Heidmar Maritime Holdings Corp. Appoints Industry Veteran Jagmeet Makkar as Director
Rhea-AI Summary
Heidmar Maritime Holdings (NASDAQ: HMR) appointed Jagmeet Makkar as an Independent Non-executive Director, effective February 16, 2025. Mr. Makkar brings over 40 years of shipping operations, commercial and risk management experience and will join the company’s Audit Committee.
He meets Nasdaq and SEC independence requirements, has no selection arrangements with other parties, and has a background in maritime executive education and mentoring. Management cited his technical expertise as strengthening oversight and governance.
Positive
- Director appointment effective February 16, 2025
- Over 40 years of shipping operations and risk management experience
- Named member of the Audit Committee
- Meets Nasdaq and SEC independence standards
Negative
- None.
News Market Reaction
On the day this news was published, HMR gained 7.97%, reflecting a notable positive market reaction. This price movement added approximately $4M to the company's valuation, bringing the market cap to $57M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Sector scanner shows 2 peers (e.g., DSX, VNTG) in downside momentum with moves around -2.5%, suggesting broader marine-shipping pressure alongside HMR’s recent softness.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 28 | Deal termination | Neutral | -2.4% | Termination of C/V A. Obelix acquisition with deposit returned, no financial impact. |
| Dec 22 | Fleet expansion | Positive | +2.2% | Multiple vessel additions signaling demand for management services and scalability. |
| Dec 15 | Shareholder meeting | Neutral | -6.4% | Annual meeting results with re-election of two Class I directors to 2028. |
| Nov 06 | Earnings update | Positive | +0.8% | Q3 2025 revenue up 117% YoY and positive adjusted net income from operations. |
| Nov 05 | Fleet expansion | Positive | +2.4% | Addition of super‑eco LR2 under full management supporting efficiency strategy. |
Operational expansion and earnings updates have generally seen modest positive alignment, while governance/administrative items have sometimes coincided with negative moves.
Over the past six months, Heidmar reported strong growth, with Q3 2025 revenue of $15.6M (up 117% YoY) and adjusted net income of $1.8M (Nov 6, 2025). Multiple fleet expansion releases on Nov 5 and Dec 22, 2025 coincided with positive price reactions. By contrast, governance or administrative milestones, such as the Dec 15, 2025 annual meeting and the Jan 28, 2026 acquisition termination (with no financial impact), were followed by share-price weakness. Today’s director appointment fits the recent theme of governance-focused news.
Market Pulse Summary
The stock moved +8.0% in the session following this news. A strong positive reaction aligns with the governance-enhancing nature of this announcement, as the company added an Independent Non-executive Director with over 40 years of maritime and risk-management experience and a role on the Audit Committee. Past fleet-expansion and earnings updates have often coincided with constructive trading. Investors would still need to weigh ongoing trading well below the 10.04 52-week high and the company’s broader profitability and cost trends when assessing sustainability.
Key Terms
independent non-executive director financial
audit committee financial
nasdaq listing standards regulatory
sec rules regulatory
AI-generated analysis. Not financial advice.
ATHENS, Greece and NEW YORK, Feb. 18, 2026 (GLOBE NEWSWIRE) -- Heidmar Maritime Holdings Corp. (the “Company” or “Heidmar”) (NASDAQ: HMR) is pleased to announce the appointment of Mr. Jagmeet Makkar as Independent Non-executive Director effective as of February 16, 2025. Mr. Makkar brings over 40 years of distinguished experience in shipping operations, commercial management, and risk management. He will also serve as a member of the Company’s Audit Committee.
In addition to his extensive background, Mr. Makkar has been a faculty member and mentor at leading maritime institutions worldwide, contributing extensively to executive education and professional training programs.
Mr. Makkar meets the independence requirements under the Nasdaq listing standards and SEC rules. There are no arrangements or understandings between Mr. Makkar and any other person pursuant to which he was selected as a director.
Pankaj Khanna, the Company’s Chief Executive Officer, stated:
“We are delighted to welcome Mr. Jagmeet Makkar as Director. His decades of experience in shipping, combined with his technical expertise will bring valuable perspective to our team and the Audit Committee as we continue to grow and strengthen our position in the maritime sector.”
About Heidmar, Inc.
Celebrating its 40th anniversary this year, Heidmar is an Athens-based, commercial and pool management business servicing the crude and product tanker market and is committed to safety, performance, relationships and transparency. With operations in Athens, London, Singapore, Chennai, Hong Kong and Dubai, Heidmar has a reputation as a reliable and responsible partner with a goal of maximizing our customers' profitability. Heidmar seeks to offer vessel owners a "one stop" solution for all maritime services in the crude oil and refined petroleum products shipping sectors. Heidmar believes its unique business model and extensive experience in the maritime industry allows the Company to achieve premier market coverage and utilization, as well as provide customers in the sector with seamless commercial transportation services. For more information, please visit www.heidmar.com.
Forward-Looking Statements
This release contains certain forward-looking statements within the meaning of the federal securities laws with respect to the Company. All statements other than statements of historical facts contained in this press release, including statements regarding the Company’s future results of operations and financial position, business strategy, prospective costs, timing and likelihood of success, plans and objectives of management for future operations, future results of current and anticipated operations of Heidmar are forward-looking statements. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Company management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company’s control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in the forward-looking statements include unforeseen liabilities, expansion and growth of the Company’s operations, the failure of counterparties to fully perform their contracts with the Company, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker or container vessel capacity, changes in the Company’s operating expenses, demand for the Company’s managed fleet, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general international geopolitical conditions and conflicts, potential disruption of shipping routes due to accidents or political events, vessel breakdowns and instances of off‐hires, and other factors. Please see the Company’s filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.
Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond the Company’s control, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. The Company does not give any assurance that it will achieve its expectations.
CONTACT INFORMATION:
Investor Relations/Media Contact:
Nicolas Bornozis / Daniela Guerrero
Capital Link, Inc.
230 Park Avenue, Suite 1540
New York, N.Y. 10169
Tel.: (212) 661-7566
Email: heidmar@capitallink.com
FAQ
Who is Jagmeet Makkar and when did Heidmar (HMR) appoint him as director?
What role will Jagmeet Makkar hold on Heidmar's (HMR) board and committees?
Does Jagmeet Makkar meet Nasdaq and SEC independence standards for HMR?
What expertise does Jagmeet Makkar bring to Heidmar (HMR)?
Will Jagmeet Makkar's appointment materially change Heidmar's governance?
Are there any conflicts or special arrangements tied to Jagmeet Makkar's selection at HMR?
