Harry Vafias-backed Imperial Petroleum has sold an aframax tanker to affiliate C3is less than a month after spinning it off as a “pure play” bulker owner.
Nasdaq-listed C3is couched the $43m purchase of the 116,000-dwt aframax tanker Stealth Berana (built 2010) as a way to help boost the new organisation’s net asset value (NAV).
“We believe it will significantly enhance the company’s cash flow and earnings and assist in addressing our low price to NAV valuation,” C3is chief financial officer Diamantis Andriotis said.
