United Maritime announced delivery of first Aframax Petroleum Tanker

August 12, 2022

Stamatis Tsantanis, Chairman & Chief Executive Officer

United Maritime announced the delivery of the previously-announced Aframax vessel acquisition, renamed M/T Parosea (the “Vessel”). The Vessel is a 114,000-deadweight (“dwt”) crude oil tanker, built in 2006 at a reputable yard in South Korea. The M/T Parosea is the first out of the 4- tanker fleet acquisition agreed by United in July 2022.

The Vessel has entered an Aframax tanker pool, operated by a leading international tanker operator.

Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated:

“We are pleased with the prompt delivery of our first tanker vessel and the concurrent commencement of its employment in a prominent pool which tracks closely the spot earnings of the tanker sector.

“We consider the timing of the delivery to be optimal given the current earnings environment. The daily Time Charter Equivalent of the Baltic Dirty Tanker Index (“BDTI”) for Aframax stands currently in excess of $50,000 and the outlook remains firmly positive.

“We look forward to the prompt deliveries of the remaining three tankers which will further enhance the earning capacity of United. We will continue to monitor the market for accretive transactions aimed at strengthening our presence in the tanker sector.”