Imperial Petroleum Expands Fleet with $129M Investment

Imperial Petroleum, Inc. (IMPP) has released an update.

Imperial Petroleum Inc. is set to expand its maritime fleet through the purchase of seven Japanese-built bulkers for a total of $129 million, a move approved by the company’s independent directors. The vessels, acquired from Brave Maritime Corp Inc., are scheduled for delivery between December 2024 and May 2025, which will bring Imperial’s total fleet to 19 vessels. The company plans to finance the acquisition using its cash reserves and has up to a year from each purchase agreement to provide payment.

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