Imperial Petroleum, a US-listed owner of eight tankers and four bulkers, has taken advantage of robust shipping markets to repay much of its debt ahead of time.
The Harry Vafias-led company said in a statement on Monday that it has recently repaid “early and in full” an outstanding $23.2m from a loan with DNB Bank.
This slashes the company’s total debt in one stroke by about a third, to $45m.
