Icon Energy announces the acquisition of Kamsarmax dry bulk carrier

Icon Energy announces that on August 2, 2024, it entered, through a separate wholly-owned subsidiary, into an agreement with an unaffiliated third-party to acquire a Kamsarmax dry bulk carrier, built in November 2007 in Japan, for a purchase price of $17.57 million. The Company expects to finance the purchase price of the vessel with a combination of cash on hand and borrowings under a new senior secured facility that the Company anticipates it will enter into prior to taking delivery of the vessel. Ismini Panagiotidi, Chairman and Chief Executive Officer of Icon Energy commented: “We are pleased to announce our first vessel acquisition since the completion of our Initial Public Offering. With our addition of this asset, we will double the size of our fleet, consistent with our growth strategy and goal to create value for our shareholders.”