United Maritime Releases $15.5M, Sells MV Cretansea and Charters 181,453 dwt Capesize
United Maritime sold its energy construction vessel JV stake for €13.0 million, realising a €1.7 million profit, and agreed to sell its 2009-built MV Cretansea for $14.7 million gross, netting $6.0 million after debt repayment. It also chartered a 181,453 dwt Capesize vessel with a $5.5 million down payment, releasing $15.5 million liquidity.
1. Monetization of Offshore JV Stake
United Maritime sold its equity interest in a Norwegian energy construction vessel joint venture for €13.0 million, realising a profit of €1.7 million. The agreement is expected to close by May 31, 2026, after which the company will no longer hold a stake in the project.
2. Sale of M/V Cretansea
In January 2026, the company agreed to sell its 2009-built, 81,508 dwt Kamsarmax vessel, MV Cretansea, for $14.7 million gross. After repaying associated debt, the sale will generate approximately $6.0 million in net cash proceeds and reduce older tonnage exposure.
3. Capesize Charter Acquisition
United Maritime entered an 18-month bareboat charter for a 2010-built Japanese Capesize vessel, MV Dukeship, with a $5.5 million down payment, daily charter rate of $9,450, and a $22.1 million purchase obligation at charter end. This agreement is projected to enhance free-cash-flow potential and immediate exposure to the Capesize market.