United Maritime Executes Value-Accretive Transactions, Generating Significant Liquidity and Investment in Capesize Sector
Rhea-AI Summary
United Maritime (NASDAQ: USEA) executed coordinated transactions on Feb 17, 2026 that are expected to materially improve earnings and free cash flow. The company will sell its ECV JV stake for ~€13.0 million (realising ~€1.7 million profit), sell M/V Cretansea for $14.7 million (net cash ~ $6.0 million), and took an 18-month bareboat charter for a 181,453 dwt Capesize with a $5.5 million down payment, $9,450/day rate, and a $22.1 million purchase obligation. Total released liquidity is estimated at approximately $15.5 million, with proceeds targeted for redeployment and shareholder returns.
Positive
- Estimated liquidity release of approximately $15.5 million
- ECV investment profit of approximately €1.7 million on sale
- M/V Cretansea net cash proceeds of approximately $6.0 million after debt repayment
- Immediate Capesize exposure via 181,453 dwt bareboat with $9,450/day
Negative
- Purchase obligation of $22.1 million at end of bareboat charter
- Down payment of $5.5 million reduces near-term cash flexibility
- Gross sale price $14.7 million yields only ~$6.0 million net after debt
News Market Reaction
On the day this news was published, USEA gained 4.40%, reflecting a moderate positive market reaction. Our momentum scanner triggered 4 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $741K to the company's valuation, bringing the market cap to $18M at that time. Trading volume was above average at 1.8x the daily average, suggesting increased trading activity.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
USEA gained 1.68% with mixed peer action: OP up 7.81%, GLBS up 1.79%, PSHG up 0.97%, CTRM up 0.46%, while EDRY fell 8%. No momentum scanner signals or common news themes were detected.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 11 | Q3 2025 earnings | Positive | +2.9% | Q3 2025 results with net income, EBITDA and continued dividend payments. |
| Nov 06 | Earnings date set | Neutral | -3.3% | Announcement of release date for Q3 and nine‑month 2025 financial results. |
| Sep 30 | Profitable vessel sale | Positive | -3.6% | Profitable sale of oldest Capesize vessel, freeing cash and lowering fleet age. |
News around asset sales and earnings has produced mixed reactions, with some profitable divestments met by negative price moves.
Recent history shows United balancing earnings delivery with active fleet and capital management. In Q3 2025, it reported net revenues of $11.0M, net income of $1.1M, and declared a $0.09 dividend, following prior quarterly payouts. On Sep 30, 2025, it completed a profitable sale of its oldest Capesize vessel, generating net cash proceeds of $8.2M and reducing average fleet age. Today’s announcement continues this pattern of recycling capital from older or non-core assets into targeted dry-bulk exposure.
Market Pulse Summary
This announcement details a coordinated capital reallocation: monetizing an ECV JV for about €13.0M with a €1.7M profit, selling the 2009-built Cretansea for $14.7M and roughly $6.0M net cash, and entering an 18‑month Capesize bareboat at $9,450 per day plus a $22.1M purchase obligation. Investors may track how these moves affect free cash flow, leverage, and alignment with earlier fleet divestments and dividend policies.
Key Terms
bareboat charter financial
kamsarmax technical
capesize technical
AI-generated analysis. Not financial advice.
GLYFADA, Greece, Feb. 17, 2026 (GLOBE NEWSWIRE) -- 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
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
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
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
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
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.
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, including with respect to the share repurchases, market trends and shareholder returns. Words such as “may”, “should”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. 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, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, impacts of litigation, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; risks arising from trade disputes between the U.S. and China, including the re-imposition of reciprocal port fees; broader market impacts arising from trade disputes or war (or threatened war) or international hostilities, such as between the U.S. and Venezuela, China and Taiwan, Israel and Hamas or Iran and Russia and Ukraine; risks associated with the length and severity of pandemics; and other factors listed from time to time in the Company’s filings with the SEC, including its most recent annual report on Form 20-F. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
For further information please contact:
United Investor Relations
Tel: +30 213 0181 522
E-mail: ir@usea.gr
Capital Link, Inc.
Paul Lampoutis
230 Park Avenue Suite 1540
New York, NY 10169
Tel: (212) 661-7566
E-mail: usea@capitallink.com
FAQ
How much liquidity did United Maritime (USEA) free up from the Feb 17, 2026 transactions?
What were the key terms of the ECV equity sale disclosed by United Maritime (USEA)?
What proceeds will United Maritime (USEA) receive from the sale of M/V Cretansea and when is delivery expected?
What are the financial commitments tied to the 18-month bareboat charter of the Capesize for United Maritime (USEA)?
How will the MV Dukeship bareboat charter affect United Maritime's (USEA) cash flow during the charter period?
What does United Maritime (USEA) plan to do with the approximately $15.5 million of released capital?
