Latest news with #Suezmax
Yahoo
11 hours ago
- Business
- Yahoo
Tsakos Energy (TEN) Surges on Impressive Q1 Performance
The share price of Tsakos Energy Navigation Limited (NYSE:TEN) surged by 16.83% between June 11 and June 18, 2025, putting it among the Energy Stocks that Gained the Most This Week. A top-down view of a crane loading or unloading oil barrels from a Suezmax crude oil tanker. One of the largest marine transporters of energy in the world, Tsakos Energy Navigation Limited (NYSE:TEN) offers transportation services of crude oil and petroleum products to national and international oil companies and refineries. Tsakos Energy Navigation Limited (NYSE:TEN) posted impressive results for its Q1 2025 this week, reporting an adjusted EPS of $1.15 and beating expectations by a significant $0.75. The company's revenue of $161 million also managed to top estimates by $7 million. A major growth factor for the company is the recent award to build nine DP2 shuttle tankers for Transpetro/Petrobras, which propels TEN to become one of the largest shuttle tanker owners in the Brazilian offshore sector. Tsakos Energy Navigation Limited (NYSE:TEN) also announced a semi-annual dividend of $0.6 per share to be distributed on July 18, 2025. Following this payout, the company will have distributed over $900 million in dividends since its NYSE listing in 2002. While we acknowledge the potential of TEN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best Nuclear Energy Stocks to Buy Right Now and Disclosure: None. Sign in to access your portfolio
Associated Press
13-06-2025
- Business
- Associated Press
Heidmar Maritime Holdings Corp. Partners With B2i Digital as a Featured Company to Expand Investor Awareness
B2i Digital to Highlight Heidmar's 40+ Years of Maritime Excellence and Global Tanker Pool Management Platform NEW YORK, NY - June 13, 2025 ( NEWMEDIAWIRE ) - B2i Digital is pleased to announce that Heidmar Maritime Holdings Corp. (NASDAQ: HMR), a global leader in tanker pool and commercial management services, has been named a B2i Digital Featured Company. Through this partnership, B2i Digital will help expand Heidmar's investor engagement, highlighting its four-decade track record in maritime excellence, innovative digital platform, and strategic positioning in the global shipping industry. 'Heidmar represents a compelling opportunity for investors seeking exposure to the maritime transportation sector,' said David Shapiro, CEO of B2i Digital. 'With over 40 years of proven experience, a fleet of 51 vessels under management, and their innovative eFleetWatch platform, Heidmar demonstrates the kind of operational excellence and technological innovation that creates lasting value. We look forward to showcasing this established maritime leader to a broader investor audience.' 'Our partnership with B2i Digital reflects our commitment to building stronger relationships with the investment community as we continue to expand our platform,' said Pankaj Khanna, CEO of Heidmar Maritime Holdings Corp. 'Having recently completed our public listing and celebrated our 40th anniversary, we are focused on leveraging our decades of experience and industry relationships to deliver value for shareholders while serving our clients with the highest standards of safety and transparency.' Heidmar operates one of the maritime industry's most comprehensive commercial management platforms, with a managed fleet spanning VLCCs, Suezmax, Aframax/LR2, and MR class vessels. The company serves the global crude oil and refined petroleum product markets through strategically located offices in Athens, London, Singapore, Chennai, Hong Kong, and Dubai, with planned expansion into Houston. Heidmar's proprietary eFleetWatch digital platform provides real-time vessel tracking and management capabilities, offering both internal teams and external stakeholders transparent access to operational data. Under CEO Pankaj Khanna's leadership since 2019, Heidmar has experienced substantial growth, expanding from seven vessels to 51 vessels under management and 4 tankers under technical management. The company recently completed a successful business combination with MGO Global, leading to its February 2025 listing on the Nasdaq Capital Market under the ticker 'HMR.' About B2i Digital, Inc. B2i Digital, Inc. partners with leading investor conferences, public companies, and capital markets advisors through its signature programs: Featured Conference, Featured Company, and Featured Expert. Utilizing advanced digital marketing strategies, a network of 1.3 million investors, and highly targeted introductions, B2i Digital helps connect key stakeholders across the financial markets. The company was founded in 2021 by David Shapiro, who previously served as both an Investment Banker at Maxim Group and its Chief Marketing Officer. B2i Digital Contact Information: David Shapiro Chief Executive Officer B2i Digital, Inc. 212.579.4844 Office [email protected] About Heidmar Maritime Holdings Corp. Celebrating over 40 years of maritime excellence, Heidmar Maritime Holdings Corp. (NASDAQ: HMR) is a global provider of marine transportation services with five core business lines: management services for pools of vessels that share operational costs and revenues; commercial management of individual vessels; sale and purchase advisory for vessel transactions; technical management of tankers; and vessel chartering through charter-in and charter-out arrangements. As of this date, Heidmar commercially manages 39 vessels and technically manages 4 tanker vessels. Headquartered in Athens, Greece, with operations spanning London, Singapore, Chennai, Hong Kong, and Dubai, Heidmar provides comprehensive commercial management solutions for crude oil and refined petroleum product tankers. The company manages a diverse fleet of 60+ vessels, including VLCCs, Suezmax, Aframax/LR2, and MR tankers, serving leading oil companies, traders, and shipowners worldwide. Heidmar's commitment to safety, performance, relationships, and transparency is supported by its proprietary eFleetWatch digital platform, which delivers real-time vessel tracking and operational data to stakeholders. For more information, please visit . Heidmar Maritime Holdings Corp. Investor Contact Information: Nicolas Bornozis Capital Link, Inc. 230 Park Avenue, Suite 1540 New York, NY 10169 212.661.7566 [email protected] View the original release on
Business Upturn
05-06-2025
- Business
- Business Upturn
TOP Ships Inc. Announces Ex-Distribution Date for Planned Spin-Off of Rubico, a New Nasdaq-Listed Suezmax Tanker Company
ATHENS, Greece, June 05, 2025 (GLOBE NEWSWIRE) — TOP Ships Inc. (the 'Company' or 'TOP Ships') (NYSE American:TOPS), an international owner and operator of modern, fuel-efficient 'ECO' tanker vessels, announced today that the NYSE American (the 'NYSE') has established an ex-distribution date for the previously-announced proposed spin-off of two of its Suezmax tanker vessels. Rubico Inc. ('Rubico'), currently a subsidiary of TOP Ships, would become an independent publicly-traded company listed on the Nasdaq Capital Market as a result of the planned spin-off. The initial assets of Rubico will be the M/T Eco Malibu and M/T Eco West Coast, each a modern, high specification, scrubber-fitted and fuel-efficient 157,000 dwt Suezmax tanker. As part of the spin-off transaction, TOP Ships intends to distribute 100% of the common shares of Rubico pro rata to its securityholders of record as of June 16, 2025. The NYSE has established an ex-distribution date for the distribution of Rubico common shares of June 16, 2025. Beginning on that date, TOP Ships common shares will trade without an entitlement by the purchaser of such shares to Rubico common shares distributed in connection with the spin-off. TOP Ships securityholders do not need to take any action to receive Rubico shares to which they are entitled, and do not need to pay any consideration or surrender or exchange TOP Ships common shares or warrants. TOP Ships expects that approximately 3,057,337 Rubico common shares will be distributed in the Spin-Off at an assumed distribution ratio of one Rubico common share for every two TOP Ships common shares held by TOP Ships common shareholders (and warrantholders on an as-exercised basis) at the close of business on June 16, 2025. However, such distribution ratio will depend on the number of TOP Ships common shares outstanding, as well as the number of common shares into which outstanding TOP Ships common stock purchase warrants are exercisable, on June 16, 2025, the record date for the spin-off distribution. Concurrently and conditioned on the spin-off transaction, Rubico expects to raise $1.5 million in a private placement of its common shares at a purchase price of $20.00 per share. Rubico has filed a registration statement on Form 20-F with the Securities and Exchange Commission in connection with the proposed spin-off. The transaction remains subject to such registration statement being declared effective and the approval of the listing of Rubico's common shares on the Nasdaq Capital Market. There can be no assurance that the transaction will occur or, if it does occur, of its terms or timing. TOP Ships may, at any time, decide to abandon the spin-off. A copy of the registration statement on Form 20-F filed by Rubico is available at The information in the filed registration statement on Form 20-F is not final and remains subject to change. About TOP Ships Inc. TOP Ships Inc. is an international owner and operator of ocean-going vessels focusing on modern, fuel-efficient eco tanker vessels transporting crude oil, petroleum products (clean and dirty) and bulk liquid chemicals. For more information about TOP Ships Inc., visit its website: Cautionary Note Regarding Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts, including statements regarding the proposed spin-off and the prospects and strategies of TOP Ships and Rubico following the spin-off, the valuation of the shares of Rubico and TOP Ships following the spin-off, and the listing of Rubico's common shares on the Nasdaq Capital Market. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words 'believe,' 'anticipate,' 'intends,' 'estimate,' 'forecast,' 'project,' 'plan,' 'potential,' 'may,' 'should,' 'expect,' 'pending,' and similar expressions identify forward-looking statements. 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, our management's examination of historical operating trends, data contained in our records, and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs, or projections. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward‐looking statements as a result of developments occurring after the date of this communication. For further information please contact: Alexandros TsirikosChief Financial OfficerTOP Ships +30 210 812 8107 Email: [email protected]
Yahoo
05-06-2025
- Business
- Yahoo
TOP Ships Inc. Announces Ex-Distribution Date for Planned Spin-Off of Rubico, a New Nasdaq-Listed Suezmax Tanker Company
ATHENS, Greece, June 05, 2025 (GLOBE NEWSWIRE) -- TOP Ships Inc. (the 'Company' or 'TOP Ships') (NYSE American:TOPS), an international owner and operator of modern, fuel-efficient 'ECO' tanker vessels, announced today that the NYSE American (the 'NYSE') has established an ex-distribution date for the previously-announced proposed spin-off of two of its Suezmax tanker vessels. Rubico Inc. ('Rubico'), currently a subsidiary of TOP Ships, would become an independent publicly-traded company listed on the Nasdaq Capital Market as a result of the planned spin-off. The initial assets of Rubico will be the M/T Eco Malibu and M/T Eco West Coast, each a modern, high specification, scrubber-fitted and fuel-efficient 157,000 dwt Suezmax tanker. As part of the spin-off transaction, TOP Ships intends to distribute 100% of the common shares of Rubico pro rata to its securityholders of record as of June 16, 2025. The NYSE has established an ex-distribution date for the distribution of Rubico common shares of June 16, 2025. Beginning on that date, TOP Ships common shares will trade without an entitlement by the purchaser of such shares to Rubico common shares distributed in connection with the spin-off. TOP Ships securityholders do not need to take any action to receive Rubico shares to which they are entitled, and do not need to pay any consideration or surrender or exchange TOP Ships common shares or warrants. TOP Ships expects that approximately 3,057,337 Rubico common shares will be distributed in the Spin-Off at an assumed distribution ratio of one Rubico common share for every two TOP Ships common shares held by TOP Ships common shareholders (and warrantholders on an as-exercised basis) at the close of business on June 16, 2025. However, such distribution ratio will depend on the number of TOP Ships common shares outstanding, as well as the number of common shares into which outstanding TOP Ships common stock purchase warrants are exercisable, on June 16, 2025, the record date for the spin-off distribution. Concurrently and conditioned on the spin-off transaction, Rubico expects to raise $1.5 million in a private placement of its common shares at a purchase price of $20.00 per share. Rubico has filed a registration statement on Form 20-F with the Securities and Exchange Commission in connection with the proposed spin-off. The transaction remains subject to such registration statement being declared effective and the approval of the listing of Rubico's common shares on the Nasdaq Capital Market. There can be no assurance that the transaction will occur or, if it does occur, of its terms or timing. TOP Ships may, at any time, decide to abandon the spin-off. A copy of the registration statement on Form 20-F filed by Rubico is available at The information in the filed registration statement on Form 20-F is not final and remains subject to change. About TOP Ships Inc. TOP Ships Inc. is an international owner and operator of ocean-going vessels focusing on modern, fuel-efficient eco tanker vessels transporting crude oil, petroleum products (clean and dirty) and bulk liquid chemicals. For more information about TOP Ships Inc., visit its website: Cautionary Note Regarding Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts, including statements regarding the proposed spin-off and the prospects and strategies of TOP Ships and Rubico following the spin-off, the valuation of the shares of Rubico and TOP Ships following the spin-off, and the listing of Rubico's common shares on the Nasdaq Capital Market. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words 'believe,' 'anticipate,' 'intends,' 'estimate,' 'forecast,' 'project,' 'plan,' 'potential,' 'may,' 'should,' 'expect,' 'pending,' and similar expressions identify forward-looking statements. 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, our management's examination of historical operating trends, data contained in our records, and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs, or projections. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward‐looking statements as a result of developments occurring after the date of this communication. For further information please contact: Alexandros TsirikosChief Financial OfficerTOP Ships +30 210 812 8107Email: atsirikos@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
04-06-2025
- Business
- Yahoo
TOP Ships Inc. Announces Intention to Spin Off a New Nasdaq-Listed Suezmax Tanker Company
ATHENS, Greece, June 04, 2025 (GLOBE NEWSWIRE) -- TOP Ships Inc. (the 'Company' or 'TOP Ships') (NYSE American: TOPS), an international owner and operator of modern, fuel-efficient 'ECO' tanker vessels, announced today that it intends to effect a spin-off of two of its Suezmax tanker vessels. Rubico Inc. ('Rubico'), currently a subsidiary of TOP Ships, would become an independent publicly-traded company listed on the Nasdaq Capital Market as a result of the planned spin-off. The initial assets of Rubico will be the M/T Eco Malibu and M/T Eco West Coast, each a modern, high specification, scrubber-fitted and fuel-efficient 157,000 dwt Suezmax tanker. As part of the spin-off transaction, TOP Ships intends to distribute 100% of the common shares of Rubico to its securityholders of record as of June 16, 2025. The distribution of common shares of Rubico is expected to be made on or around June 30, 2025. Following the spin-off, there are expected to be no overlapping board members or executive officers between Rubico and TOP Ships. In the spin-off distribution, TOP Ships intends to distribute 100% of the common shares of Rubico pro rata to the common shareholders of TOP Ships and to all holders of outstanding common stock purchase warrants of TOP Ships on an as-exercised basis. TOP Ships securityholders do not need to take any action to receive Rubico shares to which they are entitled, and do not need to pay any consideration or surrender or exchange TOP Ships common shares. TOP Ships common shareholders (and warrantholders on an as-exercised basis) will receive one Rubico common share for every two TOP Ships common shares held at the close of business on June 16, 2025, the record date for the distribution. Fractional common shares of Rubico will not be distributed. Instead, the distribution agent will aggregate fractional common shares into whole shares, sell such whole shares in the open market at prevailing rates promptly after Rubico's common shares commence trading on the Nasdaq Capital Market, and distribute the net cash proceeds from the sales pro rata to each holder who would otherwise have been entitled to receive fractional common shares in the distribution. In connection with the spin-off transaction, Rubico expects to raise $1.5 million in a private placement of its common shares at a purchase price of $20.00 per share. The private placement will be conditioned on and is expected to close concurrently with the spin-off distribution. Rubico will file a registration statement on Form 20-F with the Securities and Exchange Commission in connection with the proposed spin-off. The transaction remains subject to such registration statement being declared effective and the approval of the listing of Rubico's common shares on the Nasdaq Capital Market. There can be no assurance that the transaction will occur or, if it does occur, of its terms or timing. TOP Ships may, at any time, decide to abandon the spin-off. A copy of the registration statement on Form 20-F filed by Rubico will be available at About TOP Ships Inc. TOP Ships Inc. is an international owner and operator of ocean-going vessels focusing on modern, fuel-efficient eco tanker vessels transporting crude oil, petroleum products (clean and dirty) and bulk liquid chemicals. For more information about TOP Ships Inc., visit its website: Cautionary Note Regarding Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts, including statements regarding the proposed spin-off and the prospects and strategies of TOP Ships and Rubico following the spin-off, the valuation of the shares of Rubico and TOP Ships following the spin-off, and the listing of Rubico's common shares on the Nasdaq Capital Market. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words 'believe,' 'anticipate,' 'intends,' 'estimate,' 'forecast,' 'project,' 'plan,' 'potential,' 'may,' 'should,' 'expect,' 'pending,' and similar expressions identify forward-looking statements. 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, our management's examination of historical operating trends, data contained in our records, and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs, or projections. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward‐looking statements as a result of developments occurring after the date of this communication. For further information please contact: Alexandros TsirikosChief Financial OfficerTOP Ships +30 210 812 8107Email: atsirikos@ in to access your portfolio
