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(“Seanergy” or “Parent”) on January 20, 2022 under the laws of the Republic of the Marshall Islands, having an initial share capital of 500 registered shares, of no par value, issued to the Parent. The Company completed the spin-off from Seanergy which became effective July 5, 2022. United’s common shares are listed on the Nasdaq Capital Market and began trading on July 6, 2022 under the symbol “USEA”. The Company is engaged in the ocean transportation of cargoes worldwide through the ownership and operation of vessels.</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="text-align: justify; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">The accompanying unaudited interim condensed consolidated financial statements include the accounts of United Maritime Corporation and its subsidiaries (collectively, the “Company” or “United”).</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="text-align: justify; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles, or U.S. GAAP, for interim financial information. Accordingly, they do not include all the information and notes required by U.S. GAAP for complete financial statements. These unaudited interim condensed consolidated financial statements have been prepared on the same basis and should be read in conjunction with the financial statements for the year ended December 31, 2025 included in the Company’s Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 8, 2026 and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments considered necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the periods presented. Operating results for the six-month period ended June 30, 2026 are not necessarily indicative of the results that might be expected for the fiscal year ending December 31, 2026.</div> <div style="text-align: justify; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The unaudited interim condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern. Accordingly, they do not include any adjustments that might result in the event that the Company is unable to continue as a going concern.</div> <div><br/></div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; color: rgb(0, 0, 0); border-spacing: 0;"> <tr> <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">a.</td> <td style="width: auto; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Subsidiaries in Consolidation:</div> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="color: rgb(0, 0, 0);"> </span><br/> </div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">United’s subsidiaries included in these unaudited interim condensed consolidated financial statements as of June 30, 2026:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; color: rgb(0, 0, 0); border-spacing: 0;"> <tr> <td style="width: 33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"> <div style="color: rgb(0, 0, 0); font-weight: bold;">Company</div> </td> <td style="width: 1.14%; vertical-align: bottom;"> </td> <td style="width: 18.04%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"> <div style="color: rgb(0, 0, 0); font-weight: bold;">Country of</div> <div style="color: rgb(0, 0, 0); font-weight: bold;">Incorporation</div> </td> <td style="width: 0.96%; vertical-align: bottom;"> </td> <td style="width: 15.04%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"> <div style="color: rgb(0, 0, 0); font-weight: bold;">Vessel name</div> </td> <td style="width: 1.16%; vertical-align: bottom;"> </td> <td style="width: 15.18%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"> <div style="color: rgb(0, 0, 0); font-weight: bold;">Date of Delivery</div> </td> <td style="width: 1.16%; vertical-align: bottom;"> </td> <td style="width: 15.2%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"> <div style="color: rgb(0, 0, 0); font-weight: bold;">Date of</div> <div style="color: rgb(0, 0, 0); font-weight: bold;">Sale/Disposal</div> </td> </tr> <tr> <td style="width: 33%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">United Management Corp. (1)(2)</div> </td> <td style="width: 1.14%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 18.04%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">Marshall Islands</div> </td> <td style="width: 0.96%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.04%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">N/A</div> </td> <td style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.18%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">N/A</div> </td> <td style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.2%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">N/A</div> </td> </tr> <tr> <td style="width: 33%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Sea Glorius Shipping Co. (1)(3)</div> </td> <td style="width: 1.14%; vertical-align: top;"> </td> <td style="width: 18.04%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Marshall Islands</div> </td> <td style="width: 0.96%; vertical-align: top;"> </td> <td style="width: 15.04%; vertical-align: top;"> <div style="color: rgb(0, 0, 0); font-style: italic;">Gloriuship</div> </td> <td style="width: 1.16%; vertical-align: top;"> </td> <td style="width: 15.18%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">July 6, 2022</div> </td> <td style="width: 1.16%; vertical-align: top;"> </td> <td style="width: 15.2%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">June 10, 2025</div> </td> </tr> <tr> <td style="width: 33%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">Minoansea Maritime Co. (1)(3)</div> </td> <td style="width: 1.14%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 18.04%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">Marshall Islands</div> </td> <td style="width: 0.96%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.04%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0); font-style: italic;">Minoansea</div> </td> <td style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.18%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">August 30, 2022</div> </td> <td style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.2%; vertical-align: top; background-color: rgb(204, 238, 255); white-space: nowrap;"> <div style="color: rgb(0, 0, 0);">December 22, 2022</div> </td> </tr> <tr> <td style="width: 33%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Good Maritime Co. (1)(3)</div> </td> <td style="width: 1.14%; vertical-align: top;"> </td> <td style="width: 18.04%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Liberia</div> </td> <td style="width: 0.96%; vertical-align: top;"> </td> <td style="width: 15.04%; vertical-align: top;"> <div style="color: rgb(0, 0, 0); font-style: italic;">Goodship</div> </td> <td style="width: 1.16%; vertical-align: top;"> </td> <td style="width: 15.18%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">February 10, 2023</div> </td> <td style="width: 1.16%; vertical-align: top;"> </td> <td style="width: 15.2%; vertical-align: top; white-space: nowrap;"> <div style="color: rgb(0, 0, 0);">September 16, 2025<br/> </div> </td> </tr> <tr> <td style="width: 33%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">Traders Maritime Co. (1)(3)</div> </td> <td style="width: 1.14%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 18.04%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">Marshall Islands</div> </td> <td style="width: 0.96%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.04%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0); font-style: italic;">Tradership</div> </td> <td style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.18%; vertical-align: top; background-color: rgb(204, 238, 255); white-space: nowrap;"> <div style="color: rgb(0, 0, 0);">February 28, 2023</div> </td> <td style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.2%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">August 15, 2025<br/> </div> </td> </tr> <tr> <td style="width: 33%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Chrisea Maritime Co. (1)</div> </td> <td style="width: 1.14%; vertical-align: top;"> </td> <td style="width: 18.04%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Marshall Islands</div> </td> <td style="width: 0.96%; vertical-align: top;"> </td> <td style="width: 15.04%; vertical-align: top;"> <div style="color: rgb(0, 0, 0); font-style: italic;">Chrisea</div> </td> <td style="width: 1.16%; vertical-align: top;"> </td> <td style="width: 15.18%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">February 21, 2023</div> </td> <td style="width: 1.16%; vertical-align: top;"> </td> <td style="width: 15.2%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">N/A</div> </td> </tr> <tr> <td style="width: 33%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">Oasea Maritime Co. (1)(3)</div> </td> <td style="width: 1.14%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 18.04%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">Marshall Islands</div> </td> <td style="width: 0.96%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.04%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0); font-style: italic;">Oasea</div> </td> <td style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.18%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">March 27, 2023</div> </td> <td style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.2%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">July 19, 2024</div> </td> </tr> <tr> <td style="width: 33%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Cretansea Maritime Co. (1)(3)</div> </td> <td style="width: 1.14%; vertical-align: top;"> </td> <td style="width: 18.04%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Marshall Islands</div> </td> <td style="width: 0.96%; vertical-align: top;"> </td> <td style="width: 15.04%; vertical-align: top;"> <div style="color: rgb(0, 0, 0); font-style: italic;">Cretansea</div> </td> <td style="width: 1.16%; vertical-align: top;"> </td> <td style="width: 15.18%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">April 26, 2023</div> </td> <td style="width: 1.16%; vertical-align: top;"> </td> <td style="width: 15.2%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">May 19, 2026</div> </td> </tr> <tr> <td style="width: 33%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">Synthesea Maritime Co. (1)(4)</div> </td> <td style="width: 1.14%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 18.04%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">Liberia</div> </td> <td style="width: 0.96%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.04%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0); font-style: italic;">Synthesea</div> </td> <td style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.18%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">August 1, 2023</div> </td> <td style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.2%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">August 1, 2024<br/> </div> </td> </tr> <tr> <td style="width: 33%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Exelixsea Maritime Co. (1)(4)</div> </td> <td style="width: 1.14%; vertical-align: top;"> </td> <td style="width: 18.04%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Marshall Islands</div> </td> <td style="width: 0.96%; vertical-align: top;"> </td> <td style="width: 15.04%; vertical-align: top;"> <div style="color: rgb(0, 0, 0); font-style: italic;">Exelixsea</div> </td> <td style="width: 1.16%; vertical-align: top;"> </td> <td style="width: 15.18%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">August 29, 2023</div> </td> <td style="width: 1.16%; vertical-align: top;"> </td> <td style="width: 15.2%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">March 27, 2024</div> </td> </tr> <tr> <td rowspan="1" style="width: 33%; vertical-align: top; background-color: rgb(204, 238, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; word-spacing: 0px; white-space: normal; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">Nisea Maritime Co. (1)(4)</span></td> <td rowspan="1" style="width: 1.14%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td rowspan="1" style="width: 18.04%; vertical-align: top; background-color: rgb(204, 238, 255);">Liberia</td> <td rowspan="1" style="width: 0.96%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td rowspan="1" style="width: 15.04%; vertical-align: top; background-color: rgb(204, 238, 255);"><span style="font-style: italic;">Nisea</span><br/> </td> <td rowspan="1" style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td rowspan="1" style="width: 15.18%; vertical-align: top; background-color: rgb(204, 238, 255); white-space: nowrap;">September 10, 2024<br/> </td> <td rowspan="1" style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td rowspan="1" style="width: 15.2%; vertical-align: top; background-color: rgb(204, 238, 255);">March 10, 2026<br/> </td> </tr> <tr> <td rowspan="1" style="width: 33%; vertical-align: top; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">RGI Marine Holdings AS (5)</span> <br/> </td> <td rowspan="1" style="width: 1.14%; vertical-align: top;"> </td> <td rowspan="1" style="width: 18.04%; vertical-align: top;">Norway <br/> </td> <td rowspan="1" style="width: 0.96%; vertical-align: top;"> </td> <td rowspan="1" style="width: 15.04%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">N/A</div> </td> <td rowspan="1" style="width: 1.16%; vertical-align: top;"> </td> <td rowspan="1" style="width: 15.18%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">N/A</div> </td> <td rowspan="1" style="width: 1.16%; vertical-align: top;"> </td> <td rowspan="1" style="width: 15.2%; vertical-align: top;"> N/A<br/> </td> </tr> <tr> <td rowspan="1" style="width: 33%; vertical-align: top; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);"><span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 0px; word-spacing: 0px; white-space: nowrap; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">Duke Maritime Co. (1)(4)</span></td> <td rowspan="1" style="width: 1.14%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td rowspan="1" style="width: 18.04%; vertical-align: top; background-color: rgb(204, 238, 255);">Marshall Islands</td> <td rowspan="1" style="width: 0.96%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td rowspan="1" style="width: 15.04%; vertical-align: top; background-color: rgb(204, 238, 255); font-style: italic;">Dukeship</td> <td rowspan="1" style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td rowspan="1" style="width: 15.18%; vertical-align: top; background-color: rgb(204, 238, 255);">February 12, 2026</td> <td rowspan="1" style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td rowspan="1" style="width: 15.2%; vertical-align: top; background-color: rgb(204, 238, 255);">N/A </td> </tr> <tr> <td rowspan="1" style="width: 33%; vertical-align: top; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Squire Maritime Co. (1)(4)<br/> </td> <td rowspan="1" style="width: 1.14%; vertical-align: top;"> </td> <td rowspan="1" style="width: 18.04%; vertical-align: top;">Liberia</td> <td rowspan="1" style="width: 0.96%; vertical-align: top;"> </td> <td rowspan="1" style="width: 15.04%; vertical-align: top; font-style: italic;">Squireship</td> <td rowspan="1" style="width: 1.16%; vertical-align: top;"> </td> <td rowspan="1" style="width: 15.18%; vertical-align: top;">June 8, 2026</td> <td rowspan="1" style="width: 1.16%; vertical-align: top;"> </td> <td rowspan="1" style="width: 15.2%; vertical-align: top; font-size: 10pt;">June 8, 2026<br/> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; color: rgb(0, 0, 0); border-spacing: 0;"> <tr> <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">(1)</td> <td style="width: auto; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Subsidiaries wholly owned</div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; color: rgb(0, 0, 0); border-spacing: 0;"> <tr> <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">(2)</td> <td style="width: auto; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Management company</div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; color: rgb(0, 0, 0); border-spacing: 0;"> <tr> <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">(3)</td> <td style="width: auto; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Dormant companies<br/> </div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; color: rgb(0, 0, 0); border-spacing: 0;"> <tr> <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">(4)</td> <td style="width: auto; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Bareboat charterers</div> </td> </tr> </table> <div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; color: rgb(0, 0, 0); border-spacing: 0;"> <tr> <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">(5)</td> <td style="width: auto; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Majority owned subsidiary (Note 9)</div> </td> </tr> </table> </div> 500 <div style="text-align: justify; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles, or U.S. GAAP, for interim financial information. Accordingly, they do not include all the information and notes required by U.S. GAAP for complete financial statements. These unaudited interim condensed consolidated financial statements have been prepared on the same basis and should be read in conjunction with the financial statements for the year ended December 31, 2025 included in the Company’s Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 8, 2026 and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments considered necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the periods presented. Operating results for the six-month period ended June 30, 2026 are not necessarily indicative of the results that might be expected for the fiscal year ending December 31, 2026.</div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">United’s subsidiaries included in these unaudited interim condensed consolidated financial statements as of June 30, 2026:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; color: rgb(0, 0, 0); border-spacing: 0;"> <tr> <td style="width: 33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"> <div style="color: rgb(0, 0, 0); font-weight: bold;">Company</div> </td> <td style="width: 1.14%; vertical-align: bottom;"> </td> <td style="width: 18.04%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"> <div style="color: rgb(0, 0, 0); font-weight: bold;">Country of</div> <div style="color: rgb(0, 0, 0); font-weight: bold;">Incorporation</div> </td> <td style="width: 0.96%; vertical-align: bottom;"> </td> <td style="width: 15.04%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"> <div style="color: rgb(0, 0, 0); font-weight: bold;">Vessel name</div> </td> <td style="width: 1.16%; vertical-align: bottom;"> </td> <td style="width: 15.18%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"> <div style="color: rgb(0, 0, 0); font-weight: bold;">Date of Delivery</div> </td> <td style="width: 1.16%; vertical-align: bottom;"> </td> <td style="width: 15.2%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"> <div style="color: rgb(0, 0, 0); font-weight: bold;">Date of</div> <div style="color: rgb(0, 0, 0); font-weight: bold;">Sale/Disposal</div> </td> </tr> <tr> <td style="width: 33%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">United Management Corp. (1)(2)</div> </td> <td style="width: 1.14%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 18.04%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">Marshall Islands</div> </td> <td style="width: 0.96%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.04%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">N/A</div> </td> <td style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.18%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">N/A</div> </td> <td style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.2%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">N/A</div> </td> </tr> <tr> <td style="width: 33%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Sea Glorius Shipping Co. (1)(3)</div> </td> <td style="width: 1.14%; vertical-align: top;"> </td> <td style="width: 18.04%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Marshall Islands</div> </td> <td style="width: 0.96%; vertical-align: top;"> </td> <td style="width: 15.04%; vertical-align: top;"> <div style="color: rgb(0, 0, 0); font-style: italic;">Gloriuship</div> </td> <td style="width: 1.16%; vertical-align: top;"> </td> <td style="width: 15.18%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">July 6, 2022</div> </td> <td style="width: 1.16%; vertical-align: top;"> </td> <td style="width: 15.2%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">June 10, 2025</div> </td> </tr> <tr> <td style="width: 33%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">Minoansea Maritime Co. (1)(3)</div> </td> <td style="width: 1.14%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 18.04%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">Marshall Islands</div> </td> <td style="width: 0.96%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.04%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0); font-style: italic;">Minoansea</div> </td> <td style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.18%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">August 30, 2022</div> </td> <td style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.2%; vertical-align: top; background-color: rgb(204, 238, 255); white-space: nowrap;"> <div style="color: rgb(0, 0, 0);">December 22, 2022</div> </td> </tr> <tr> <td style="width: 33%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Good Maritime Co. (1)(3)</div> </td> <td style="width: 1.14%; vertical-align: top;"> </td> <td style="width: 18.04%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Liberia</div> </td> <td style="width: 0.96%; vertical-align: top;"> </td> <td style="width: 15.04%; vertical-align: top;"> <div style="color: rgb(0, 0, 0); font-style: italic;">Goodship</div> </td> <td style="width: 1.16%; vertical-align: top;"> </td> <td style="width: 15.18%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">February 10, 2023</div> </td> <td style="width: 1.16%; vertical-align: top;"> </td> <td style="width: 15.2%; vertical-align: top; white-space: nowrap;"> <div style="color: rgb(0, 0, 0);">September 16, 2025<br/> </div> </td> </tr> <tr> <td style="width: 33%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">Traders Maritime Co. (1)(3)</div> </td> <td style="width: 1.14%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 18.04%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">Marshall Islands</div> </td> <td style="width: 0.96%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.04%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0); font-style: italic;">Tradership</div> </td> <td style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.18%; vertical-align: top; background-color: rgb(204, 238, 255); white-space: nowrap;"> <div style="color: rgb(0, 0, 0);">February 28, 2023</div> </td> <td style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.2%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">August 15, 2025<br/> </div> </td> </tr> <tr> <td style="width: 33%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Chrisea Maritime Co. (1)</div> </td> <td style="width: 1.14%; vertical-align: top;"> </td> <td style="width: 18.04%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Marshall Islands</div> </td> <td style="width: 0.96%; vertical-align: top;"> </td> <td style="width: 15.04%; vertical-align: top;"> <div style="color: rgb(0, 0, 0); font-style: italic;">Chrisea</div> </td> <td style="width: 1.16%; vertical-align: top;"> </td> <td style="width: 15.18%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">February 21, 2023</div> </td> <td style="width: 1.16%; vertical-align: top;"> </td> <td style="width: 15.2%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">N/A</div> </td> </tr> <tr> <td style="width: 33%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">Oasea Maritime Co. (1)(3)</div> </td> <td style="width: 1.14%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 18.04%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">Marshall Islands</div> </td> <td style="width: 0.96%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.04%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0); font-style: italic;">Oasea</div> </td> <td style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.18%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">March 27, 2023</div> </td> <td style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.2%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">July 19, 2024</div> </td> </tr> <tr> <td style="width: 33%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Cretansea Maritime Co. (1)(3)</div> </td> <td style="width: 1.14%; vertical-align: top;"> </td> <td style="width: 18.04%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Marshall Islands</div> </td> <td style="width: 0.96%; vertical-align: top;"> </td> <td style="width: 15.04%; vertical-align: top;"> <div style="color: rgb(0, 0, 0); font-style: italic;">Cretansea</div> </td> <td style="width: 1.16%; vertical-align: top;"> </td> <td style="width: 15.18%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">April 26, 2023</div> </td> <td style="width: 1.16%; vertical-align: top;"> </td> <td style="width: 15.2%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">May 19, 2026</div> </td> </tr> <tr> <td style="width: 33%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">Synthesea Maritime Co. (1)(4)</div> </td> <td style="width: 1.14%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 18.04%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">Liberia</div> </td> <td style="width: 0.96%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.04%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0); font-style: italic;">Synthesea</div> </td> <td style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.18%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">August 1, 2023</div> </td> <td style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td style="width: 15.2%; vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="color: rgb(0, 0, 0);">August 1, 2024<br/> </div> </td> </tr> <tr> <td style="width: 33%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Exelixsea Maritime Co. (1)(4)</div> </td> <td style="width: 1.14%; vertical-align: top;"> </td> <td style="width: 18.04%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Marshall Islands</div> </td> <td style="width: 0.96%; vertical-align: top;"> </td> <td style="width: 15.04%; vertical-align: top;"> <div style="color: rgb(0, 0, 0); font-style: italic;">Exelixsea</div> </td> <td style="width: 1.16%; vertical-align: top;"> </td> <td style="width: 15.18%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">August 29, 2023</div> </td> <td style="width: 1.16%; vertical-align: top;"> </td> <td style="width: 15.2%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">March 27, 2024</div> </td> </tr> <tr> <td rowspan="1" style="width: 33%; vertical-align: top; background-color: rgb(204, 238, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; word-spacing: 0px; white-space: normal; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">Nisea Maritime Co. (1)(4)</span></td> <td rowspan="1" style="width: 1.14%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td rowspan="1" style="width: 18.04%; vertical-align: top; background-color: rgb(204, 238, 255);">Liberia</td> <td rowspan="1" style="width: 0.96%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td rowspan="1" style="width: 15.04%; vertical-align: top; background-color: rgb(204, 238, 255);"><span style="font-style: italic;">Nisea</span><br/> </td> <td rowspan="1" style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td rowspan="1" style="width: 15.18%; vertical-align: top; background-color: rgb(204, 238, 255); white-space: nowrap;">September 10, 2024<br/> </td> <td rowspan="1" style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td rowspan="1" style="width: 15.2%; vertical-align: top; background-color: rgb(204, 238, 255);">March 10, 2026<br/> </td> </tr> <tr> <td rowspan="1" style="width: 33%; vertical-align: top; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">RGI Marine Holdings AS (5)</span> <br/> </td> <td rowspan="1" style="width: 1.14%; vertical-align: top;"> </td> <td rowspan="1" style="width: 18.04%; vertical-align: top;">Norway <br/> </td> <td rowspan="1" style="width: 0.96%; vertical-align: top;"> </td> <td rowspan="1" style="width: 15.04%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">N/A</div> </td> <td rowspan="1" style="width: 1.16%; vertical-align: top;"> </td> <td rowspan="1" style="width: 15.18%; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">N/A</div> </td> <td rowspan="1" style="width: 1.16%; vertical-align: top;"> </td> <td rowspan="1" style="width: 15.2%; vertical-align: top;"> N/A<br/> </td> </tr> <tr> <td rowspan="1" style="width: 33%; vertical-align: top; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none; background-color: rgb(204, 238, 255);"><span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 0px; word-spacing: 0px; white-space: nowrap; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">Duke Maritime Co. (1)(4)</span></td> <td rowspan="1" style="width: 1.14%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td rowspan="1" style="width: 18.04%; vertical-align: top; background-color: rgb(204, 238, 255);">Marshall Islands</td> <td rowspan="1" style="width: 0.96%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td rowspan="1" style="width: 15.04%; vertical-align: top; background-color: rgb(204, 238, 255); font-style: italic;">Dukeship</td> <td rowspan="1" style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td rowspan="1" style="width: 15.18%; vertical-align: top; background-color: rgb(204, 238, 255);">February 12, 2026</td> <td rowspan="1" style="width: 1.16%; vertical-align: top; background-color: rgb(204, 238, 255);"> </td> <td rowspan="1" style="width: 15.2%; vertical-align: top; background-color: rgb(204, 238, 255);">N/A </td> </tr> <tr> <td rowspan="1" style="width: 33%; vertical-align: top; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Squire Maritime Co. (1)(4)<br/> </td> <td rowspan="1" style="width: 1.14%; vertical-align: top;"> </td> <td rowspan="1" style="width: 18.04%; vertical-align: top;">Liberia</td> <td rowspan="1" style="width: 0.96%; vertical-align: top;"> </td> <td rowspan="1" style="width: 15.04%; vertical-align: top; font-style: italic;">Squireship</td> <td rowspan="1" style="width: 1.16%; vertical-align: top;"> </td> <td rowspan="1" style="width: 15.18%; vertical-align: top;">June 8, 2026</td> <td rowspan="1" style="width: 1.16%; vertical-align: top;"> </td> <td rowspan="1" style="width: 15.2%; vertical-align: top; font-size: 10pt;">June 8, 2026<br/> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; color: rgb(0, 0, 0); border-spacing: 0;"> <tr> <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">(1)</td> <td style="width: auto; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Subsidiaries wholly owned</div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; color: rgb(0, 0, 0); border-spacing: 0;"> <tr> <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">(2)</td> <td style="width: auto; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Management company</div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; color: rgb(0, 0, 0); border-spacing: 0;"> <tr> <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">(3)</td> <td style="width: auto; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Dormant companies<br/> </div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; color: rgb(0, 0, 0); border-spacing: 0;"> <tr> <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">(4)</td> <td style="width: auto; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Bareboat charterers</div> </td> </tr> </table> <div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; color: rgb(0, 0, 0); border-spacing: 0;"> <tr> <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">(5)</td> <td style="width: auto; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Majority owned subsidiary (Note 9)</div> </td> </tr> </table> </div> 1T 1T Gloriuship 2022-07-06 2025-06-10 1T Minoansea 2022-08-30 2022-12-22 N0 Goodship 2023-02-10 2025-09-16 1T Tradership 2023-02-28 2025-08-15 1T Chrisea 2023-02-21 1T Oasea 2023-03-27 2024-07-19 1T Cretansea 2023-04-26 2026-05-19 N0 Synthesea 2023-08-01 2024-08-01 1T Exelixsea 2023-08-29 2024-03-27 N0 Nisea 2024-09-10 2026-03-10 Q8 1T Dukeship 2026-02-12 N0 Squireship 2026-06-08 2026-06-08 <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">2.</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Significant Accounting Policies:</div> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">United has determined that it operates under</span> one<span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> reportable segment, that of operating bulker vessels, and the assets of such segment are presented under the caption “Total assets” in the accompanying unaudited interim condensed consolidated balance sheets. The accounting policies applied to the reportable segment are the same as those used in the preparation of the Company’s consolidated financial statements included in the Annual Report on Form 20-F for the year ended December 31, 2025, filed with the SEC on April 8, 2026.</span></div> <div style="text-align: justify; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">A discussion of the Company’s significant accounting policies can be found in the Company’s consolidated financial statements included in the Annual Report on Form 20-F for the year ended December 31, 2025, filed with the SEC on April 8, 2026. There have been no material changes to these policies in the six-month period ended June 30, 2026, except as discussed below:</div> <div style="text-align: justify; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0.1pt; margin-bottom: 0.1pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 36pt; vertical-align: top; text-align: right;"> <div style="text-align: left; margin-left: 0.1pt; margin-top: 0.1pt; margin-bottom: 0.1pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(a)</div> </td> <td style="width: auto; vertical-align: top;"> <div style="text-align: justify; margin-top: 0.1pt; margin-bottom: 0.1pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">Fair value of below market acquired time charters:</div> </td> </tr> </table> </div> <div><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Company values any liability arising from the market value of the time charters assumed when a vessel is acquired or contributed. Where vessels are acquired or contributed with existing time charters, the Company determines the present value of the difference between: (i) the contractual charter rate and (ii) the market rate for a charter of equivalent duration prevailing at the time the vessels are delivered. In discounting the charter rate differences in future periods, the Company uses its cost of capital for each vessel. The cost of the acquisition is allocated to the vessel and the in-place time charter attached on the basis of their relative fair values. Such intangible liability is recognized ratably as an adjustment to revenues over the remaining term of the assumed time charter.</div> <div style="display:none;"><br/></div> <div style="color: rgb(0, 0, 0); font-size: 10pt; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; text-align: left; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none; font-weight: bold;">Recent Accounting Pronouncements – Not Yet Adopted</div> <div style="display:none;"><br/></div> <div style="color: rgb(0, 0, 0); font-size: 10pt; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; text-align: left; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Τ</span>here are no recent accounting pronouncements the adoption of which is expected to have a material effect on the Company’s unaudited interim condensed <span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">consolidated </span>financial statements for the six-month period ended June 30, 2026.</div> 1 <div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0.1pt; margin-bottom: 0.1pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 36pt; vertical-align: top; text-align: right;"> <div style="text-align: left; margin-left: 0.1pt; margin-top: 0.1pt; margin-bottom: 0.1pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(a)</div> </td> <td style="width: auto; vertical-align: top;"> <div style="text-align: justify; margin-top: 0.1pt; margin-bottom: 0.1pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">Fair value of below market acquired time charters:</div> </td> </tr> </table> </div> <div><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Company values any liability arising from the market value of the time charters assumed when a vessel is acquired or contributed. Where vessels are acquired or contributed with existing time charters, the Company determines the present value of the difference between: (i) the contractual charter rate and (ii) the market rate for a charter of equivalent duration prevailing at the time the vessels are delivered. In discounting the charter rate differences in future periods, the Company uses its cost of capital for each vessel. The cost of the acquisition is allocated to the vessel and the in-place time charter attached on the basis of their relative fair values. Such intangible liability is recognized ratably as an adjustment to revenues over the remaining term of the assumed time charter.</div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none; font-weight: bold;">Recent Accounting Pronouncements – Not Yet Adopted</div> <div style="display:none;"><br/></div> <div style="color: rgb(0, 0, 0); font-size: 10pt; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; text-align: left; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Τ</span>here are no recent accounting pronouncements the adoption of which is expected to have a material effect on the Company’s unaudited interim condensed <span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">consolidated </span>financial statements for the six-month period ended June 30, 2026.</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span> </div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman';">3.</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0); font-size: 10pt;">Transactions with Related Parties:</div> </td> </tr> </table> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Details of the Company’s transactions with related parties are discussed in Note 3 of the consolidated financial statements for the year ended December 31, 2025, included in the Company’s 2025 Annual Report on Form 20-F filed with the SEC on April 8, 2026, and are supplemented by the below new activities within the period.</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Related party transactions incurred during the six-month period ended June 30, 2026</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Transactions with Seanergy</span><br/> </span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-style: italic;"> <br/> </span></span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-style: italic;"> Rights of First Offer<br/> </span></span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-style: italic;"> <br/> </span></span></div> <div style="text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-style: italic;"> <span style="font-style: normal;">On May 29, 2026, following United exercising its right of first offer, the Company entered into a charter acquisition agreement with Seanergy for the acquisition, acceptance and assumption of all the bareboat charter rights and obligations under the existing</span></span></span> bareboat charter arrangement<span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-style: italic;"><span style="font-style: normal;"> for the Squireship for an aggregate purchase price of $29,500 (Note 5 and Note 7). A special committee of disinterested members of the Company’s Board of Directors negotiated the terms and approved the agreement.</span></span></span><br/> <span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-style: italic;"> </span></span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-style: italic;"><span style="font-style: normal;"> <br/> </span></span></span></div> <div style="text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-style: italic;"><span style="font-style: normal;"> On February 6, 2026, following United exercising its right of first offer, the Company entered into an agreement with Seanergy for the acquisition of the Dukeship through an 18-month bareboat charter (Note 6). A special committee of disinterested members of the Company’s Board of Directors negotiated the terms and approved the agreement.<br/> </span></span></span></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-style: italic;"><span style="font-style: normal;"> </span></span><br/> </span></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-style: italic; font-family: 'Times New Roman'; font-size: 10pt;">Management Agreements:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </span> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Master Management Agreement</div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">During the six-month periods ended June 30, 2026 and 2025, an amount of $3,144 and $188 related to repayments to Seanergy and payments for working capital purposes from Seanergy funds, respectively, and is presented under “Cash flows from financing activities” in the unaudited interim condensed consolidated statements of cash flows.<br/> </div> <div><br/></div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;">Technical Management Agreements </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </span> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> In relation to the technical management, Seanergy Shipmanagement Corp. (“Seanergy Shipmanagement”) is responsible for arranging the day-to-day operations, inspections, maintenance, repairs, drydocking, purchasing, insurance and claims handling. Since December 31, 2025, <span style="font-style: italic;">Synthesea, Chrisea, Nisea, Cretansea</span> (up to her sale on May 19, 2026), <span style="font-style: italic;">Dukeship</span> as of February 12, 2026 and <span style="font-style: italic;">Squireship</span> with effect as of the commencement of the novated bareboat charter period, on June 8, 2026, are under technical management agreements with Seanergy Shipmanagement for a fixed management fee of $14 per month per vessel. Since January 1, 2026, the Company pays V. Ships fixed management fees of $11.5 for the <span style="font-style: italic;">Exelixsea</span>.<br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> The below table presents the analysis of “Management fees – related party” charged from Seanergy and Seanergy Shipmanagement in connection with the above agreements as presented in the accompanying unaudited interim condensed consolidated statement of operations:<br/> </div> <div><br/> </div> <div> <table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0); width: 100%; border-spacing: 0;"> <tr> <td style="padding-bottom: 2px;" valign="bottom"> <div><br/> </div> </td> <td colspan="1" rowspan="1" style="white-space: nowrap; text-align: center; font-weight: bold; vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="vertical-align: bottom; white-space: nowrap; text-align: center; font-weight: bold; border-bottom: #000000 solid 2px;" valign="bottom">June 30,<br/> 2026</td> <td colspan="1" rowspan="1" style="white-space: nowrap; font-weight: bold; text-align: left; vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="white-space: nowrap; text-align: center; font-weight: bold; vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="vertical-align: bottom; white-space: nowrap; text-align: center; font-weight: bold; border-bottom: #000000 solid 2px;" valign="bottom"> <div>June 30,</div> <div>2025</div> </td> <td colspan="1" rowspan="1" style="white-space: nowrap; font-weight: bold; text-align: left; vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" valign="bottom">Fees charged in relation to:<br/> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="vertical-align: bottom; text-align: right;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="vertical-align: bottom; text-align: right;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="width: 76%; background-color: #CCEEFF;" valign="bottom"> <div>Management services-Seanergy<br/> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>330</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>465</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="width: 76%; padding-bottom: 2px;" valign="bottom"> <div>Management services-Seanergy Shipmanagement</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div>391</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div>479</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="width: 76%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> <div>Management fees-related party</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">721</span></div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">944</span></div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> </table> </div> <div><br/></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> The below table presents the fees charged from Seanergy Management in connection with the above agreements:<br/> </div> <div><br/></div> <div> <table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0); width: 100%; border-spacing: 0;"> <tr> <td style="padding-bottom: 2px;" valign="bottom"> <div><br/> </div> </td> <td colspan="1" rowspan="1" style="text-align: center; font-weight: bold; vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="text-align: center; vertical-align: bottom; font-weight: bold; border-bottom: #000000 solid 2px;" valign="bottom"> <div>June 30,</div> <div>2026</div> </td> <td colspan="1" rowspan="1" style="font-weight: bold; text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: center; font-weight: bold; vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="text-align: center; vertical-align: bottom; font-weight: bold; border-bottom: #000000 solid 2px;" valign="bottom"> <div>June 30,</div> <div>2025</div> </td> <td colspan="1" rowspan="1" style="font-weight: bold; text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" valign="bottom">Fees charged in relation to:<br/> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="vertical-align: bottom; text-align: right;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="vertical-align: bottom; text-align: right;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="width: 76%; background-color: #CCEEFF;" valign="bottom"> <div>Commercial services (1)<br/> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>135</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>158</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" style="width: 76%; padding-bottom: 2px;" valign="bottom">Sale of vessel services (2) <br/> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">152</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">160</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="width: 76%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> Total<br/> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div>287</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">318</span></div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> </table> </div> <div><span style="font-family: 'Times New Roman';"><br/> </span> </div> <div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman';">(1)<br/> </td> <td style="width: auto; vertical-align: top; text-align: justify;">included in “Vessel revenue, net” (Note 13) in the accompanying unaudited interim condensed consolidated statement of operations</td> </tr> </table> </div> <div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman';">(2)<br/> </td> <td style="width: auto; vertical-align: top; text-align: justify;">presented in “Gain on sale of vessels, net” (Note 5) in the accompanying unaudited interim condensed consolidated statement of operations</td> </tr> </table> </div> <div><br/></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> The below table presents the analysis of “Due to Related Parties” as presented in the accompanying condensed consolidated balance sheets:</div> <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0); width: 100%; border-spacing: 0;"> <tr> <td style="padding-bottom: 2px;" valign="bottom"> <div> </div> </td> <td colspan="1" rowspan="1" style="white-space: nowrap; vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="vertical-align: bottom; white-space: nowrap; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center;"><span style="font-weight: bold;">June 30,</span></div> <div style="text-align: center;"><span style="font-weight: bold;">2026</span> <br/> </div> </td> <td colspan="1" rowspan="1" style="white-space: nowrap; text-align: left; vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center;"><span style="font-weight: bold;">December 31,</span></div> <div style="text-align: center;"><span style="font-weight: bold;">2025</span> <br/> </div> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="width: 76%; background-color: #CCEEFF;" valign="bottom"> <div>Balance due to Seanergy<br/> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>3,484</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>6,299</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="width: 76%;" valign="bottom"> <div>Balance due to Seanergy Shipmanagement<br/> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div>2,016</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div>1,582</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="width: 76%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div>Balance due to Seanergy Management<br/> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>2,111</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>1,605</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="width: 76%; padding-bottom: 4px;" valign="bottom"> <div>Due to Related Parties<br/> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div>7,611</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div>9,486</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br/> </div> <div><span style="color: #000000; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; text-transform: none;"> The below table presents the analysis of “Due from Related Parties” as presented in the accompanying condensed consolidated balance sheets: </span></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0); width: 100%; border-spacing: 0;"> <tr> <td style="padding-bottom: 2px;" valign="bottom"> <div> </div> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center;"><span style="font-weight: bold;">June 30,</span></div> <div style="text-align: center;"><span style="font-weight: bold;">2026</span> <br/> </div> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center;"><span style="font-weight: bold;">December 31,</span></div> <div style="text-align: center;"><span style="font-weight: bold;">2025</span> <br/> </div> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="width: 76%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div>Balance due from Seanergy Management<br/> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>978</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>386</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="width: 76%; padding-bottom: 4px;" valign="bottom"> <div>Due from Related Parties<br/> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div>978</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div>386</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br/> </div> <div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">On <span style="font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: justify; text-indent: 0px; word-spacing: 0px; white-space: normal; text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">March 9, 2026, the Compensation Committee of the Company granted 114,000 shares to certain employees of the Company’s service providers (Note 16).</span></span></div> 29500000 P18M 3144000 188000 14000 11500 <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> The below table presents the analysis of “Management fees – related party” charged from Seanergy and Seanergy Shipmanagement in connection with the above agreements as presented in the accompanying unaudited interim condensed consolidated statement of operations:<br/> </div> <div><br/> </div> <div> <table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0); width: 100%; border-spacing: 0;"> <tr> <td style="padding-bottom: 2px;" valign="bottom"> <div><br/> </div> </td> <td colspan="1" rowspan="1" style="white-space: nowrap; text-align: center; font-weight: bold; vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="vertical-align: bottom; white-space: nowrap; text-align: center; font-weight: bold; border-bottom: #000000 solid 2px;" valign="bottom">June 30,<br/> 2026</td> <td colspan="1" rowspan="1" style="white-space: nowrap; font-weight: bold; text-align: left; vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="white-space: nowrap; text-align: center; font-weight: bold; vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="vertical-align: bottom; white-space: nowrap; text-align: center; font-weight: bold; border-bottom: #000000 solid 2px;" valign="bottom"> <div>June 30,</div> <div>2025</div> </td> <td colspan="1" rowspan="1" style="white-space: nowrap; font-weight: bold; text-align: left; vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" valign="bottom">Fees charged in relation to:<br/> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="vertical-align: bottom; text-align: right;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="vertical-align: bottom; text-align: right;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="width: 76%; background-color: #CCEEFF;" valign="bottom"> <div>Management services-Seanergy<br/> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>330</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>465</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="width: 76%; padding-bottom: 2px;" valign="bottom"> <div>Management services-Seanergy Shipmanagement</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div>391</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div>479</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="width: 76%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> <div>Management fees-related party</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">721</span></div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">944</span></div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> </table> </div> <div><br/></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> The below table presents the fees charged from Seanergy Management in connection with the above agreements:<br/> </div> <div><br/></div> <div> <table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0); width: 100%; border-spacing: 0;"> <tr> <td style="padding-bottom: 2px;" valign="bottom"> <div><br/> </div> </td> <td colspan="1" rowspan="1" style="text-align: center; font-weight: bold; vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="text-align: center; vertical-align: bottom; font-weight: bold; border-bottom: #000000 solid 2px;" valign="bottom"> <div>June 30,</div> <div>2026</div> </td> <td colspan="1" rowspan="1" style="font-weight: bold; text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: center; font-weight: bold; vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="text-align: center; vertical-align: bottom; font-weight: bold; border-bottom: #000000 solid 2px;" valign="bottom"> <div>June 30,</div> <div>2025</div> </td> <td colspan="1" rowspan="1" style="font-weight: bold; text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" valign="bottom">Fees charged in relation to:<br/> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="vertical-align: bottom; text-align: right;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="vertical-align: bottom; text-align: right;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="width: 76%; background-color: #CCEEFF;" valign="bottom"> <div>Commercial services (1)<br/> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>135</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>158</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" style="width: 76%; padding-bottom: 2px;" valign="bottom">Sale of vessel services (2) <br/> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">152</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">160</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="width: 76%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> Total<br/> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div>287</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">318</span></div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> </table> </div> <div><span style="font-family: 'Times New Roman';"><br/> </span> </div> <div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman';">(1)<br/> </td> <td style="width: auto; vertical-align: top; text-align: justify;">included in “Vessel revenue, net” (Note 13) in the accompanying unaudited interim condensed consolidated statement of operations</td> </tr> </table> </div> <div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman';">(2)<br/> </td> <td style="width: auto; vertical-align: top; text-align: justify;">presented in “Gain on sale of vessels, net” (Note 5) in the accompanying unaudited interim condensed consolidated statement of operations</td> </tr> </table> </div> <div><br/></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> The below table presents the analysis of “Due to Related Parties” as presented in the accompanying condensed consolidated balance sheets:</div> <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0); width: 100%; border-spacing: 0;"> <tr> <td style="padding-bottom: 2px;" valign="bottom"> <div> </div> </td> <td colspan="1" rowspan="1" style="white-space: nowrap; vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="vertical-align: bottom; white-space: nowrap; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center;"><span style="font-weight: bold;">June 30,</span></div> <div style="text-align: center;"><span style="font-weight: bold;">2026</span> <br/> </div> </td> <td colspan="1" rowspan="1" style="white-space: nowrap; text-align: left; vertical-align: bottom; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center;"><span style="font-weight: bold;">December 31,</span></div> <div style="text-align: center;"><span style="font-weight: bold;">2025</span> <br/> </div> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="width: 76%; background-color: #CCEEFF;" valign="bottom"> <div>Balance due to Seanergy<br/> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>3,484</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div>6,299</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="width: 76%;" valign="bottom"> <div>Balance due to Seanergy Shipmanagement<br/> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div>2,016</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div>1,582</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="width: 76%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div>Balance due to Seanergy Management<br/> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>2,111</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>1,605</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="width: 76%; padding-bottom: 4px;" valign="bottom"> <div>Due to Related Parties<br/> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div>7,611</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div>9,486</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <br/> </div> <div><span style="color: #000000; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; text-transform: none;"> The below table presents the analysis of “Due from Related Parties” as presented in the accompanying condensed consolidated balance sheets: </span></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: normal; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0); width: 100%; border-spacing: 0;"> <tr> <td style="padding-bottom: 2px;" valign="bottom"> <div> </div> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center;"><span style="font-weight: bold;">June 30,</span></div> <div style="text-align: center;"><span style="font-weight: bold;">2026</span> <br/> </div> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" rowspan="1" style="border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center;"><span style="font-weight: bold;">December 31,</span></div> <div style="text-align: center;"><span style="font-weight: bold;">2025</span> <br/> </div> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="width: 76%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div>Balance due from Seanergy Management<br/> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>978</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div>386</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="width: 76%; padding-bottom: 4px;" valign="bottom"> <div>Due from Related Parties<br/> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div>978</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div>386</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> </div> 330000 465000 391000 479000 721000 944000 135000 158000 152000 160000 287000 318000 3484000 6299000 2016000 1582000 2111000 1605000 7611000 9486000 978000 386000 978000 386000 114000 <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">4.</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0);">Cash and Cash Equivalents and Restricted Cash:</div> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the unaudited interim condensed consolidated statement of cash flows:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%; border-spacing: 0;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="border-bottom: 2px solid; vertical-align: bottom; white-space: nowrap; text-align: center;"> <div style="color: rgb(0, 0, 0); font-weight: bold;"> June 30,</div> <div style="color: rgb(0, 0, 0); font-weight: bold;">2026<br/> </div> </td> <td colspan="1" style="vertical-align: bottom; white-space: nowrap; padding: 0px 0px 2px; text-align: center;"> </td> <td colspan="1" style="vertical-align: bottom; white-space: nowrap; padding: 0px 0px 2px; text-align: center;"> </td> <td colspan="2" style="border-bottom: 2px solid; vertical-align: bottom; white-space: nowrap; text-align: center;"> <div style="color: rgb(0, 0, 0); font-weight: bold;">December 31,</div> <div style="color: rgb(0, 0, 0); font-weight: bold;">2025<br/> </div> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Cash and cash equivalents</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">12,090</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">14,164</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 2px;" valign="bottom">Restricted cash<br/> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">50</td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">400</td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-weight: bold;">Cash and Cash equivalents and restricted cash</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0);">12,140</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0);">14,564</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="display:none;"><br/></div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; text-align: justify;">Restricted cash as of June 30, 2026 includes $50 of restricted deposits pledged as collateral for credit cards balances with one of the Company’s financial institutions. </div> <div style="display:none;"><br/></div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; text-align: justify;"> <br/> </div> <div style="display:none;"><br/></div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; text-align: justify;">Restricted cash as of December 31, 2025 includes $50 of restricted deposits pledged as collateral for credit cards balances with one of the Company’s financial institutions and $350 of minimum liquidity requirements as per the April 2023 <span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Neptune Sale and Leaseback (Note 5 and Note 7).</span> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the unaudited interim condensed consolidated statement of cash flows:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%; border-spacing: 0;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="border-bottom: 2px solid; vertical-align: bottom; white-space: nowrap; text-align: center;"> <div style="color: rgb(0, 0, 0); font-weight: bold;"> June 30,</div> <div style="color: rgb(0, 0, 0); font-weight: bold;">2026<br/> </div> </td> <td colspan="1" style="vertical-align: bottom; white-space: nowrap; padding: 0px 0px 2px; text-align: center;"> </td> <td colspan="1" style="vertical-align: bottom; white-space: nowrap; padding: 0px 0px 2px; text-align: center;"> </td> <td colspan="2" style="border-bottom: 2px solid; vertical-align: bottom; white-space: nowrap; text-align: center;"> <div style="color: rgb(0, 0, 0); font-weight: bold;">December 31,</div> <div style="color: rgb(0, 0, 0); font-weight: bold;">2025<br/> </div> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Cash and cash equivalents</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">12,090</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">14,164</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 2px;" valign="bottom">Restricted cash<br/> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">50</td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">400</td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-weight: bold;">Cash and Cash equivalents and restricted cash</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0);">12,140</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0);">14,564</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> </tr> </table> 12090000 14164000 50000 400000 12140000 14564000 50000 1 50000 1 350000 <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">5.</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Vessels, Net:</div> </td> </tr> </table> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </span> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The amounts in the accompanying condensed consolidated balance sheets are analyzed as follows:</div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </span> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%; border-spacing: 0;"> <tr> <td style="vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;"> June 30,</div> <div style="color: rgb(0, 0, 0); font-weight: bold;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2026<br/> </span></div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">December 31,</div> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">2025</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Cost:</div> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Beginning balance:</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">65,033</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">120,543</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 76%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">- Additions</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">56,236</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">618</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">- Disposals</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(36,250</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">)</div> </td> </tr> <tr> <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">- Transfer to “Vessels held for sale”</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(17,993</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(19,878</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">)</div> </td> </tr> <tr> <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Ending balance:</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">103,276</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">65,033</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt; width: 76%;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Accumulated depreciation:</div> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 76%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Beginning balance:</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(6,206</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(9,954</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">)</div> </td> </tr> <tr> <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">- Depreciation for the period</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(2,371</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(6,373</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">)</div> </td> </tr> <tr> <td style="vertical-align: top; width: 76%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">- Disposals</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">6,248</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">- Transfer to “Vessels held for sale”</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">3,018</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">3,873</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 76%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Ending balance:</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(5,559</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(6,206</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">)</div> </td> </tr> <tr> <td style="vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 76%; padding-bottom: 4px;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Net book value</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">97,717</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">58,827</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: normal; font-style: normal; font-variant: normal; text-transform: none;">Details of the Company’s vessels, net are discussed in Note 5 of the consolidated financial statements for the year ended December 31, 2025, included in the Company’s 2025 Annual Report on Form 20-F filed with the SEC on April 8, 2026, and are supplemented by the below new activities within the period.</div> <div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; font-style: italic;">Acquisitions</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </span> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt;"> <span style="font-family: 'Times New Roman';">On May 29, 2026, the Company entered into a charter acquisition agreement with Seanergy to acquire, accept and assume all rights and (purchase and other) obligations under the existing</span> bareboat charter arrangement<span style="font-family: 'Times New Roman';"> relating to the secondhand Capesize vessel <span style="font-style: italic;">Squireship</span>. The aggregate purchase price was $29,500</span><span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">, which was the market value of the vessel</span>, with the Company assuming all rights and outstanding obligations under the bareboat charter arrangement (Note 7). The effective date of delivery of the vessel took place on June 8, 2026.</div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt;"><span style="font-family: 'Times New Roman';"><span style="font-family: 'Times New Roman';"> <br/> </span></span></div> <div style="text-align: justify; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The <span style="font-style: italic;">Squireship </span>was acquired with a below-market time charter. The value of the below-market time charter of $421 (Note 10) was recognized as an addition to “Vessels, net” in the condensed consolidated balance sheets.<br/> </div> <div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </div> <div><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify;"><span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">On March 10, 2026, the Company exercised its purchase option for <span style="font-style: italic;">Nisea </span>bareboat charter, an amount of $26,287 was derecognized from “Right-of-use assets” (Note 6) and recognized as “Vessels, net” in the accompanying condensed consolidated balance sheets. The purchase option amount was financed through the Nisea Huarong Sale and Leaseback (Note 7).</span><span style="font-family: 'Times New Roman';"><br/> </span></div> <div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> <span style="font-family: 'Times New Roman';"><br/> </span></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><span style="font-style: italic;">Vessel Held for Sale</span><br/> </div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </span> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt;"> <span style="font-family: 'Times New Roman';">On June 4, 2026, the Company entered into a definitive agreement with an unaffiliated third party for the sale of the <span style="font-style: italic;">Exelixsea </span>for an aggregate gross sale price of $17,500. The vessel is expected to be delivered to her new owners by October 1, 2026. On June 4, 2026, the <span style="font-style: italic;">Exelixsea </span>was classified as vessel held for sale according to the provisions of ASC 360, as all the criteria for classification were met. Accordingly, the outstanding amount of $8,433 under the Village Seven Sale and Leaseback for <span style="font-style: italic;">Exelixsea </span>was classified in current liabilities in the accompanying condensed consolidated balance sheets (Note 7). The specific vessel was not impaired as of date that it was classified as vessel held for sale, since its carrying amount was lower than its fair value less cost to sell. The fair value of the vessel was determined based on the agreed sale price. As of June 30, 2026, the carrying amount of the vessel includes the unamortized balance of vessel cost of $14,975 and the unamortized balance of drydocking cost of $66 and it is included in “Vessels held for sale” in the accompanying condensed consolidated balance sheets.  </span><br/> </div> <div><br/> </div> <div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; font-style: italic;">Sale of vessels</div> <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </span> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">On December 22, 2025, the <span style="font-style: italic;">Cretansea </span>was classified as vessel held for sale according to the provisions of ASC 360, as all the criteria for classification were met. As of December 31, 2025, “Vessel held for sale” in the accompanying consolidated balance sheet is measured at fair value less cost to sell which was $14,744. On January 27, 2026, the Company entered into agreement with an unaffiliated party for the sale of <span style="font-style: italic;">Cretansea </span>for a gross sale price of $15,200. The vessel was delivered to her new owners on May 19, 2026. As of June 30, 2026, an amount of $15,200 was recorded as “Proceeds from sale of vessels” in the accompanying consolidated statement of cash flow based on the agreed gross price. A gain on sale of vessel, net of sale expenses, amounting to $156 was recognized and is presented as “Gain / (loss) on sale of vessels, net” in the accompanying unaudited interim condensed consolidated statement of operations.</div> <div><br/></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">During the six-month period ended June 30, 2026, an amount of $28 of expenditures were capitalized that concern improvements on vessels performance and meeting environmental standards. The cost of these additions was accounted as major improvement and were capitalized over the vessels’ cost and will be depreciated over the remaining useful life of each vessel. Amounts paid for the additions are included in “Vessels acquisitions and improvements” under “Cash flows from investing activities” in the unaudited interim condensed consolidated statement of cash flows.</div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The amounts in the accompanying condensed consolidated balance sheets are analyzed as follows:</div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </span> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%; border-spacing: 0;"> <tr> <td style="vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;"> June 30,</div> <div style="color: rgb(0, 0, 0); font-weight: bold;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2026<br/> </span></div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">December 31,</div> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">2025</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Cost:</div> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; vertical-align: bottom;" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Beginning balance:</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">65,033</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">120,543</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 76%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">- Additions</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">56,236</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">618</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">- Disposals</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(36,250</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">)</div> </td> </tr> <tr> <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">- Transfer to “Vessels held for sale”</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(17,993</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(19,878</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">)</div> </td> </tr> <tr> <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Ending balance:</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">103,276</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">65,033</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt; width: 76%;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Accumulated depreciation:</div> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 76%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Beginning balance:</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(6,206</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(9,954</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">)</div> </td> </tr> <tr> <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">- Depreciation for the period</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(2,371</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(6,373</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">)</div> </td> </tr> <tr> <td style="vertical-align: top; width: 76%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">- Disposals</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">-</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">6,248</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">- Transfer to “Vessels held for sale”</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">3,018</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">3,873</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 76%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Ending balance:</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(5,559</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(6,206</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">)</div> </td> </tr> <tr> <td style="vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 76%; padding-bottom: 4px;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Net book value</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">97,717</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">58,827</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> 65033000 120543000 56236000 618000 0 36250000 -17993000 -19878000 103276000 65033000 6206000 9954000 2371000 6373000 0 6248000 3018000 3873000 5559000 6206000 97717000 58827000 29500000 421000 26287000 17500000 8433000 14975000 66000 14744000 15200000 15200000 156000 28000 <div> <span style="font-family: 'Times New Roman';"> </span></div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman';">6.</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Right-of-use assets and Finance Lease Liabilities:</div> <span style="font-family: 'Times New Roman';"> </span></td> </tr> </table> <div><span style="font-family: 'Times New Roman';"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-family: 'Times New Roman';"><br/> </span> </div> <div><span style="font-family: 'Times New Roman';"> </span></div> <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><span style="display: inline; float: none; letter-spacing: normal; white-space: normal; word-spacing: 0px; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; text-indent: 0px; text-transform: none;">Details of the Company’s right-of-use assets and finance lease liabilities are discussed in Note 6 of the consolidated financial statements for the year ended December 31, 2025, included in the Company’s 2025 Annual Report on Form 20-F filed with the SEC on April 8, 2026, and are supplemented by the below new activities within the period.</span><span style="font-family: 'Times New Roman';"> <br/> </span> </div> <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><span style="font-family: 'Times New Roman';"> <br/> </span></div> <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><span style="font-family: 'Times New Roman';"> On March 10, 2026, the Company exercised its purchase option for <span style="font-style: italic;">Nisea</span> bareboat charter, an amount of $26,287 was derecognized from “Right-of-use assets” and recognized as “Vessels, net” in the accompanying condensed consolidated balance sheets (Note 5). During the six-month periods ended June 30, 2026 and 2025, the amortization of the right-of-use asset for <span style="font-style: italic;">Nisea</span> amounted to $272 and $716 and is presented in the Company’s unaudited interim condensed consolidated statement of operations under “Depreciation and amortization”. Interest expense on the finance lease liabilities for <span style="font-style: italic;">Nisea</span> for the same period for 2026 and 2025 amounted to $154 and $453 (Note 14). As of June 30, 2026 and December 31, 2025, the right-of-use amounted to $<span style="-sec-ix-hidden:Fact_7c80563f6d2a42cab9def39c605a9df6">NIL</span> and $26,314 and is presented under “Right-of-use assets” in the accompanying condensed consolidated balance sheets.<br/> </span></div> <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><span style="font-family: 'Times New Roman';"> <br/> </span></div> <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><span style="font-family: 'Times New Roman';"> On February 6, 2026, following United exercising its right of first offer, the Company entered into an agreement with Seanergy for the acquisition of the <span style="font-style: italic;">Dukeship</span> through an 18-month bareboat charter. The charter period commenced following the delivery of the vessel on February 12, 2026. United has advanced a downpayment of $5,500 and will pay a daily charter rate of $9.5, with a purchase obligation of $22,050 at the end of the bareboat charter (Note 3). The Company has classified the above transaction as a finance lease. At the commencement date, the Company recognized a finance lease liability equal to the present value of lease payments during the bareboat charter period using an implicit rate of 2.96%. The Company recognized a finance lease liability of $26,163 and a corresponding right-of-use asset of $31,663.<br/> </span></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-size: 10pt;"> <br/> </span></div> <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman';">During the six-month periods ended June 30, 2026 and 2025, the amortization of the right-of-use assets for <span style="font-style: italic;">Dukeship</span> amounted to $926 and $<span style="-sec-ix-hidden:Fact_8191e97a0fbb4368b8d31659473b3d47">NIL</span>, respectively, and is presented in the Company’s unaudited interim condensed consolidated statement of operations under “Depreciation and amortization”. Interest expense on the finance lease liabilities for the same period for 2026 and 2025 amounted to $282 and $<span style="-sec-ix-hidden:Fact_ad20196d2c014c9883b9e3848bb57e70">NIL</span>, respectively, and is presented under “Interest and finance costs-related party”. As of June 30, 2026 and December 31, 2025, the right-of-use amounted to </span><span style="font-family: 'Times New Roman';">$30,737<span style="font-size: 10pt;"> and $<span style="-sec-ix-hidden:Fact_fbbd876313e8418cb7e058ad178dacb5">NIL</span>, respectively, and is presented under “Right-of-use assets” </span>in the accompanying condensed consolidated balance sheets.</span></div> <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><span style="font-family: 'Times New Roman';"> <br/> </span></div> <div><span style="font-size: 10pt; font-family: 'Times New Roman';"> </span></div> <div><span style="font-size: 10pt; font-family: 'Times New Roman';"> </span></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-size: 10pt;">The weighted average remaining lease term for the bareboat charters was 1.12 years as of June 30, 2026.</span> The weighted average implicit rate for the bareboat charters was 2.96% as of June 30, 2026. </div> <div><span style="font-family: 'Times New Roman';"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-family: 'Times New Roman';"><br/> </span> </div> <div style="color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">The annual lease payments under the bareboat charter agreement are as follows:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-family: 'Times New Roman';"><br/> </span> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%; border-spacing: 0;"> <tr> <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman';">Twelve-month periods ending June 30,</div> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman';">Amount</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; font-family: 'Times New Roman'; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-family: 'Times New Roman';">2027</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">3,449</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-family: 'Times New Roman'; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">2028 <br/> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">22,343<br/> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: 'Times New Roman'; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman';">Total undiscounted lease payments</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">25,792</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);"><span style="font-family: 'Times New Roman';">Less: Discount based on implicit rate<br/> </span> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(764</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman';">Present value of finance lease liabilities</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">25,028</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-family: 'Times New Roman'; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-family: 'Times New Roman';">Finance lease liabilities, current</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">2,760</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-family: 'Times New Roman';">Finance lease liabilities, non-current</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">22,268</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: 'Times New Roman'; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman';">Present value of finance lease liabilities</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">25,028</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> </tr> </table> 26287000 272000 716000 154000 453000 26314000 P18M 5500000 9500 22050000 0.0296 26163000 31663000 926000 282000 30737000 P1Y1M13D 0.0296 <div style="color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">The annual lease payments under the bareboat charter agreement are as follows:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-family: 'Times New Roman';"><br/> </span> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%; border-spacing: 0;"> <tr> <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman';">Twelve-month periods ending June 30,</div> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman';">Amount</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; font-family: 'Times New Roman'; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-family: 'Times New Roman';">2027</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255); font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">3,449</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); font-family: 'Times New Roman'; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">2028 <br/> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">22,343<br/> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: 'Times New Roman'; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman';">Total undiscounted lease payments</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">25,792</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);"><span style="font-family: 'Times New Roman';">Less: Discount based on implicit rate<br/> </span> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(764</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman';">Present value of finance lease liabilities</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">25,028</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-family: 'Times New Roman'; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-family: 'Times New Roman';">Finance lease liabilities, current</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">2,760</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-family: 'Times New Roman';">Finance lease liabilities, non-current</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">22,268</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: 'Times New Roman'; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman';">Present value of finance lease liabilities</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">25,028</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> </tr> </table> 3449000 22343000 25792000 764000 25028000 2760000 22268000 25028000 <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">7.</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0);">Long-Term Debt and Other Financial Liabilities:</div> </td> </tr> </table> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><span style="color: rgb(0, 0, 0);"> </span><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The amounts in the accompanying condensed consolidated balance sheets are analyzed as follows:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%; border-spacing: 0;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> June 30,</div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">2026<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">December 31,</div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">2025<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Long-term debt and other financial liabilities</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">70,383</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">48,758</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Less: Deferred financing costs and debt discounts<br/> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="color: rgb(0, 0, 0);">(1,187</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0);">)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="color: rgb(0, 0, 0);">(857</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0);">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Total</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">69,196</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">47,901</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Less – current portion</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="color: rgb(0, 0, 0);">(14,489</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0);">)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="color: rgb(0, 0, 0);">(14,327</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0);">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Long-term portion</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">54,707</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0);"></div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">33,574</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> </table> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Details of the Company’s secured credit and other financial liabilities are discussed in Note 7 of the consolidated financial statements for the year ended December 31, 2025, included in the Company’s 2025 Annual Report on Form 20-F filed with the SEC on April 8, 2026, and are supplemented by the below new activities within the period.</div> <div><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">Other Financial Liabilities</div> <div><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">Assumed Financial Obligations</div> <div><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic;">Squireship Huarong bareboat charter arrangement</div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic;"> <br/> </div> <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-weight: normal; text-align: justify;">On May 29, 2026, in connection with the acquisition of the <span style="font-size: 10pt; font-family: 'Times New Roman',Times,serif;">Squireship</span>, the Company entered into a novation agreement with China Huarong Shipping Financial Leasing Company Co., Ltd., as financing lessor, and the seller of the vessel, pursuant to which, upon completion of the acquisition, a subsidiary of United, Squire Maritime Co., assuming all rights and outstanding obligations under the existing bareboat arrangement. Accordingly, Squire Maritime Co. became the lessee and United became the guarantor under the arrangement. The outstanding charterhire principal of $15,625 is repayable in <span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">15 quarterly installments of $475, together with a purchase obligation of $8,500</span> upon expiration of the bareboat charter. The financing bears interest at a rate of <span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">three-month <span style="-sec-ix-hidden:Fact_db88ff1b24f14644916ef1dcb281b0e7">Term SOFR</span> plus 2.15%</span> per annum. The bareboat arrangement does not contain any financial covenants or security value maintenance provisions. The Company has the option to purchase the vessel at any time during the term of the arrangement at predetermined prices specified therein. As of June 30, 2026, the outstanding principal balance under the Squireship Huarong bareboat charter arrangement was $<span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">15,625</span>.</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">Sale and Leaseback Transactions</div> <div><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">New Sale and Leaseback Activities during the six-month period ended June 30, 2026</div> <div><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic;">Nisea Huarong Sale and Leaseback</div> <div><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">On March 5, 2026, the Company entered into an $<span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">18,250</span> sale and leaseback agreement with an affiliate of China Huarong Shipping Financial Leasing Company Ltd. (“Huarong”) to finance the purchase option cost of the <span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Nisea</span> under its previous bareboat charter. The Company sold and chartered back the vessel on a bareboat basis for a <span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">five-year</span> period which commenced on March 10, 2026. The charterhire principal amortizes in <span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">20 quarterly installments of $353 along with a purchase obligation of $11,200</span> at the expiry of the bareboat charter, bearing an interest rate of <span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">3-month <span style="-sec-ix-hidden:Fact_670e9b072ce54ef8a2051a70560409e6">term SOFR</span> plus 1.95%</span> per annum. The Company has continuous options to repurchase the vessel at any time during the bareboat charter period at predetermined prices, as set forth in the agreement, following the first anniversary of the bareboat charter. The sale and leaseback agreement does not include any financial covenants or security value maintenance provisions. As of June 30, 2026, the amount outstanding under the Nisea Huarong Sale and Leaseback was $<span style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">17,898</span>.</div> <div style="text-align: justify; margin-right: 1.9pt; margin-left: 1.9pt; margin-bottom: 0.1pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">Sale and Leaseback Transactions repaid during the six-month period ended June 30, 2026 <br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;"> <br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;"> <span style="font-style: italic; font-weight: normal;">April 2023 Neptune Sale and Leaseback </span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;"><span style="font-style: italic; font-weight: normal;"> <br/> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">On May 19, 2026, the Company exercised its purchase option under the April 2023 Neptune Sale and Leaseback in connection with the sale of the <span style="font-style: italic;">Cretansea </span>to an unaffiliated party. Following the exercise of the purchase option, all securities created in favor of the lessor were irrevocably and unconditionally released. Οn that date, as a result of the prepayment, an amount of $60 relating to deferred finance costs and other related expenses was recognized as loss on debt extinguishment according to the debt extinguishment guidance of ASC 470-50 “Debt Modifications and Extinguishments” and was included in “Loss on extinguishment of debt” in the unaudited interim condensed consolidated statements of operations.</div> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;"> <br/> </div> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;"><span style="font-style: italic;"> </span><span style="font-style: normal; font-weight: normal;"><span style="font-style: italic;">Village Seven Sale and Leaseback</span><br/> </span></div> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;"> <br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; background-color: rgb(255, 255, 255); font-weight: normal; font-style: normal; font-variant: normal; text-transform: none;">On May 28, 2026, the Company delivered notice to Village Seven Co., Ltd. and V7 Fune Inc. (collectively, “Village Seven”), the lessor under the Village Seven Sale and Leaseback, to exercise its purchase option with respect to the <span style="font-style: italic;">Exelixsea</span>. The Company entered into a purchase option memorandum of agreement on August 3, 2026 and the transaction is expected to be completed in early September 2026.</div> <div><br/></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">As of June 30, 2026, the Company was in compliance with all covenants relating to its financial liabilities as at that date.</div> <div><br/></div> <div style="text-align: justify; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">As of June 30, 2026, one of the Company’s owned vessels, having a net carrying value of $18,690, was subject to first and second priority mortgages as collateral to its long-term debt facility. As of June 30, 2026, four of the Company’s vessels (including the vessel held for sale), having a net carrying value of $94,068, were financed through sale and leaseback agreements. As customary in leaseback agreements, the title of ownership is held by the registered owners.</div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">The annual principal payments required to be made after June 30, 2026 for all long-term debt and other financial liabilities, are as follows:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%; border-spacing: 0;"> <tr> <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-weight: bold;">Twelve-month periods ending June 30,</div> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Amount</div> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">2027</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">14,980</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">2028</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0);">6,546</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">2029</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">6,546</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">2030</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0);">21,871</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Thereafter</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">20,440</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; padding-bottom: 4px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-weight: bold;">Total</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="color: rgb(0, 0, 0);">70,383</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The amounts in the accompanying condensed consolidated balance sheets are analyzed as follows:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%; border-spacing: 0;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> June 30,</div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">2026<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">December 31,</div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">2025<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Long-term debt and other financial liabilities</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">70,383</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">48,758</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Less: Deferred financing costs and debt discounts<br/> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="color: rgb(0, 0, 0);">(1,187</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0);">)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="color: rgb(0, 0, 0);">(857</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0);">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Total</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">69,196</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">47,901</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Less – current portion</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="color: rgb(0, 0, 0);">(14,489</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0);">)</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="color: rgb(0, 0, 0);">(14,327</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0);">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Long-term portion</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">54,707</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0);"></div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">33,574</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> </table> 70383000 48758000 1187000 857000 69196000 47901000 14489000 14327000 54707000 33574000 15625000 15 quarterly 475000 8500000 P3M 0.0215 15625000 18250000 P5Y 20 quarterly 353000 11200000 P3M 0.0195 17898000 60000 1 18690000 4 94068000 <div style="text-align: justify; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">The annual principal payments required to be made after June 30, 2026 for all long-term debt and other financial liabilities, are as follows:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%; border-spacing: 0;"> <tr> <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-weight: bold;">Twelve-month periods ending June 30,</div> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Amount</div> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">2027</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">14,980</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">2028</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0);">6,546</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">2029</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">6,546</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">2030</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0);">21,871</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Thereafter</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">20,440</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; padding-bottom: 4px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-weight: bold;">Total</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;" valign="bottom"> <div style="color: rgb(0, 0, 0);">70,383</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> 14980000 6546000 6546000 21871000 20440000 70383000 <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman';">8.</td> <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';"> <div style="color: rgb(0, 0, 0);">Equity Method Investments:</div> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Details of the Company’s equity method investments are discussed in Note 8 of the consolidated financial statements for the year ended December 31, 2025, included in the Company’s 2025 Annual Report on Form 20-F filed with the SEC on April 8, 2026, and are supplemented by the below new activities within the period.</div> <div style="font-family: 'Times New Roman';"><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">On February 6, 2026, RGI Marine Holdings AS (“RGI”), in which the Company had a 76.2% equity interest, entered into a share sale and purchase agreement to dispose its 45% equity interest in Wind Energy Construction AS (“WEC”) for Euro 15.5 million (or $17,980). The transaction was completed on June 4, 2026, resulting in gain on disposal of equity method investment of $523, which is presented under “Gain on disposal of equity method investment” in the accompanying unaudited interim condensed consolidated statement of operations.</div> <div style="font-family: 'Times New Roman';"><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">From January 1, 2026 and up until the date of the disposal and for the six-month period ended June 30, 2025, loss on equity method investment amounted to $7 and $44, respectively, and are presented under “Loss on equity method investment” in the accompanying unaudited interim condensed consolidated statement of operations.</div> 0.762 0.45 15500000 17980000 523000 -7000 -44000 <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman';">9.</td> <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman';"> <div style="color: rgb(0, 0, 0);">Acquisition of RGI:</div> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> Details of the Company’s acquisition of RGI are discussed in Note 9 of the consolidated financial statements for the year ended December 31, 2025, included in the Company’s 2025 Annual Report on Form 20-F filed with the SEC on April 8, 2026, and are supplemented by the below new activities within the period.<br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Following the completion of the disposal of all equity shares of WEC (Note 8), RGI paid a dividend of Euro 14.4 million (or $16,795) to all of its shareholders in June 2026.<br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">On March 13, 2026, the Company completed the conversion of a loan provided to RGI in October 2025 into 2,648,827 shares of RGI. Upon conversion, the Company increased its equity interest in RGI to 84.3%.<br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">On February 19, 2026, RGI declared a dividend of Euro 0.9 million (or $1,077) to all of its shareholders which was paid on February 26, 2026.<br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The non-controlling shareholders of RGI received dividends of $2,799 from the dividends described above in the six-months period ended June 30, 2026.</div> 14400000 16795000 2648827 0.843 900000 1077000 2799000 <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">10.</td> <td style="width: auto; vertical-align: top;"> <div style="color: rgb(0, 0, 0);">Financial Instruments:</div> </td> </tr> </table> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><span style="color: rgb(0, 0, 0);"> </span><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The guidance for fair value measurements applies to all assets and liabilities that are being measured and reported on a fair value basis. This guidance enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. The same guidance requires that assets and liabilities carried at fair value should be classified and disclosed in one of the following three categories based on the inputs used to determine its fair value:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 18pt;"><br/> </td> <td style="width: 18pt; vertical-align: top; color: #000000;">•</td> <td style="width: auto; vertical-align: top;"> <div style="color: rgb(0, 0, 0); text-align: justify;"> <div style="color: rgb(0, 0, 0);">Level 1: Quoted market prices in active markets for identical assets or liabilities;</div> </div> </td> </tr> </table> <div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 18pt;"> </td> <td style="width: 18pt; vertical-align: top; text-align: right;"> <div style="text-align: left; color: rgb(0, 0, 0);">•</div> </td> <td style="width: auto; vertical-align: top;"> <div style="color: rgb(0, 0, 0); text-align: justify;"> <div style="color: rgb(0, 0, 0);">Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data;</div> </div> </td> </tr> </table> </div> <div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 18pt;"> </td> <td style="width: 18pt; vertical-align: top; text-align: right;"> <div style="text-align: left; color: rgb(0, 0, 0);">•</div> </td> <td style="width: auto; vertical-align: top;"> <div style="color: rgb(0, 0, 0); text-align: justify;"> <div style="color: rgb(0, 0, 0);">Level 3: Unobservable inputs that are not corroborated by market data</div> </div> </td> </tr> </table> </div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(a)</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0);">Significant Risks and Uncertainties, including Business and Credit Concentration</div> </td> </tr> </table> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><span style="color: rgb(0, 0, 0);"> </span><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The Company places its temporary cash investments, consisting mostly of deposits, primarily with high credit qualified financial institutions. The Company performs periodic evaluations of the relative credit standing of those financial institutions that are considered in the Company’s investment strategy. The Company limits its credit risk with accounts receivable by performing ongoing credit evaluations of its customers’ financial condition and generally does not require collateral for its accounts receivable and does not have any agreements to mitigate credit risk.</div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><span style="color: rgb(0, 0, 0);"> </span><br/> </div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">(b)</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0);">Fair Value of Financial Instruments</div> </td> </tr> </table> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><span style="color: rgb(0, 0, 0);"> </span><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The fair values of the financial instruments shown in the condensed consolidated balance sheets as of June 30, 2026 and December 31, 2025, represent management’s best estimate of the amounts that would be received to sell those assets or that would be paid to transfer those liabilities in an orderly transaction between market participants at that date. Those fair value measurements maximize the use of observable inputs. However, in situations where there is little, if any, market activity for the asset or liability at the measurement date, the fair value measurement reflects the Company’s own judgments about the assumptions that market participants would use in pricing the asset or liability. Those judgments are developed by the Company based on the best information available in the circumstances.</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The following methods and assumptions were used to estimate the fair value of each class of financial instruments:</div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><span style="color: rgb(0, 0, 0);"> </span><br/> </div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">a.</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0);">Cash and cash equivalents, restricted cash, accounts receivable trade, other current assets, prepaid expenses, trade accounts and other payables and accrued liabilities: the carrying amounts approximate fair value because of the short maturity of these instruments. The carrying value approximates the fair market value for interest bearing cash classified as restricted cash, non-current.</div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 18pt; vertical-align: top;">b.</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div><span style="color: rgb(0, 0, 0);">Long-term debt and other financial liabilities: The carrying value of long-term debt and other financial liabilities with variable interest rates approximates the fair value as the long-term debt and other financial liabilities bear interest at floating interest rate.</span></div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 18pt; vertical-align: top;">c.</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div><span style="color: rgb(0, 0, 0);">The aggregate fair value of the <span style="font-style: italic;">Exelixsea</span> </span><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"><span style="color: rgb(0, 0, 0); font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; text-align: justify; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">(classified as “Vessels held for sale” in the accompanying unaudited interim condensed consolidated balance sheet as of June 30, 2026) on the sale agreement was determined to be its carrying amount of $<span style="text-indent: 0pt;">15,041</span> which was lower than its fair value based on the agreed sale price, net of commission of $<span style="text-indent: 0pt;">16,975</span> (Level 2).</span></span></div> </td> </tr> </table> <div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">d.</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The fair value as of the acquisition date of $421</span> <span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">of the below-market time charter attached to the</span> <span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Squireship </span><span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">was determined through Level 2 inputs of the fair value hierarchy as described in Note 2(a).</span></div> </td> </tr> </table> </div> 15041000 16975000 421000 <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">11.</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0);">Commitments and Contingencies:</div> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Contingencies</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Various claims, lawsuits, and complaints, including those involving government regulations and product liability, arise in the ordinary course of the shipping business. In addition, losses may arise from disputes with charterers, agents, insurance and other claims with suppliers relating to the operations of the Company’s vessels. As of June 30, 2026, management is not aware of any material claims or contingent liabilities, which have not been disclosed, or for which a provision has not been established in the accompanying unaudited interim condensed consolidated financial statements.</div> <div><br/></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The Company accrues for the cost of environmental liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure. Currently, management is not aware of any such claims or contingent liabilities that should be disclosed, or for which a provision should be established in the accompanying unaudited interim condensed consolidated financial statements. The Company is covered for liabilities associated with the individual vessels’ actions to the maximum limits as provided by Protection and Indemnity (P&amp;I) Clubs, members of the International Group of P&amp;I Clubs.</div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><span style="color: rgb(0, 0, 0);"> </span><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Commitments</div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><span style="color: rgb(0, 0, 0);"> </span><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The Company operates certain of its vessels under lease agreements. Time charters typically may provide for charterers’ options to extend the lease terms and termination clauses. The Company’s time charters duration is approximately 10 to 24 months, except for a voyage trip of the <span style="font-style: italic;">Exelixsea</span>. In addition, the time charters contain termination clauses which protect either the Company or the charterers from material adverse events. Variable lease payments in the Company’s time charters vary based on changes on freight market index. The Company has the option to convert some of these variable lease payments to fixed based on the prevailing Capesize and Panamax forward freight agreement rates.</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">As at June 30, 2026, the Company operates most of its vessels under time charter agreements, considered as operating leases accounted for as per ASC 842 requirements.</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The following table sets forth the Company’s future minimum contractual charter revenue based on vessels committed to non-cancelable time charter contracts as at June 30, 2026. For index-linked time charter contracts the calculation was made using the charter rates that prevail at the balance sheet date for index-linked time charters and the fixed rates for fixed periods time charters (these amounts do not include any assumed off-hire).</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%; border-spacing: 0;"> <tr> <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-weight: bold;">Twelve-month period ending June 30,</div> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Amount</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">2027</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0);">25,824</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">2028<br/> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">3,451</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-weight: bold;">Total</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold;">29,275</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> </tr> </table> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> <br/> </span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">As at June 30, 2026, the Company has an option to purchase the <span style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-variant: normal; font-weight: normal; letter-spacing: normal; text-align: left; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-style: normal;"><span style="font-style: italic;">Dukeship</span> </span><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; text-align: left; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; display: inline ! important; float: none;">at the end of 18-month bareboat charter for $22,050 (Note 6).</span></span></div> P10M P24M <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The following table sets forth the Company’s future minimum contractual charter revenue based on vessels committed to non-cancelable time charter contracts as at June 30, 2026. For index-linked time charter contracts the calculation was made using the charter rates that prevail at the balance sheet date for index-linked time charters and the fixed rates for fixed periods time charters (these amounts do not include any assumed off-hire).</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%; border-spacing: 0;"> <tr> <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-weight: bold;">Twelve-month period ending June 30,</div> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Amount</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">2027</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0);">25,824</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">2028<br/> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">3,451</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: top; width: 88%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0); font-weight: bold;">Total</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0); font-weight: bold;">29,275</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> </tr> </table> 25824000 3451000 29275000 P18M 22050000 <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">12.</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0);">Capital Structure:</div> </td> </tr> </table> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Details of the Company’s common stock and warrants are discussed in Note 11 of the consolidated financial statements for the year ended December 31, 2025, included in the Company’s 2025 Annual Report on Form 20-F filed with the SEC on April 8, 2026 and are supplemented by the below new activities into the six-month period ended June 30, 2026.</div> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 18pt;"><br/> </td> <td style="width: 27pt; vertical-align: top; color: rgb(0, 0, 0);">i)</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0);">Dividends</div> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">On May 20, 2026, the Company declared a dividend of $0.10 per common share for the first quarter of 2026 to all shareholders of record as of June 29, 2026 (Note 17). The dividend amounted to $954 was paid on July 10, 2026 and is included in “Dividends payable” in the accompanying condensed consolidated balance sheets.</div> <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">On March 10, 2026, the Company declared a regular quarterly cash dividend of $0.10 per common share for the fourth quarter of 2025 to all shareholders of record as of March 27, 2026. The dividend amounted to $954 and was paid on April 10, 2026.<br/> <br/> On January 9, 2026, the Company paid a regular quarterly cash dividend of $818 for the third quarter of 2025 to all shareholders of record as of December 29, 2025.<br/> <br/> Total dividends declared in the six-months period ended June 30, 2026 amounted to $1,908.<br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 18pt;"><br/> </td> <td style="width: 27pt; vertical-align: top; color: rgb(0, 0, 0);">ii)</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0);">Warrants</div> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><span style="color: rgb(0, 0, 0);">During the six-month period ended June 30, 2026, no shares were issued from Class A warrants’ exercises. As of June 30, 2026, 6,962,770 Class A warrants remained outstanding. The exercise price of the Class A warrants is $2.25 per common share. All warrants are classified in equity, according to the Company’s accounting policy. The warrants contain a cashless exercise provision, whereby if at the time of exercise, there is no effective registration statement, then the warrants can be exercised by means of a cashless exercise as disclosed in the warrant’s agreement.</span></div> <div><br/></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">As of June 30, 2026, the number of common shares that can potentially be issued under the outstanding Class A warrants were 6,962,770.</div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"> <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 18pt;"><br/> </td> <td style="width: 27pt; vertical-align: top; color: rgb(0, 0, 0);">iii)</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';"> <div style="text-align: left; font-size: 10pt;">Common stock buybacks</div> </div> </td> </tr> </table> </div> <div style="text-align: justify; margin-right: 0.6pt; margin-left: 0.6pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; margin-right: 0.6pt; margin-left: 0.6pt; font-family: 'Times New Roman'; font-size: 10pt;">During the six-month period ended June 30, 2026, the Company repurchased 9,506 of its outstanding common shares at an average price of approximately $1.74 per share for a total of $17, inclusive of commissions and fees. All the repurchased shares were cancelled and restored to the status of authorized but unissued shares as of June 30, 2026.</div> 2026-05-20 0.1 2026-06-29 954000 2026-07-10 2026-03-10 0.1 2026-03-27 954000 2026-04-10 2026-01-09 818000 2025-12-29 1908000 0 6962770 2.25 6962770 9506 1.74 17000 <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">13.</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0);">Vessel Revenue, net and Voyage Expenses:</div> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The Company disaggregates its revenue from contracts with customers by the type of charter (time and spot charters). <span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-weight: normal;">The following table presents the Company’s income statement figures derived from time charters for the six-month periods ended June 30, 2026 and 2025: </span></div> <div><br/></div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%; border-spacing: 0;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">  June 30,</div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> 2026</div> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div> <div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> June 30,</div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> 2025<br/> </div> </div> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom">Vessel revenues from spot charters, net of commissions<br/> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">-</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <br/> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">3,620<br/> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Vessel revenues from time charters, net of commissions</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="color: rgb(0, 0, 0);">17,937<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="color: rgb(0, 0, 0);">16,607<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Total</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">17,937<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">20,227<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> Demurrage income for the six-month period ended June 30, 2026 and 2025 was $<span style="-sec-ix-hidden:Fact_8e780d9d8f264c2cb103d24b27ca4a81">NIL</span> and $118, respectively.<br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> For the six-month period ended June 30, 2026 and 2025, the amortization of the below market acquired time charters amounted to $163 and $<span style="-sec-ix-hidden:Fact_d2d96ae230ec4aaca3b57f2a83fcb1bf">NIL</span> and accounted as an addition to “Vessel revenue, net”. As of June 30, 2026 and December 31, 2025, the below market acquired time charters amounted to $259 and $<span style="-sec-ix-hidden:Fact_53ddc59679e74eda851682dfab925b3e">NIL</span>, respectively, and are presented under “Liabilities assumed from time charter attached” in the accompanying condensed consolidated balance sheets.<br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">As of June 30, 2026 and December 31, 2025, the trade accounts receivable was $1,064 and $1,421, respectively, and related to time charters.</div> <div><br/></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Deferred revenue represents cash received in advance of performance under the contract prior to the balance sheet date and is realized when the associated revenue is recognized under the contract in periods after such date. Deferred revenue as of June 30, 2026 and December 31, 2025 was $814 and $415, respectively, and relates entirely to ASC 842. As of June 30, 2026 and December 31, 2025, an amount of $<span style="-sec-ix-hidden:Fact_3841b052d37c4f24b1d4939e00fd7a43">NIL</span> and $15, respectively, related to ballast bonus payments made by charterers for the ballast trip which are deferred and recognized on a straight line over the charter period.</div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"> As of June 30, 2026 and December 31, 2025, an amount of $<span style="-sec-ix-hidden:Fact_09f28f29e70b47f7a93a4e2fb5734b3a">NIL</span> and $163, respectively, included in “Deferred revenue” and related to time charter arrangements which were treated as lease modification and not accounted for as separate contract.<br/> </div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Charterers individually accounting for more than 10% of revenues for the six-month periods ended June 30, 2026 and 2025 were:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%; border-spacing: 0;"> <tr> <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); width: 32%;" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Customer</div> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 2%;" valign="bottom"> </td> <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); width: 31.63%;" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">2026<br/> </div> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 2%; white-space: nowrap;" valign="bottom"> </td> <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); width: 31.63%;" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">2025<br/> </div> </td> </tr> <tr> <td style="vertical-align: top; width: 32%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0);">A</div> </td> <td colspan="1" style="vertical-align: bottom; width: 2%; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 31.63%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;">22%</div> </td> <td colspan="1" style="vertical-align: bottom; width: 2%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;"> </div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 31.63%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;">14%</div> </td> </tr> <tr> <td style="vertical-align: top; width: 32%;" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0);">B</div> </td> <td colspan="1" style="vertical-align: bottom; width: 2%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 31.63%;" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;">16%</div> </td> <td colspan="1" style="vertical-align: bottom; width: 2%; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;"> </div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 31.63%;" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;">-</div> </td> </tr> <tr> <td style="vertical-align: top; width: 32%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0);">C</div> </td> <td colspan="1" style="vertical-align: bottom; width: 2%; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 31.63%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;">16%</div> </td> <td colspan="1" style="vertical-align: bottom; width: 2%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;"> </div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 31.63%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;">-</div> </td> </tr> <tr> <td style="vertical-align: top; width: 32%;" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0);">D</div> </td> <td colspan="1" style="vertical-align: bottom; width: 2%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 31.63%;" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;">16%</div> </td> <td colspan="1" style="vertical-align: bottom; width: 2%; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;"> </div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 31.63%;" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;">26%</div> </td> </tr> <tr> <td rowspan="1" style="vertical-align: top; width: 32%; text-align: center; background-color: rgb(204, 238, 255);" valign="bottom">E</td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 2%; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: center; width: 31.63%; background-color: rgb(204, 238, 255);" valign="bottom">15%</td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 2%; text-align: center; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: center; width: 31.63%; background-color: rgb(204, 238, 255);" valign="bottom">-</td> </tr> <tr> <td rowspan="1" style="vertical-align: top; width: 32%; text-align: center;" valign="bottom">F<br/> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 2%;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: center; width: 31.63%;" valign="bottom">15%</td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 2%; text-align: center; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: center; width: 31.63%;" valign="bottom">14%</td> </tr> <tr> <td rowspan="1" style="vertical-align: top; width: 32%; border-bottom: 2px solid rgb(0, 0, 0); text-align: center; background-color: rgb(204, 238, 255);" valign="bottom">G<br/> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 2%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: center; width: 31.63%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">-</td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 2%; padding-bottom: 2px; text-align: center; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: center; width: 31.63%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">37%</td> </tr> <tr> <td style="vertical-align: top; width: 32%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0);">Total</div> </td> <td colspan="1" style="vertical-align: bottom; width: 2%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 31.63%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;">100%</div> </td> <td colspan="1" style="vertical-align: bottom; width: 2%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;"> </div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 31.63%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;">91%</div> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div><span style="font-style: italic; font-family: 'Times New Roman'; font-size: 10pt;">Voyage Expenses</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="text-align: justify; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">The following table presents the Company’s statement of operations’ figures derived from time charters and for unfixed periods for the period from for the six-month periods ended June 30, 2026 and 2025:<br/> </div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%; border-spacing: 0;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">  June 30,</div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">2026<br/> </div> </div> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">  June 30,</div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> 2025</div> </div> </div> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Voyage expenses from time charters</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">735</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">836</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" style="vertical-align: bottom; width: 76%;" valign="bottom">Voyage expenses from spot charters <br/> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> -<br/> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> 1,371<br/> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Voyage expenses for unfixed periods<br/> </div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0);">-</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0);">369</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Total</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <div style="color: rgb(0, 0, 0);">735</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <div style="color: rgb(0, 0, 0);">2,576</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> <span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-weight: normal;">The following table presents the Company’s income statement figures derived from time charters for the six-month periods ended June 30, 2026 and 2025: </span> <div><br/></div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%; border-spacing: 0;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">  June 30,</div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> 2026</div> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div> <div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> June 30,</div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> 2025<br/> </div> </div> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom">Vessel revenues from spot charters, net of commissions<br/> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">-</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <br/> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">3,620<br/> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Vessel revenues from time charters, net of commissions</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="color: rgb(0, 0, 0);">17,937<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="color: rgb(0, 0, 0);">16,607<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Total</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">17,937<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">20,227<br/> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> </table> 0 3620000 17937000 16607000 17937000 20227000 118000 -163000 259000 1064000 1421000 814000 415000 15000 163000 <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Charterers individually accounting for more than 10% of revenues for the six-month periods ended June 30, 2026 and 2025 were:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table border="0" cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%; border-spacing: 0;"> <tr> <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); width: 32%;" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Customer</div> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 2%;" valign="bottom"> </td> <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); width: 31.63%;" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">2026<br/> </div> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 2%; white-space: nowrap;" valign="bottom"> </td> <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); width: 31.63%;" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">2025<br/> </div> </td> </tr> <tr> <td style="vertical-align: top; width: 32%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0);">A</div> </td> <td colspan="1" style="vertical-align: bottom; width: 2%; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 31.63%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;">22%</div> </td> <td colspan="1" style="vertical-align: bottom; width: 2%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;"> </div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 31.63%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;">14%</div> </td> </tr> <tr> <td style="vertical-align: top; width: 32%;" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0);">B</div> </td> <td colspan="1" style="vertical-align: bottom; width: 2%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 31.63%;" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;">16%</div> </td> <td colspan="1" style="vertical-align: bottom; width: 2%; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;"> </div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 31.63%;" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;">-</div> </td> </tr> <tr> <td style="vertical-align: top; width: 32%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0);">C</div> </td> <td colspan="1" style="vertical-align: bottom; width: 2%; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 31.63%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;">16%</div> </td> <td colspan="1" style="vertical-align: bottom; width: 2%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;"> </div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 31.63%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;">-</div> </td> </tr> <tr> <td style="vertical-align: top; width: 32%;" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0);">D</div> </td> <td colspan="1" style="vertical-align: bottom; width: 2%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 31.63%;" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;">16%</div> </td> <td colspan="1" style="vertical-align: bottom; width: 2%; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;"> </div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 31.63%;" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;">26%</div> </td> </tr> <tr> <td rowspan="1" style="vertical-align: top; width: 32%; text-align: center; background-color: rgb(204, 238, 255);" valign="bottom">E</td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 2%; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: center; width: 31.63%; background-color: rgb(204, 238, 255);" valign="bottom">15%</td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 2%; text-align: center; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: center; width: 31.63%; background-color: rgb(204, 238, 255);" valign="bottom">-</td> </tr> <tr> <td rowspan="1" style="vertical-align: top; width: 32%; text-align: center;" valign="bottom">F<br/> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 2%;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: center; width: 31.63%;" valign="bottom">15%</td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 2%; text-align: center; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: center; width: 31.63%;" valign="bottom">14%</td> </tr> <tr> <td rowspan="1" style="vertical-align: top; width: 32%; border-bottom: 2px solid rgb(0, 0, 0); text-align: center; background-color: rgb(204, 238, 255);" valign="bottom">G<br/> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 2%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: center; width: 31.63%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">-</td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 2%; padding-bottom: 2px; text-align: center; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: center; width: 31.63%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">37%</td> </tr> <tr> <td style="vertical-align: top; width: 32%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0);">Total</div> </td> <td colspan="1" style="vertical-align: bottom; width: 2%; padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 31.63%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;">100%</div> </td> <td colspan="1" style="vertical-align: bottom; width: 2%; padding-bottom: 4px; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;"> </div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 31.63%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom"> <div style="color: rgb(0, 0, 0); text-align: center;">91%</div> </td> </tr> </table> 0.22 0.14 0.16 0 0.16 0 0.16 0.26 0.15 0 0.15 0.14 0 0.37 1 0.91 <div style="text-align: justify; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">The following table presents the Company’s statement of operations’ figures derived from time charters and for unfixed periods for the period from for the six-month periods ended June 30, 2026 and 2025:<br/> </div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%; border-spacing: 0;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">  June 30,</div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">2026<br/> </div> </div> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">  June 30,</div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> 2025</div> </div> </div> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Voyage expenses from time charters</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">735</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">836</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" style="vertical-align: bottom; width: 76%;" valign="bottom">Voyage expenses from spot charters <br/> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> -<br/> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> 1,371<br/> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Voyage expenses for unfixed periods<br/> </div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0);">-</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0);">369</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Total</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <div style="color: rgb(0, 0, 0);">735</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <div style="color: rgb(0, 0, 0);">2,576</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> 735000 836000 0 1371000 0 369000 735000 2576000 <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">14.</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0);">Interest and Finance Costs:</div> </td> </tr> </table> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><span style="color: rgb(0, 0, 0);"> </span><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Interest and finance costs are analyzed as follows:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%; border-spacing: 0;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> June 30,</div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> 2026</div> </div> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">June 30,</div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> 2025</div> </div> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Interest on long-term debt and other financial liabilities</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">1,889</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">2,859</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Interest on finance lease liability</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0);">154</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0);">453</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Amortization of debt finance costs and debt discounts</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0);">197</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0);">337</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Other</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="color: rgb(0, 0, 0);">2</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="color: rgb(0, 0, 0);">43</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Total</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" valign="bottom"> <div style="color: rgb(0, 0, 0);">2,242</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" valign="bottom"> <div style="color: rgb(0, 0, 0);">3,692</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Interest and finance costs are analyzed as follows:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%; border-spacing: 0;"> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> June 30,</div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> 2026</div> </div> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">June 30,</div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> 2025</div> </div> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Interest on long-term debt and other financial liabilities</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">1,889</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">2,859</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Interest on finance lease liability</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0);">154</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> <div style="color: rgb(0, 0, 0);">453</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Amortization of debt finance costs and debt discounts</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0);">197</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom"> <div style="color: rgb(0, 0, 0);">337</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Other</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="color: rgb(0, 0, 0);">2</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom"> <div style="color: rgb(0, 0, 0);">43</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" valign="bottom"> <div style="text-indent: -7.2pt; margin-left: 7.2pt; color: rgb(0, 0, 0);">Total</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" valign="bottom"> <div style="color: rgb(0, 0, 0);">2,242</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" valign="bottom"> <div style="color: rgb(0, 0, 0);">3,692</div> </td> <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; white-space: nowrap;" valign="bottom"> </td> </tr> </table> 1889000 2859000 154000 453000 197000 337000 2000 43000 2242000 3692000 <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">15.</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0);">Earnings / (loss) per Share:</div> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The calculation of earnings / (loss) per common share is summarized below:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%; border-spacing: 0;"> <tr> <td style="vertical-align: top; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> June 30, </div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">2026</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> June 30, </div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">2025</div> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);"> <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;">Net income / (loss)</div> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">1,021</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">(3,507</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0);">)</div> </td> </tr> <tr> <td rowspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 2px;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;">Less: Net income / (loss) attributable to non-controlling interest</div> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">71</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">(6</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom">)</td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);"> <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;">Net income / (loss) attributable to common shareholders, basic and diluted</div> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">$<br/> </div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">950</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">$<br/> </div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">(3,501</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0);">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%;" valign="bottom"> <div style="text-indent: -18pt; margin-left: 18pt;"> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);"> <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;">Weighted average number of common shares outstanding, basic</div> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">9,060,304</td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">8,802,941</td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" style="vertical-align: bottom; width: 76%;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;">Weighted average number of common shares outstanding, diluted</div> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">9,508,453</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">8,802,941</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -18pt; margin-left: 18pt;"> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; white-space: nowrap;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;">Earnings / (loss) per share attributable to common shareholders, basic and diluted</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom">$</td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">0.10</td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom">$</td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">(0.40</td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">)</td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-family: 'Times New Roman';"><br/> </span> </div> <div><span style="font-family: 'Times New Roman';"> </span></div> <div><span style="font-family: 'Times New Roman';"> </span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Company calculates basic earnings / (loss) per share in conformity with the two-class method required for companies with participating securities. The calculation of basic earnings / (loss) per share does not consider the non-vested shares as outstanding until the time-based vesting restrictions have lapsed. For the six-month period ended June 30, 2026, the treasury stock method is used to calculate <span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">earnings</span> / (loss) per share since the effect of shares issued under the Company’s equity incentive plan (Note 16) is more dilutive than the two-class method. For the six-month period ended June 30, 2026, undistributed income to non-vested participating securities was not calculated, because doing so would result in undistributed losses.</div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> <span style="font-family: 'Times New Roman';"><br/> </span></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">For the six-month period ended June 30, 2026, unexercised warrants were included in the computation of diluted shares that were in-the-money<span style="font-size: 10pt;">.</span></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The calculation of earnings / (loss) per common share is summarized below:</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <table cellpadding="0" cellspacing="0" class="cfttable" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%; border-spacing: 0;"> <tr> <td style="vertical-align: top; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> June 30, </div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">2026</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px; white-space: nowrap;" valign="bottom"> <div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> June 30, </div> <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">2025</div> </div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);"> <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;">Net income / (loss)</div> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">1,021</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">$</div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">(3,507</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0);">)</div> </td> </tr> <tr> <td rowspan="1" style="vertical-align: bottom; width: 76%; padding-bottom: 2px;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;">Less: Net income / (loss) attributable to non-controlling interest</div> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">71</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" valign="bottom">(6</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; white-space: nowrap;" valign="bottom">)</td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);"> <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;">Net income / (loss) attributable to common shareholders, basic and diluted</div> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">$<br/> </div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">950</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">$<br/> </div> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);">(3,501</div> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> <div style="color: rgb(0, 0, 0);">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%;" valign="bottom"> <div style="text-indent: -18pt; margin-left: 18pt;"> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="color: rgb(0, 0, 0);"> <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;">Weighted average number of common shares outstanding, basic</div> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">9,060,304</td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">8,802,941</td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td rowspan="1" style="vertical-align: bottom; width: 76%;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;">Weighted average number of common shares outstanding, diluted</div> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">9,508,453</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">8,802,941</td> <td colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom"> <div style="text-indent: -18pt; margin-left: 18pt;"> </div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF; white-space: nowrap;" valign="bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; white-space: nowrap;" valign="bottom"> <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;">Earnings / (loss) per share attributable to common shareholders, basic and diluted</div> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom">$</td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">0.10</td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom"> </td> <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom"> </td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;" valign="bottom">$</td> <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">(0.40</td> <td colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; white-space: nowrap;" valign="bottom">)</td> </tr> </table> 1021000 -3507000 71000 -6000 950000 950000 -3501000 -3501000 9060304 8802941 9508453 8802941 0.1 0.1 -0.4 -0.4 <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">16.</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0);">Equity Incentive Plan:</div> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Details of the Company’s Equity Incentive Plan are discussed in Note 16 of the consolidated financial statements for the year ended December 31, 2025, included in the Company’s 2025 Annual Report on Form 20-F filed with the SEC on April 8, 2026 and are supplemented by the below new activities into the six-month period ended June 30, 2026.</div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">On March 9, 2026, the Compensation Committee of our board of directors approved a further amendment and restatement of our 2022 Equity Incentive Plan to increase the aggregate number of common shares reserved for issuance under the plan to 500,000 shares. On the same date, the Compensation Committee granted an aggregate of 464,000 restricted shares of common stock pursuant to the Plan. Of the total 464,000 common shares issued on March 9, 2026, 340,000 common shares were granted to the members of the Company’s board of directors and 124,000 common shares were granted to certain of the Company’s service providers and to the sole director of the Company’s commercial manager, a non-employee. The fair value of each share on the grant date was $2.07. 115,000 shares vested on the date of the issuance, March 9, 2026, 154,000 shares will vest on September 9, 2026, 117,000 shares will vest on April 9, 2027 and 78,000 shares will vest on September 9, 2027.</span></div> <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;"> <br/> </span></div> <div><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-size: 10pt;"><span style="font-weight: normal; color: rgb(0, 0, 0); font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The related expense for shares granted to the Company’s Board of Directors and certain of its service providers for the six-month period ended June 30, 2026 and 2025, amounted to $<span style="font-size: 10pt;">573 and $300</span>, respectively, and is included under “General and administration expenses” in the Company’s unaudited interim condensed consolidated statements of operations. The related expense for shares granted to non-employees for the six-months periods ended June 30, 2026 and 2025, amounted to $18 and $9, respectively, and is included under “Voyage expenses”.</span></span></div> <div><span style="font-family: 'Times New Roman',Times,serif; font-size: 12pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></span></div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: justify;">The unrecognized cost for the non-vested shares granted to the Company’s Board of Directors and certain of its service providers (Note 3) as of June 30, 2026 and December 31, 2025 amounted to $423 and $53, respectively. On June 30, 2026, the weighted-average period over which the total compensation cost related to non-vested awards granted to the Company’s Board of Directors and certain of its service providers not yet recognized is expected to be recognized is 1.19 years.<br/> </div> 500000 464000 464000 340000 124000 2.07 115000 154000 117000 78000 573000 300000 18000 9000 423000 53000 P1Y2M8D <table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000; border-spacing: 0;"> <tr> <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">17.</td> <td style="width: auto; vertical-align: top; text-align: justify;"> <div style="color: rgb(0, 0, 0);">Subsequent Events</div> </td> </tr> </table> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="text-align: justify; margin-right: 1.5pt; margin-left: 1.5pt; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: normal; font-style: normal; font-variant: normal; text-transform: none;">On July 10, 2026, the Company paid a regular quarterly cash dividend of $954 for the first quarter of 2026 to all shareholders of record as of June 29, 2026 (Note 12).</div> <div><br/></div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> On July 29, 2026, the Company declared a regular quarterly cash dividend of $0.10 per common share for the second quarter of 2026 payable on or about October 9, 2026 to all shareholders of record as of September 25, 2026.<br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">On August 3, 2026, the Company entered into a memorandum of agreement with Village Seven, as sellers, for the exercise of the purchase option for the <span style="font-style: italic;">Exelixsea</span> pursuant to the Village Seven Sale and Leaseback.<br/> </div> 2026-07-10 954000 2026-06-29 2026-07-29 0.1 2026-10-09 2026-09-25 included in “Vessel revenue, net” (Note 13) in the accompanying unaudited interim condensed consolidated statement of operations presented in “Gain on sale of vessels, net” (Note 5) in the accompanying unaudited interim condensed consolidated statement of operations