United Maritime boosts liquidity with asset rotation
United Maritime Corporation reports a set of asset rotation moves designed to boost liquidity and focus on higher-earning dry bulk assets.
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Form Type
6-K
Rhea-AI Filing Summary
United Maritime Corporation reports a set of asset rotation moves designed to boost liquidity and focus on higher-earning dry bulk assets. The company agreed to sell its equity interest in a Norwegian joint venture owning an Energy Construction Vessel for approximately €13.0 million, realizing a profit of about €1.7 million, with closing expected by May 31, 2026. It also signed a definitive agreement to sell its 2009-built Kamsarmax vessel M/V Cretansea for an aggregate net price of $14.7 million, expected to generate roughly $6.0 million in net cash after debt repayment and to be delivered to the buyer by May 25, 2026. In parallel, United took delivery of the 2010-built Capesize vessel MV Dukeship under an 18‑month bareboat charter with Seanergy Maritime, advancing a $5.5 million down payment, agreeing to a daily charter rate of $9,450 and a $22.1 million purchase obligation at the end of the charter. These coordinated transactions are estimated to release approximately $15.5 million of liquidity while shifting the fleet mix toward the Capesize segment and reducing exposure to older tonnage.
Insights
United rotates capital from older and non-core assets into Capesize exposure while boosting liquidity.
United Maritime is crystallizing gains on a non-core offshore investment and recycling capital out of an older Kamsarmax into a younger Capesize via bareboat charter. The ECV stake sale for approximately €13.0 million, with a profit of about €1.7 million, illustrates its early-entry, value-realization approach.
The M/V Cretansea sale for $14.7 million, yielding around $6.0 million net after debt, frees cash from an aging vessel with limited upside. Simultaneously, the 18‑month bareboat for MV Dukeship, with a $5.5 million down payment, $9,450 daily hire and a $22.1 million end-of-charter purchase obligation, increases leverage to the Capesize market.
The company estimates about $15.5 million of liquidity released from these moves, while future obligations under the bareboat structure remain significant. Actual benefits will depend on Capesize charter rates and successful closing of the ECV and vessel sale transactions by May 2026, as outlined.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What transactions did United Maritime (USEA) announce in this 6-K filing?
United Maritime announced three coordinated moves: selling its equity stake in an Energy Construction Vessel joint venture, selling its 2009-built Kamsarmax M/V Cretansea, and entering an 18-month bareboat charter for the 2010-built Capesize vessel MV Dukeship with a purchase obligation.
How much liquidity does United Maritime (USEA) expect from these transactions?
The company estimates combined liquidity release of approximately $15.5 million from monetizing its offshore ECV investment and selling the M/V Cretansea. This capital is intended to reinforce cash reserves and support future accretive transactions and shareholder returns, subject to market conditions and transaction completion.
What are the key terms of United Maritime’s Capesize bareboat charter for MV Dukeship?
United entered an 18-month bareboat charter with Seanergy for MV Dukeship, advancing a $5.5 million down payment. The charter includes a daily hire of $9,450 and a $22.1 million purchase obligation at the end of the charter, giving exposure to the Capesize dry bulk market.
What are the financial details of United Maritime’s sale of the M/V Cretansea?
United agreed to sell the 81,508 dwt, 2009-built Kamsarmax M/V Cretansea for an aggregate net sale price of $14.7 million. After repaying associated debt, the transaction is expected to generate approximately $6.0 million in net cash proceeds and reduce older fleet exposure.
How is United Maritime’s offshore ECV investment monetization structured?
United is selling its equity interest in the Norwegian Energy Construction Vessel project for approximately €13.0 million, realizing a profit of about €1.7 million. Closing is expected by May 31, 2026, after which United will no longer hold an equity stake in the project.
How will these transactions change United Maritime’s fleet composition?
United currently operates six dry bulk vessels totaling 577,750 dwt. After completing the sale of the M/V Cretansea, the operating fleet will consist of five vessels—one Capesize, one Kamsarmax and three Panamax—with a combined cargo capacity of 496,242 dwt, increasing Capesize weighting.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of February 2026
Commission File Number: 001-41413
UNITED MARITIME CORPORATION
(Translation of registrant’s name into English)
154 Vouliagmenis Avenue
166 74 Glyfada
Athens, Greece
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
| Form 20-F ☒ | Form 40-F ☐ |
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Attached to this report on Form 6-K as Exhibit 99.1 is a copy of the press
release of United Maritime Corporation (the “Company”) dated February 17, 2026, titled “United Maritime Executes Value-Accretive Transactions, Generating Significant Liquidity and Investment in Capesize Sector.”
This report on Form 6-K and the exhibit hereto, excluding the statements attributed to the Company’s Chairman & Chief Executive Officer, are hereby incorporated by reference into the Company’s
Registration Statements on Form F-3 (File Nos. 333-273116 and 333-266099).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| UNITED MARITIME CORPORATION | |||
| (Registrant) | |||
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By:
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/s/ Stamatios Tsantanis
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Name:
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Stamatios Tsantanis
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Title:
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Chief Executive Officer
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| Date: February 19, 2026 | |||
Exhibit 99.1
United Maritime Executes Value-Accretive Transactions, Generating Significant Liquidity and Investment in Capesize Sector
February 17, 2026 – Glyfada, Greece – 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.
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