The Company agreed to acquire a medium-range (MR) product tanker vessel with capacity of 49,997 dwt, built in 2015 in South Korea, from a related party of Marla Investments Inc., our majority shareholder, not under common control. The vessel will be purchased for a price of $39.25 million, with delivery expected between mid-June and mid-August of 2026. The transaction was approved by an independent committee consisting of disinterested directors. The Company will use own funds and debt to finance the acquisition of the vessel.

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