From time to time the Company expects to be subject to legal proceedings and claims in the ordinary course of its business, principally personal injury and property casualty claims. Such claims, even if lacking merit, could result in the expenditure of significant financial and managerial resources. The Company is not aware of any such claims or contingent liabilities which should be disclosed, or for which a provision should be established in the accompanying unaudited interim condensed consolidated financial statements.

Future minimum contractual charter revenues, gross of commissions, based on vessels committed to non-cancellable, time charter contracts as of June 30, 2026, amount to $1,167,600 during the 12-month period ending June 30, 2027.

As of June 30, 2026, the Company had total obligations under memoranda of agreement (Note 3) for the acquisitions of the product tanker vessels “Clean Reaper (ex. San Remo)” and “Clean Fury”, of $16,880,000 and $22,900,000, respectively, with both payments due in January 2027.