Runs ships carrying petroleum products, crude oil and drybulk cargo for energy companies, commodity traders and industrial users.
20-F for FY2025, filed Apr 29, 2026
Charterers pay a daily hire, generally in advance, for time-chartered vessels; the hire is earned over the charter. For voyage charters, they pay freight to move cargo between ports, with much of it paid after the voyage.
20-F for FY2025, filed Apr 29, 2026A time charter is a contract for the use of a vessel for a specific period of time and a specified daily charter hire rate, which is…View ↗
A voyage charter is a contract in which the vessel owner undertakes to transport a specific amount and type of cargo on a load…View ↗
Vessels may also be chartered under voyage charters, where a contract is made for the use of a vessel under which the Company is paid…View ↗
20-F for FY2025, filed Apr 29, 2026
FY2025 revenue by product or service ↗$161M
20-F for FY2025, filed Apr 29, 2026
$161M ↗| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Time charter revenues
Recurring
20-F for FY2025, filed Apr 29, 2026 |
42%
FY2022: 27%
|
Time charter revenues, FY2025
$68M Sources
|
Recurring |
|
Voyage charter revenues
Sold outright
20-F for FY2025, filed Apr 29, 2026 |
54%
FY2022: 70%
|
Voyage charter revenues, FY2025
$86.8M Sources
|
Sold outright |
Energy companies, energy traders and industrial users charter the tankers; drybulk charterers include industrial users, commodity producers and traders. Stealth Maritime manages vessel employment.
20-F for FY2025, filed Apr 29, 2026
Yes. It kept 31 cents of every revenue dollar as net income in FY2025.
Growing. Revenue grew 9.3x in 4 years, from $17.4M in FY2021 to $161M in FY2025, about 75% a year.
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