Imperial Petroleum, owned by Haris Vafias, recorded strong profitability, significant liquidity enhancement and impressive fleet renewal in the second quarter of 2025.
The company, which is active in the maritime transportation of oil and dry bulk cargo, continues to strengthen its position in an environment characterized by strategic investments and favorable market prospects.
Imperial Petroleum is the third listed shipping company of Vafias’ interests, which is showing positive results, following the profitability path of the other two companies in the group (StealthGas and C3iS).
The operational utilization of Imperial Petroleum’s fleet reached 83.1% in the second quarter of 2025, compared to 80.9% in the corresponding quarter of 2024.
Moreover, 60% of the ships’ employment days were on time charters, while 36.8% were on the spot market.
The most defining event of the quarter was the impressive increase in the fleet: from 12 ships at the beginning of April, the company reached 19 ships at the end of June.
These are seven new deliveries, including supramax and kamsarmax bulk carriers (Supra Pasha, Supra Monarch, Eco Sikoussis, Supra Duke, Eco Czar, Supra Sovereign and Supra Baron).
This expansion raises the book value of the fleet to over 350 million dollars, recording an increase of 54.4% in just one quarter, while after these deliveries the company’s fleet has a total capacity of 1.2 million dwt.
In this context, the CEO of Imperial Petroleum appeared proud – as he said – of the fact that the recent fleet expansion was completed – a significant milestone for the company. “Today we operate a diversified fleet of 19 vessels, all built outside of China.”
He also referred to the course of the two sectors in which the listed company operates, noting that if the current conditions in the tanker and bulk carrier markets remain favorable, “we hope that in the second half of the year we will fully utilize our fleet and present even better results.”
