable assets for future operations.
Strategic Impact on Fleet and Operations
Following the scheduled vessel deliveries, Imperial Petroleum’s fleet will grow to a total of 22 ships, assuming no further acquisitions or disposals. This expansion not only boosts cargo capacity but also positions the company to meet growing global trade demands more effectively. The acquisition was approved by the independent directors and reflects a continued partnership with Brave Maritime Corp., linked to the Vafias family.
Imperial Petroleum’s acquisition of these three Japanese-built drybulk carriers marks a strategic investment aimed at fleet modernization and operational growth. With flexible payment options and delivery scheduled over the next two years, the company is positioning itself to strengthen its competitive edge in the drybulk shipping market.
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Source: Marketer Screener
