Athens-based Imperial Petroleum remains positive on tanker and bulker markets despite a year-on-year fall in earnings.
The Nasdaq-listed company, controlled by Harry Vafias, said net profit in the first quarter was $16.7m, down from $35.7m in 2023.
Revenue dropped to $41.2m, against $65.4m in 2023, as average tanker freight rates fell 38% from the peak sparked by the Ukraine war a year ago.
