United Maritime Corporation (USEA)

Glad to see they are still paying a dividend and the price is headed in the right direction!  Slow and steady does it!

United Maritime Reports Improved First Quarter 2026 Financial Results and Declares Quarterly Cash Dividend of $0.10 Per Share

May 21 2026 - 9:00AM

United Maritime Corporation (“United” or the “Company”) (NASDAQ: USEA), announced today its financial results for the first quarter ended March 31, 2026. The Company also declared a quarterly dividend of $0.10 per common share for the first quarter of 2026.

For the quarter ended March 31, 2026, the Company generated Net Revenues of $7.9 million, broadly in line with the same period of 2025. Net Loss and Adjusted Net Income for the quarter were $0.1 million and $0.2 million, respectively, improving significantly from Net Loss and Adjusted Net Loss of $4.5 million and $4.4 million, respectively in the first quarter of 2025. Adjusted EBITDA increased substantially to $3.2 million from $0.9 million for the same period of 2025. The Time Charter Equivalent (“TCE”) rate of the fleet for the first quarter of 2026 was $15,591 per day, compared to $9,953 in the same period of 2025.

Cash and cash-equivalents and restricted cash as of March 31, 2026, stood at $10.1 million. Shareholders’ equity at the end of the first quarter was $55.5 million, while long-term debt, finance lease liabilities and other financial liabilities, net of deferred finance costs stood at $89.7 million as of March 31, 2026. The book value of our fleet as of March 31, 2026, stood at $130.2 million, including one chartered-in Capesize vessel and one Kamsarmax vessel held for sale.

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

“United delivered a significantly improved financial performance, driven by stronger dry bulk market conditions and continued strategic execution.

“Our Board declared another cash dividend of $0.10 per share, representing a running yield of 17% on our last closing share price2. This is our 14th consecutive quarterly distribution, and since November 2022, we have distributed approximately $1.94 per share. The Company is now on a strong path to profitability, and we remain confident in our ability to sustain meaningful cash distributions, supported by favorable market conditions and the progressive earnings contribution from our ongoing fleet repositioning.

“The decisive repositioning of our fleet, acquiring two Capesize vessels while divesting the Kamsarmax M/V Cretansea, represents a deliberate reallocation of capital toward larger, higher-earning assets at an attractive point in the Capesize cycle. The imminent delivery of M/V Squireship and the near completion of our profitable exit from the Offshore newbuilding project mark the final steps of this process. The financial benefits of this repositioning have already begun to materialize and we expect the full earnings and cash flow contribution to build progressively through the year.

“On guidance, we have secured approximately 92% of Q2 available days at an average of $17,807/day. Based on current FFA levels, we expect Q2 TCE of approximately $17,957/day. Looking beyond Q2, approximately half of our operating days are already fixed, providing a balanced combination of earnings visibility and continued market upside exposure. Needless to say, the addition of the second Capesize will further boost TCE and earnings for the second half of the year.

“Moving on to discuss market conditions, dry bulk has delivered a very strong start of the year, despite this period typically representing the seasonally weaker part of the year. Year to date, the Capesize-180 and Kamsarmax Baltic indexes have averaged daily rates of $27,103 and $16,459 respectively year-to-date, compared to $13,840 and $10,230 in the same period of 2025. While geopolitical uncertainty stemming from the conflict in Iran has complicated the broader outlook, dry bulk market performance over the past month leaves no doubt that we are currently operating in a very constructive environment. Iron ore, bauxite and grain exports have been particularly robust, while seaborne coal trade has recovered meaningfully on the back of China's import demand. Looking ahead, we expect the coal restocking season to be stronger than usual, underpinned by natural gas substitution trends and energy security priorities. Fleet supply growth remains constrained, especially in the Capesize segment, and accelerating fleet aging combined with tightening environmental regulations should continue to support effective supply discipline. United is well positioned to convert this favorable environment into tangible cash generation and shareholder value.”

https://investorshub.advfn.com/stock-market/NASDAQ/united-maritime-USEA/stock-news/98585222/united-maritime-reports-improved-first-quarter-202

United Maritime Reports Fourth Quarter and Full-Year 2025 Financial Results

March 12 2026 - 8:45AM


United Maritime Corporation (“United” or the “Company”) (NASDAQ: USEA), announced today its financial results for the fourth quarter and twelve months ended December 31, 2025. The Company also declared a quarterly dividend of $0.10 per common share for the fourth quarter of 2025, with total cash dividend for 2025 of $0.23 per common share.

For the quarter ended December 31, 2025, the Company generated Net Revenues of $6.6 million compared to $10.8 million in the fourth quarter of 2024. Net Loss and Adjusted Net Loss for the quarter were $3.8 million and $1.5 million, respectively, compared to Net Loss of $1.8 million and Adjusted Net Loss of $0.7 million in the fourth quarter of 2024. Adjusted EBITDA for the quarter was $1.5 million, compared to $5.1 million for the same period of 2024. The Time Charter Equivalent (“TCE”) rate of the fleet for the fourth quarter of 2025 was $14,129 per day, compared to $14,248 in the same period of 2024.

For the full year 2025, the Company generated Net Revenues of $37.8 million, compared to $45.4 million in the same period of 2024. Net Loss and Adjusted Net Loss for the period were $6.2 million and $4.1 million, respectively, compared to Net Loss of $3.4 million and Adjusted Net Loss of $1.2 million in the respective period of 2024. Adjusted EBITDA for the twelve months was $12.9 million, compared to $20.3 million for the same period of 2024. The TCE rate of the fleet for the twelve-month period of 2025 was $13,565 per day compared to $15,719 in the same period of 2024. The average daily OPEX was $6,338 compared to $6,616 of the respective period of 2024.

Cash and cash-equivalents and restricted cash as of December 31, 2025, stood at $14.6 million. Shareholders’ equity at the end of the fourth quarter was $56.5 million, while long-term debt, finance lease liabilities and other financial liabilities, net of deferred finance costs stood at $64.8 million as of December 31, 2025. The book value of our fleet as of December 31, 2025, stood at approximately $100.0 million, including one chartered-in Kamsarmax vessel.

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

“During the fourth quarter and into early 2026, United Maritime executed a series of strategic actions that meaningfully strengthened our earnings power, improved balance sheet flexibility, and positioned the Company for enhanced shareholder value creation.

“We are pleased to declare our 13th consecutive quarterly dividend, a milestone that reflects our commitment for capital returns. Since initiating our dividend program in November 2022, United has declared cumulative cash dividends of approximately $1.84 per share. With stronger cash generation now secured through recently contracted fleet employment, we are confident in our ability in the near-medium term to sustain a competitive level of distributions while preserving the financial flexibility to pursue accretive growth opportunities.

“A central pillar of our 2025–2026 strategy has been disciplined capital reallocation: divesting lower-returning assets and redeploying proceeds into higher-earning Capesize exposure. In early 2026, we agreed to sell the 2009-built Kamsarmax M/V Cretansea for $14.7 million, generating approximately $6.0 million in net cash proceeds after debt repayment. We also agreed to exit our investment in the offshore energy construction vessel project, realizing proceeds of approximately €13.0 million, a profit of approximately €1.7 million, and a return on invested capital of approximately 15%. These two agreed sales combined are expected to release approximately $21.0 million in net liquidity.

“In February, we took delivery of the 2010-built Capesize M/V Dukeship under an 18-month bareboat charter at a daily hire of $9,450. The vessel is employed at a fixed gross daily rate of approximately $29,300 through year-end 2026, providing immediate contracted cash flow visibility. In addition, we recently agreed to acquire the 2010-built scrubber-fitted Capesize M/V Squireship from Seanergy Maritime Holdings Corp. for approximately $29.5 million, with delivery in April-June 2026, financed through a combination of debt and internally generated liquidity, including proceeds from the aforementioned sales. The implied investment in the two Capesizes is approximately $62.0 million. At current market levels, these two Capesize vessels are expected to generate material incremental free cash flow and meaningfully enhance the Company’s earnings profile on a per-share basis.

“Operationally, our fourth quarter TCE of $14,129 per day was in line with the same period of 2024, reflecting United’s transition to a pure Panamax fleet during the third quarter of 2025. Fleet utilization remained strong at 97.6%, while daily OPEX of $6,404 was well controlled. For the first quarter of 2026, we anticipate a daily TCE of approximately $15,230, with about 92.0% of available days already fixed, providing meaningful revenue visibility in the near term. Looking further ahead, the Panamax market continues to exhibit solid fundamentals. At the same time, the addition of the Capesize M/V Dukeship since February under a fixed-rate time charter, together with the expected delivery of the Capesize M/V Squireship in the second half of the year, is expected to further enhance our earnings power and cash flow visibility through the balance of 2026.

“On the financing front, we successfully completed a sale and leaseback agreement to fund the purchase option associated with the 2016 built Kamsarmax, M/V Nisea. The vessel has been sold and chartered back over a five-year period at terms that we believe reflect United Maritime’s strengthening credit profile and increasing institutional recognition, further evidencing our growing access to competitive capital.

“Market conditions in early 2026 have been constructive, with healthy cargo flows offsetting typical seasonal headwinds. Robust grain exports and resilient coal and iron ore volumes have supported rate levels across vessel classes. Supply-side dynamics remain favorable: the dry bulk orderbook is at historically low levels, and constrained global shipyard capacity continues to limit new vessel deliveries. While geopolitical uncertainties, including ongoing tensions in the Middle East, introduce some macro uncertainty, dry bulk trade flows have demonstrated resilience, and the sector’s underlying fundamentals remain supportive.

“With a strengthened fleet, improved earnings visibility, a proven track record of consistent capital returns, and growing financial flexibility, United Maritime is well positioned to capitalize on market opportunities and continue building per-share value for our shareholders. We approach 2026 with confidence and strategic clarity.”

https://investorshub.advfn.com/stock-market/NASDAQ/united-maritime-USEA/stock-news/98038512/united-maritime-reports-fourth-quarter-and-full-ye

United Maritime Executes Value-Accretive Transactions, Generating Significant Liquidity and Investment in Capesize Sector

February 17 2026 - 9:15AM


United Maritime Corporation (the “Company” or “United”) (NASDAQ: USEA) announced today a series of coordinated transactions that materially upgrade its earnings profile, enhance free cash flow potential, and underscore United’s disciplined, return-focused capital strategy.

The Company has entered into an agreement to sell its early-stage investment in the Norwegian JV owning an Energy Construction Vessel (“ECV”) currently under construction. In addition, United has agreed to sell its oldest Kamsarmax vessel, the 2009-built MV Cretansea to an unaffiliated third party. In parallel, the Company also entered into an 18-month bareboat charter agreement with Seanergy Maritime Holdings Corp. (“Seanergy”), for a 2010-built Japanese Capesize dry-bulk vessel of 181,453 dwt.

The combined release of liquidity from the abovementioned transactions is estimated at approximately $15.5 million.

Monetization of Offshore Investment

In July 2024, United entered the ECV newbuilding project at an early stage, gaining exposure to a fast-growing offshore energy market serving both subsea oil & gas and renewable infrastructure. As the project advanced and market valuations strengthened, United increased its participation and ultimately became the largest individual shareholder. Consistent with its stated investment strategy which focuses on early entry, value creation and timely exit, in February 2026, the Company agreed to sell its equity interest for approximately €13.0 million, realising a profit of approximately €1.7 million. The transaction is expected to close by May 31, 2026, upon customary conditions, after which United will no longer hold an equity stake in the project.

Sale of M/V Cretansea

In January 2026, the Company entered into a definitive agreement with an unaffiliated third party for the sale of its 81,508 dwt Kamsarmax vessel, the 2009-built MV Cretansea. The vessel is expected to be delivered to its new owners by May 25, 2026. The aggregate net sale price of $14.7 million is expected to generate net cash proceeds of approximately $6.0 million after repayment of the associated debt. The sale releases capital from older tonnage with more limited earnings upside, supporting a shift toward higher-quality, higher cash-flow assets.

Acquisition of a Japanese Capesize Vessel through Bareboat Charter Agreement

In February 2026, the Company took delivery of a 2010-built Japanese Capesize dry-bulk vessel of 181,453 dwt, MV Dukeship, through an 18-month bareboat charter agreement with Seanergy, a related party. Pursuant to the terms of the bareboat charter, United has advanced a down payment of $5.5 million. The bareboat charter includes a daily charter rate of $9,450 over the charter period and a purchase obligation of $22.1 million at the end of the bareboat charter.

Through the bareboat charter, United gains immediate exposure to the Capesize market, the most cash-generative segment of dry bulk, with what we believe to be the best fundamentals. The transaction is expected to meaningfully increase United’s free-cash-flow potential during the charter period.

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

“These transactions represent disciplined capital reallocation in action. The successful monetization of the ECV investment reaffirms our ability to create value beyond tankers and dry bulk. In this project, we invested early in the process and supported the project through its development phase. Recently, we secured a well-timed exit delivering a meaningful cash return for the Company.

“Moreover, we decided to sell our oldest Kamsarmax vessel at an attractive second-hand value. At the same time, the 18-month bareboat charter of the Japanese Capesize, MV Dukeship, enhances our earnings power and free-cash-flow potential in what we believe to be a structurally constructive market for large bulkers.

“The approximately $15.5 million net proceeds released by the aforementioned transactions reinforce our cash reserves. We will seek to re-deploy the capital for more accretive transactions, subject to market conditions, as well as continued meaningful shareholder returns.”

About United Maritime Corporation

United Maritime Corporation is an international shipping company specializing in worldwide seaborne transportation services. The Company operates a fleet of six dry bulk vessels, comprising one Capesize, two Kamsarmax and three Panamax vessels, with an aggregate cargo carrying capacity of 577,750 dwt. Upon completion of the aforementioned sale of the M/V Cretansea, the Company’s operating fleet will consist of five vessels (one Capesize, one Kamsarmax and three Panamax), with an aggregate cargo carrying capacity of 496,242 dwt.

The Company is incorporated under the laws of the Republic of the Marshall Islands and has executive offices in Glyfada, Greece.

The Company's common shares trade on the Nasdaq Capital Market under the symbol “USEA”.

Please visit the Company’s website at: www.unitedmaritime.gr.

https://investorshub.advfn.com/stock-market/NASDAQ/united-maritime-USEA/stock-news/97849743/united-maritime-executes-value-accretive-transacti

United Maritime Reports Third Quarter and Nine Months Financial Results for the Periods Ended September 30, 2025
November 11 2025 - 9:00AM



United Maritime Corporation (“United” or the “Company”) (NASDAQ: USEA), announced today its financial results for the third quarter and nine months ended September 30, 2025. The Company also declared a quarterly dividend of $0.09 per common share for the third quarter of 2025.

For the quarter ended September 30, 2025, the Company generated Net Revenues of $11.0 million compared to $11.6 million in the third quarter of 2024. Net Income and Adjusted Net Income for the quarter were $1.1 million and $1.6 million, respectively, compared to Net Loss of $0.9 million and Adjusted Net Loss of $0.3 million in the third quarter of 2024. Adjusted EBITDA for the quarter was $5.4 million, compared to $5.2 million for the same period of 2024. The Time Charter Equivalent (“TCE”) rate of the fleet for the third quarter of 2025 was $15,093 per day, compared to $16,365 in the same period of 2024.

For the nine-month period ended September 30, 2025, the Company generated Net Revenues of $31.2 million, compared to $34.6 million in the same period of 2024. Net Loss and Adjusted Net Loss for the period were $2.4 million and $2.6 million, respectively, compared to Net Loss of $1.6 million and Adjusted Net Loss of $0.5 million in the respective period of 2024. Adjusted EBITDA for the nine months was $11.4 million, compared to $15.2 million for the same period of 2024. The TCE rate of the fleet for the nine-month period of 2025 was $13,436 per day compared to $16,246 in the same period of 2024. The average daily OPEX was $6,323 compared to $6,806 of the respective period of 2024.

Cash and cash-equivalents and restricted cash as of September 30, 2025, stood at $20.1 million. Shareholders’ equity at the end of the third quarter was $61.1 million, while long-term debt, finance lease liabilities and other financial liabilities, net of deferred finance costs stood at $67.0 million as of September 30, 2025. The book value of our fleet as of September 30, 2025, stood at $102.8 million, including one chartered-in Kamsarmax vessel.

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

“We delivered solid profitability in Q3 while continuing to optimize our fleet and balance sheet. The sale of our older Capesize vessels released approximately $18.8 million in liquidity, and we resumed share repurchases, reaffirming our conviction in the Company’s intrinsic value. Moreover, the dry-bulk outlook over the coming quarters remains favorable, and our Panamax/Kamsarmax fleet is positioned to capture that upside.

“Consistent with our shareholder rewards initiatives, and on the back of the profitable sale of the two older Capesize vessels, our Board of Directors has approved quarterly dividend of $0.09, representing our 12th consecutive quarterly dividend payment. Based on the recent trading levels of our stock, the most recent four quarterly dividends, including the dividend announced today, represent an approximately 9% annual dividend yield. Since the commencement of our operations, we have declared cumulative cash dividends of $1.74 per share, or $14.0 million in total, underscoring our consistent track record of capital returns. This aggregate amount is approximately equal to our current market capitalization.

“In the third quarter of 2025 we achieved a daily TCE of $15,093, representing a small decrease from $15,421 in the second quarter. Our commercial performance reflects the change in our fleet composition following the divestment of our last Capesize bulkers, transitioning to a pure Panamax and Kamsarmax fleet. We are pleased with this result, and we remain optimistic about the next quarters with all our vessels trading on index-linked time charters that benefit directly from healthy spot rates. As for our fourth-quarter guidance, we have fixed approximately 62% of our available operating days at a daily rate of about $14,880. Based on the current FFA curve, we anticipate an overall Q4 TCE of approximately $15,040.

“In terms of our commercial developments, we have secured three new time charters with leading counterparties, preserving full exposure to Panamax/Kamsarmax market strength. All employments involve index linked rates with direct exposure to the Panamax and Kamsarmax market. We continue to actively monitor the market developments and evaluate opportunities in the FFA market to secure attractive forward coverage at favorable rates.

“During the quarter, we completed the sales of two older Capesize vessels built in 2005 and 2006. These transactions boosted the Company’s net liquidity position by approximately $18.8 million after debt repayment.

“As regards our offshore vessel under construction, we have significantly increased our investment in the project, becoming the largest individual shareholder, with contributions in the project totaling approximately $12.8 million to date. We remain positive about the outlook of this project and its potential commercial extensions in what we believe is shaping up to be a favorable market environment for energy over the next years.

“We also made a pre-seed investment in an AI-driven maritime software platform, making an important step in our digital strategy. While not material in size, this initiative supports significant potential gains in efficiency, automation and transparency across ship management.

“Turning to the dry bulk market, the Panamax market remains firm, driven by strong coal and grain flows. Renewed U.S.–China trade momentum could support extended seasonal strength into Q1 2026, positioning our fleet for continued upside. As regards vessel supply, the Panamax orderbook remains modest at approximately 14% of the existing fleet, while around 16% of the fleet is now older than 20 years. As regulations are expected to further restrict vessel supply over the next years and necessitate fleet renewal, we remain optimistic about the course of dry bulk markets through 2026.

“United is well positioned across both dry bulk and offshore. With a young fleet, a growing cash base, and disciplined strategy, we are focused on creating sustainable long-term value and enhancing shareholder rewards.”

https://investorshub.advfn.com/stock-market/NASDAQ/united-maritime-USEA/stock-news/97205578/united-maritime-reports-third-quarter-and-nine-mon

Like buying and selling used cars!

United Maritime Announces Completion of Strategic Divestment from Older Vessels with the Profitable Sale of its Oldest Capesize Vessel

September 30 2025 - 9:00AM

United Maritime Corporation (the “Company” or “United”) (NASDAQ: USEA), announced today it has completed the divestment of its oldest Capesize vessel, M/V Goodship, finalizing the Company’s exit from vintage tonnage as part of its long-term fleet renewal plan.
On September 16, 2025, the 177,536 dwt Capesize vessel, M/V Goodship, built in 2005 in Japan, was delivered to its Far Eastern buyers, an unaffiliated third party. The net sale price of approximately $15.4 million is expected to generate net cash proceeds of approximately $8.2 million after the repayment of the associated debt and an accounting profit of approximately $0.6 million, which will be recorded in United’s third quarter financial results.

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

“We are pleased to announce the successful sale of the 20-year-old M/V Goodship, divesting an aging asset at premium value. This transaction reflects our effective fleet management strategy, as we continue to capitalize on the favorable conditions in the secondhand market, strengthening our liquidity position, while at the same time improving the overall age profile of our fleet.

“The sale of the M/V Goodship follows the earlier sales of the 2004-built M/V Gloriuship and the 2006-built M/V Tradership, concluding our strategic exit from the ownership and operation of older dry bulk vessels. Further to these sales, the average age of United’s fleet has been reduced by approximately 3 years, to 12.7 years today. This transaction concludes our strategic exit from older tonnage and leaves us with a younger, leaner, and more commercially competitive fleet.

“Moreover, with cash reserves of over $20.0 million or $2.20 per share, excluding the considerable net value of its vessels and assets, United now holds ample firepower to pursue capital returns and strategic fleet growth.”

About United Maritime Corporation

United Maritime Corporation is an international shipping company specializing in worldwide seaborne transportation services. The Company operates a fleet of five dry bulk vessels, comprising two Kamsarmax and three Panamax vessels, with an aggregate cargo carrying capacity of 396,297 dwt.

The Company is incorporated under the laws of the Republic of the Marshall Islands and has executive offices in Glyfada, Greece.

The Company's common shares trade on the Nasdaq Capital Market under the symbol “USEA”.

Please visit the Company’s website at: www.unitedmaritime.gr.

September 25, 2025

TO THE SHAREHOLDERS OF UNITED MARITIME CORPORATION

We are an international shipping company specializing in worldwide seaborne transportation services. Our fleet currently consists of five modern dry bulk vessels, comprising Kamsarmax and Panamax classes, with an aggregate cargo-carrying capacity of 396,297 dwt.

Since our 2024 Annual General Meeting, we have navigated a challenging environment of inflation, muted global growth, and heightened geopolitical uncertainty with resilience and discipline. In the first half of Q2 2025, despite a downturn in dry bulk trade, we remained committed to our shareholder-focused capital return strategy, declaring both our 10th and 11th consecutive quarterly dividends during this period. Since our first public offering in July 2022, we have declared a total cash dividend of $1.65 per common share to our shareholders.

Our fleet modernization strategy continues to advance with the divestment of older vessels, capitalizing on strong second-hand values. These transactions have further enhanced our financial flexibility and positioned us to pursue future opportunities with strength. Our current dry bulk fleet is also well positioned to capture the rising freight market of the transportation of key dry commodities like iron ore, coal, bauxite, grains, etc.

Beyond our dry bulk portfolio, we are also executing on our strategy to invest into sectors with strong fundamentals and long-term growth potential. During 2025, we increased our stake in a newbuilding offshore energy construction vessel. This asset, designed to operate across both the oil and gas and renewable energy sectors, is scheduled for delivery in 2027. With rising demand for energy infrastructure and an aging offshore fleet, we believe this investment places us in an excellent position to capture value from the evolving energy transition.

We warmly invite you to attend the Annual Meeting of the shareholders of United Maritime Corporation, which will be held at 154 Vouliagmenis Avenue, 16674 Glyfada, Greece, on October 30, 2025, at 5:00 p.m. local time. Your voice and participation are integral to our collective future. At the meeting, our shareholders will consider and vote upon proposals to re-elect Mr. Stamatios Tsantanis as Class C Director, to ratify the appointment of our independent auditors, Ernst & Young (Hellas) Certified Auditors Accountants S.A., for the fiscal year ending December 31, 2025, and to reinstate the Company’s previous authorization to have the option to conduct one or more reverse stock splits of the Company’s common shares. The Company does not have any immediate plans to conduct any reverse stock splits. These proposals are described in detail in the proxy materials.

We are using the internet as our primary means of furnishing proxy materials to shareholders. Accordingly, you will not receive paper copies of our proxy materials unless requested. Instead, we have mailed the enclosed notice with instructions for accessing the proxy materials and voting via the internet, along with information on how to obtain paper copies if desired. Opting to receive these materials electronically, saves costs and reduces our environmental impact, demonstrating our commitment to sustainability.

You are cordially invited to attend the meeting in person. Alternatively, you may vote via the internet, by telephone, or, if you receive a paper proxy card in the mail, by mailing the completed card. Your vote is very important to us. Whether or not you plan to attend, please take a moment to review the proxy materials and vote as soon as possible to ensure that your shares will be represented at the meeting.

We deeply appreciate your trust and investment in United Maritime Corporation. As we continue navigating toward future growth, we are confident that our prudent strategies and market positioning will deliver lasting value. On behalf of our management and directors, thank you for your continued support and confidence.


Very truly yours,

Stamatios Tsantanis

Chairman & Chief Executive Officer

United Maritime Reports Second Quarter and First Half Financial Results for the Periods Ended June 30, 2025
August 06 2025 - 8:12AM


United Maritime Corporation (“United” or the “Company”) (NASDAQ: USEA), announced today its financial results for the second quarter and six months ended June 30, 2025. The Company also declared a quarterly dividend of $0.03 per common share for the second quarter of 2025.

For the quarter ended June 30, 2025, the Company generated Net Revenues of $12.5 million compared to $12.4 million in the second quarter of 2024. Net Income and Adjusted Net Income for the quarter were $1.0 million and $0.2 million, respectively, compared to Net Income of $0.7 million and Adjusted Net Income of $0.9 million in the second quarter of 2024. Adjusted EBITDA for the quarter was $5.1 million, compared to $6.3 million for the same period of 2024. The Time Charter Equivalent (“TCE”) rate of the fleet for the second quarter of 2025 was $15,421 per day, compared to $17,143 in the same period of 2024.

For the six-month period ended June 30, 2025, the Company generated Net Revenues of $20.2 million, compared to $23.0 million in the same period of 2024. Net Loss and Adjusted Net Loss for the period were $3.5 million and $4.2 million, respectively, compared to Net Loss of $0.7 million and Adjusted Net Loss of $0.2 million in the respective period of 2024. Adjusted EBITDA for the first half of 2025 was $6.0 million, compared to $10.0 million for the same period of 2024. The TCE rate of the fleet for the first six months of 2025 was $12,744 per day compared to $16,187 in the same period of 2024. The average daily OPEX was $6,332 compared to $6,812 of the respective period of 2024.

Cash and cash-equivalents and restricted cash as of June 30, 2025, stood at $3.4 million. Shareholders’ equity at the end of the second quarter was $60.3 million, while long-term debt, finance lease liabilities and other financial liabilities, net of deferred finance costs stood at $83.8 million as of June 30, 2025. The book value of our fleet as of June 30, 2025, stood at $134.6 million, including one chartered-in Kamsarmax vessel and one Capesize vessel held for sale.

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

“In the second quarter of 2025 United Maritime achieved a daily TCE of $15,421, up 55% from Q1. This sharp recovery in our daily earnings confirms the strength of the dry bulk rebound and our ability to capture the upside.

“Our fleet modernization strategy continues with the divestment of older vessels, capitalizing on strong second-hand values. The sale of the 2004-built M/V Gloriuship was completed in June, and we recently agreed to sell the 2006-built M/V Tradership. These two sales have an aggregate net price of $32.8 million, which is expected to release approximately $17.9 million in liquidity after debt repayments. This strengthens our position to pursue new opportunities. We expect to deliver the M/V Tradership to its new owners within August and to record a book profit of approximately $1.5 million in the third quarter of 2025.

“Beyond our dry bulk operations, we have increased our equity stake in our newbuilding offshore ECV project to approximately 32%. This increase resulted in the full consolidation of the investment vehicle controlling 45% of the ECV, following which we recorded an accounting profit of $1.3 million. This strategic investment aligns with our objective to diversify into segments with strong market fundamentals, supported by ongoing investment in oil and gas infrastructure. Concerning the commercial prospects of this vessel, we are seeing healthy interest from charterers with more meaningful developments expected as we get closer to the delivery. The current market value of the vessel is estimated to be higher than the contract price, positioning us for a positive outcome regardless of the timing or structure of the chartering arrangements.

“Considering the positive momentum in the dry bulk market, the well-timed increase of our equity stake in the offshore project and the successful execution of our recent vessel sales, the board of directors has declared a $0.03 per share dividend, marking our 11th consecutive quarterly distribution — a clear signal of confidence in the outlook and our consistent return policy.

“Turning to our third quarter outlook, we have fixed approximately 68% of our available operating days at a daily rate of about $15,495. Based on the current FFA curve, we anticipate an overall Q3 TCE of approximately $14,707. This guidance reflects one Capesize and one Kamsarmax vessel earning fixed rates during the period. For the fourth quarter, 100% of our operating days remain open on index-linked rates.

“As regards the dry bulk market, both the Capesize and Panamax segments have rebounded sharply from the seasonal weakness of the first quarter. Panamax rates were driven by a surge in grain and coal cargoes after a period of slow demand, along with a reduction of vessel availability due to an increase in port days and congestion levels. In the Capesize market, the sharp rise in June iron ore exports significantly boosted spot rates, while Guinean bauxite exports remained robust throughout the first half of the year. On the supply side, the Capesize and Panamax orderbooks remain modest at approximately 8% and 14% of the existing fleet. Notably, around 7% and 16% of the respective fleets are over 20 years old. In the face of ever stricter environmental regulations effectively tightening vessel supply, this tight supply picture, combined with robust cargo flows, underpins our conviction that dry bulk markets are structurally positioned for strength into 2026. While dry bulk markets are always subject to high volatility, the resiliency displayed during a period of high macroeconomic uncertainty is very encouraging to see.

“United is executing on two fronts: generating strong near-term cash flows and unlocking long-term value through disciplined capital allocation across dry bulk and offshore sectors. At the same time, having declared about $1.65 per share in dividends since inception, our commitment to returning available capital to shareholders is well proven.”

https://investorshub.advfn.com/stock-market/NASDAQ/united-maritime-USEA/stock-news/96574955/united-maritime-reports-second-quarter-and-first-h

USEA💫😁🤌 $5 TARGET

0.075 / share dividend paid.

Sorry “the dollar” it should say

When will we get 5he dollar dividend? Does anybody know?

Still nobody talking about this? Still time to get before $1.00 dividend!

U SEA OP

Looking now

Nobody follow this one anymore? $1.00 per share cash dividend announced.

“United Maritime Corp. shares were up 12% to $3.37 Tuesday after the company said that its board of directors declared
a special cash dividend of $1 a share in connection with the recent profitable sale of its M/T Bluesea and M/T Parosea
vessels.

The international shipping company said the dividend is payable on or about Jan. 10 to the common shareholders of
record as of Dec. 12.

The vessels were delivered to the company in August and subsequently sold to an unaffiliated third party at a
significant premium. The M/T Parosea was delivered to its new owners on Nov. 8, and the delivery of the M/T Bluesea is
expected to be completed in early December.

The stock has more than doubled over the past three months.”

WOW cool link

https://www.marinetraffic.com/en/ais/home/centerx:-12.0/centery:25.0/zoom:4

I wonder if we could see USEAs tankers on the map... im going to see if at any way its possible.

Good grabs, ive been in and out of this one... back in, might have an excelletn future here... buyback news, tankers being delivered. The storm is calming and the money should be flowing easier now.

Grabbing some $1.41s nice buyback news today

$USEA which to Greek shipping dilution scams means nothing...I've been telling people that their whole business is siphoning US retail dollars into Greece to buy their shiny new ships for over a decade now. About 10 have been delisted after Nasdaq wouldn't let them reverse split anymore.

This will drop under $1 like all the others and just keep repeating the cycle.

Looking good today

AMAZING discount to the recent public offering at 3.25!!

Eying closely, didnt load up too too heavy but have a few if it rises like it did before then win for all who didnt capitulate at these levels below 2.

Should be a great week here. Offering closed at 3.25!!

Time to move up, back to base from this morning.

$USEA yep and a new layer of bagholders remember that Greek shippers dilute into their own news the hardest.

Deal closed!!!!

No they haven't I bet there's another one close behind it.

Disclosure: Short from mid $5's > Greek shipping scam.

Did they close the offering?

As part of the "spinoff" $SHIP holders were gifted 80 cent $USEA shares they've been unloading..so one Greek dilution scam spins off another this must be their new tactic.

You are extremely rude!

Those that follow you loose money too

You sound really stupid ?? good luck with whatever it is your doing on this board meathead

Those that bought last Friday were deceived to believe that it was going to be $7.5…

When is that miracle supposed to happen? So far, they changed the offering price from $7.5 to $3.25…

Borrow Rate over 600% with zero shares available to short.
If this gets volume and doesn't go up, then there is nothing right, left in the stock market.

https://fintel.io/ss/us/usea

The Company has 8,862,004 Common Shares issued and outstanding as of the date hereof, reflecting the exercise of certain of the Pre-Funded Warrants issued in the Offering.


https://sec.report/Document/0001140361-22-026528/#ny20004194x16_6k.htm

Where u see July 20. That's false

No set time patience

Was not it supposed to close yesterday?

Let's see if offering closes after hours. ?? to 4$

United Maritime Announces Pricing of $26.0 Million Public Offering
July 18 2022 - 09:10AM
GlobeNewswire Inc.
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United Maritime Corporation (the “Company”) (NASDAQ: USEA), an international shipping company specializing in worldwide seaborne transportation services, announced today the pricing of a public offering of 8,000,000 units at a price of $3.25 per unit. Each unit consists of one common share (or pre-funded warrant in lieu thereof) and one Class A warrant to purchase one common share, and will immediately separate upon issuance. The gross proceeds of the offering to the Company, before discounts and commissions and estimated offering expenses, are expected to be approximately $26.0 million.
Each Class A warrant is immediately exercisable for one common share at an exercise price of $3.25 per share and will expire five years from issuance. The offering is expected to close on or about July 20, 2022, subject to customary closing conditions.

Maxim Group LLC is acting as the sole placement agent in connection with the offering.

The offering is being conducted pursuant to the Company's registration statement on Form F-1 (File No. 333-266099) previously filed with and subsequently declared effective by the Securities and Exchange Commission (“SEC”) on July 18, 2022. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus relating to this offering, when available, may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at (212) 895-3745.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About United Maritime Corporation

United Maritime Corporation is an international shipping company specializing in worldwide seaborne transportation services. Upon delivery of its newly-acquired vessels, the Company’s fleet will consist of four tanker vessels and one dry bulk vessel with an aggregate cargo carrying capacity of approximately 617,014 dwt.

The Company is incorporated under the laws of the Republic of the Marshall Islands and has executive offices in Glyfada, Greece. The Company's common shares trade on the Nasdaq Capital Market under the symbol “USEA”.

Please visit the Company’s website at: www.unitedmaritime.gr

Forward-Looking Statements

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events. Words such as "may", "should", "expects", "intends", "plans", "believes", "anticipates", "hopes", "estimates" and variations of such words and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, shipping industry trends, including charter rates, vessel values and factors affecting vessel su

It sure is a violation but that's how they operate and the SEC seems to care less as long as their filings are up to date where they tell everyone in plain English how they intend to rob anyone who invests.

I can name tens of them that have long been delisted I remember $NEWL was a real beauty.

In the previous filing,they said that the public offering is going to be at $7.50 per unit. Today, they announced $3.25 per unit… That is a violation!

$USEA another Greek shipping scam pumped and dumped they'll keep doing offerings until under $1 then R/S and repeat.

https://www.marketwatch.com/story/united-maritime-prices-public-offering-of-8-million-units-271658150318

Picked up 75k for a $5 sell…

8M OFFERING NEWS 3.25 (THANKS FOR $2’s)

,,,,,,,TO DA MOOOON!!!!!!

,,,,,,,USEA everything that pos IMPP WAS…NOT!!!