3. Discontinued Operations

Following the announcement of the Company on November 13, 2023, of its intention to shift its business focus towards liquified natural gas and energy transition shipping and gradually divest from its non-core assets, the Company entered into 12 memoranda of agreement (“MOA”) with third parties for the disposal of 12 container carrier vessels. The Company determined that the assets and liabilities, results of operations and cash flows of the 12 container carrier vessels met the criteria to be reported in discontinued operations. The container carrier vessels that the Company sold following the announcement are listed below.

Discontinued Operations - Memoranda of Agreement for the Sale of 12 Container Vessels(Table)

Summarized selected operating results of the discontinued operations for the six-month periods ended June 30, 2025 and 2024 are as follows:

Discontinued Operations - Operating Results of the Discontinued Operations (Table)

3. Discontinued Operations – Continued

Summarized selected balance sheet information from discontinued operations as of June 30, 2025 and December 31, 2024, was as follows:

Discontinued Operations - Balance Sheet Information from Discontinued Operations (Table)

As of June 30, 2025, the Company disposed the remaining two of the 12 container carrier vessels agreed to sell. The M/V Hyundai Privilege and the M/V Hyundai Platinum were disposed of on January 10, 2025 and March 10, 2025, respectively.

For the six-month period ended June 30, 2025, the Company recognized a gain on sale of vessels from discontinued operations which is analyzed as follows:

Discontinued Operations - Gain on Sale of Vessels(Table)