Heidmar CEO Letter to Shareholders
Heidmar Maritime Holdings Corp. (NASDAQ: HMR) has completed its business combination with MGO Global, Inc. Founded in 1984, Heidmar is a global tanker pool, commercial and technical management company headquartered in Greece, with subsidiaries across multiple countries.
The company currently manages a fleet of 44 vessels with approximately 6.5 million dwt capacity, and technically manages 4 vessels. Their services include commercial management, technical management, asset acquisition, and corporate management. For H1 2024, Heidmar reported unaudited revenues of $16.4 million and net income of $1.9 million.
Following the merger, Heidmar has 57,102,585 shares outstanding, with insiders owning 92% under a four-month lock-up period. The company aims to expand through organic growth and M&A opportunities, focusing on industry consolidation and decarbonization trends.
Heidmar Maritime Holdings Corp. (NASDAQ: HMR) ha completato la sua fusione con MGO Global, Inc. Fondata nel 1984, Heidmar è un pool di petroliere globale e una società di gestione commerciale e tecnica con sede in Grecia, con filiali in diversi paesi.
Attualmente, l'azienda gestisce una flotta di 44 navi con una capacità di circa 6,5 milioni di dwt e gestisce tecnicamente 4 navi. I loro servizi includono gestione commerciale, gestione tecnica, acquisizione di asset e gestione aziendale. Per il primo semestre del 2024, Heidmar ha riportato ricavi non verificati di 16,4 milioni di dollari e un reddito netto di 1,9 milioni di dollari.
Dopo la fusione, Heidmar ha 57.102.585 azioni in circolazione, con gli insider che possiedono il 92% delle azioni sotto un periodo di lock-up di quattro mesi. L'azienda mira ad espandersi attraverso la crescita organica e opportunità di M&A, concentrandosi sulla consolidazione del settore e sulle tendenze di decarbonizzazione.
Heidmar Maritime Holdings Corp. (NASDAQ: HMR) ha completado su fusión con MGO Global, Inc. Fundada en 1984, Heidmar es un pool de petroleros global y una empresa de gestión comercial y técnica con sede en Grecia, con filiales en varios países.
Actualmente, la empresa gestiona una flota de 44 buques con una capacidad de aproximadamente 6,5 millones de dwt y gestiona técnicamente 4 buques. Sus servicios incluyen gestión comercial, gestión técnica, adquisición de activos y gestión corporativa. Para el primer semestre de 2024, Heidmar reportó ingresos no auditados de 16,4 millones de dólares y un ingreso neto de 1,9 millones de dólares.
Tras la fusión, Heidmar tiene 57.102.585 acciones en circulación, con los internos poseyendo el 92% bajo un período de lock-up de cuatro meses. La empresa busca expandirse a través del crecimiento orgánico y oportunidades de M&A, enfocándose en la consolidación de la industria y las tendencias de descarbonización.
Heidmar Maritime Holdings Corp. (NASDAQ: HMR)는 MGO Global, Inc.와의 사업 결합을 완료했습니다. 1984년에 설립된 Heidmar는 그리스에 본사를 둔 글로벌 유조선 풀 및 상업 및 기술 관리 회사로, 여러 나라에 자회사를 두고 있습니다.
현재 이 회사는 44척의 선박을 관리하고 있으며 약 650만 dwt의 용량을 보유하고 있으며, 4척의 선박을 기술적으로 관리하고 있습니다. 그들의 서비스에는 상업적 관리, 기술적 관리, 자산 인수 및 기업 관리가 포함됩니다. 2024년 상반기 동안 Heidmar는 1,640만 달러의 비감사 수익과 190만 달러의 순이익을 보고했습니다.
합병 후 Heidmar는 57,102,585주의 유통 주식을 보유하고 있으며, 내부자들은 4개월의 잠금 기간 동안 92%를 소유하고 있습니다. 이 회사는 유기적 성장과 M&A 기회를 통해 산업 통합 및 탈탄소화 추세에 집중하여 확장을 목표로 하고 있습니다.
Heidmar Maritime Holdings Corp. (NASDAQ: HMR) a finalisé sa fusion avec MGO Global, Inc. Fondée en 1984, Heidmar est un pool de pétroliers mondial et une société de gestion commerciale et technique dont le siège est en Grèce, avec des filiales dans plusieurs pays.
Actuellement, l'entreprise gère une flotte de 44 navires avec une capacité d'environ 6,5 millions de dwt et gère techniquement 4 navires. Leurs services comprennent la gestion commerciale, la gestion technique, l'acquisition d'actifs et la gestion d'entreprise. Pour le premier semestre 2024, Heidmar a rapporté des revenus non audités de 16,4 millions de dollars et un bénéfice net de 1,9 million de dollars.
Suite à la fusion, Heidmar a 57 102 585 actions en circulation, avec des initiés possédant 92 % sous une période de blocage de quatre mois. L'entreprise vise à se développer par une croissance organique et des opportunités de fusions et acquisitions, en se concentrant sur la consolidation de l'industrie et les tendances de décarbonisation.
Heidmar Maritime Holdings Corp. (NASDAQ: HMR) hat seine Unternehmensfusion mit MGO Global, Inc. abgeschlossen. Heidmar wurde 1984 gegründet und ist ein globaler Pool für Tankschiffe sowie ein Unternehmen für kommerzielle und technische Verwaltung mit Hauptsitz in Griechenland und Tochtergesellschaften in mehreren Ländern.
Das Unternehmen verwaltet derzeit eine Flotte von 44 Schiffen mit einer Kapazität von etwa 6,5 Millionen dwt und verwaltet technisch 4 Schiffe. Zu ihren Dienstleistungen gehören kommerzielle Verwaltung, technische Verwaltung, Vermögensakquisition und Unternehmensverwaltung. Für das erste Halbjahr 2024 berichtete Heidmar von 16,4 Millionen US-Dollar an nicht geprüften Einnahmen und einem Nettogewinn von 1,9 Millionen US-Dollar.
Nach der Fusion hat Heidmar 57.102.585 ausstehende Aktien, wobei Insider 92% unter einer viermonatigen Lock-up-Periode besitzen. Das Unternehmen strebt eine Expansion durch organisches Wachstum und M&A-Möglichkeiten an und konzentriert sich auf die Konsolidierung der Branche und Trends zur Dekarbonisierung.
- Strong H1 2024 performance with $1.9M net income
- High insider ownership (92%) with lock-up commitment
- Large fleet under management: 44 vessels with 6.5M dwt capacity
- Diversified global presence with multiple subsidiaries
- Heavy insider ownership concentration (92%) may affect stock liquidity
- technical management fleet (only 4 vessels)
Insights
Heidmar's business combination with MGO Global marks its transition to public markets with a differentiated maritime services model that has evolved significantly beyond its original tanker pool operations. The company's H1 2024 unaudited results showed
The company's strategic pivot from pure tanker pool management to a comprehensive maritime asset manager positions it to capitalize on two major industry tailwinds: consolidation and decarbonization. These forces are particularly challenging for small and mid-sized shipowners who lack scale advantages, creating natural demand for Heidmar's outsourced management services. The planned Houston expansion strategically targets the significant US energy shipping market, potentially opening access to American capital and customers.
Investors should note the unusual ownership structure - with
Heidmar's proprietary trading activities, where they lease vessels short-term to capitalize on market opportunities, represent both a potential upside and risk factor. Unlike pure fee-based services, these activities introduce market exposure but could significantly enhance returns during favorable shipping cycles.
The company's diversified service model across commercial management, technical management, asset acquisition, and corporate services creates multiple revenue streams while maintaining capital efficiency compared to direct vessel ownership. As industry decarbonization accelerates, Heidmar's expertise in optimizing operational efficiency positions it as a valuable partner for shipowners navigating complex environmental regulations and technology transitions.
ATHENS, Greece, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Following the completion of the business combination between Heidmar Maritime Holdings Corp. (NASDAQ: HMR) and MGO Global, Inc, Pankaj Khanna, the Chief Executive Officer of Heidmar addresses the below letter to Shareholders.
Dear Shareholders
I would like to thank you for your support during the merger process with MGO Global and welcome you to Heidmar.
Founded in 1984, Heidmar is a well-known and respected name in the global maritime community. We are a global, tanker pool, commercial and technical management company.
Headquartered in Greece, Heidmar operates through subsidiaries incorporated in the Marshall Islands, Singapore, United Kingdom, Dubai and Hong Kong, with planned expansion into Houston, which will allow Heidmar to piggyback on established tanker presence and infrastructure.
Traditionally, our primary business for which we are well known has been the commercial management of oil tanker pools. We were the initiators of the first oil tanker pools in the industry and continue to provide this service to shipowners and oil companies/traders.
Over the last five years our business model has evolved, and we have positioned ourselves as asset managers for financial investors and smaller to medium sized ship owners who want to invest in shipping but do not have the in-house resources or the scale to do so. Today we offer:
- Commercial Management: arranging the short-term or long-term employment of our customers’ vessels.
- Technical Management: the provision of crews and systems onboard ships to manage the day-to-day running.
- Currently, Heidmar commercially manages a fleet of 44 vessels, with an aggregate capacity of approximately 6.5 million dwt, and technically manages 4 vessels.
- Asset Acquisition: Identifying attractive opportunities in the shipping markets and executing acquisitions or asset sales for our customers or investors who for whom we arrange the entire transaction, including financing and asset management.
- Corporate Management: Assisting customers in legal set up, treasury, U.S. GAAP accounting and reporting
Depending upon our view on the market we also execute proprietary trades for our own balance sheet where we lease in assets for the short term to take advantage of market opportunities and also certain arbitrage opportunities as they arise.
As disclosed in our last SEC filings, for the six month period ended June 30, 2024, Heidmar‘s unaudited Results showed Revenues of
Our results for the year ended December 31, 2024, are expected to be released within April 2025.
Following the closing of the merger with MGO Global, Heidmar has a total of 57,102,585 shares outstanding.
Heidmar insiders own
In closing, our business has attractive growth prospects as the maritime industry is on the path of consolidation and decarbonization. In this context, small to medium sized shipowners find it increasingly more attractive to outsource to organizations like Heidmar, which can optimize operational efficiency and profitability rather than develop subscale operations in-house. We will consider both organic growth and M&A opportunities to grow the business.
On behalf of Heidmar’s management, I would like to thank you for your continued support.
About Heidmar, Inc.
Celebrating its 40th anniversary in 2024, Heidmar is an Athens based, first-class commercial and pool management business servicing the crude and product tanker market and is committed to safety, performance, relationships and transparency. With operations in Athens, London, Singapore, Chennai, Hong Kong and Dubai, Heidmar has a reputation as a reliable and responsible partner with a goal of maximizing our customers' profitability. Heidmar seeks to offer vessel owners a "one stop" solution for all maritime services in the crude oil, refined petroleum products and dry bulk shipping sectors. Heidmar believes its unique business model and extensive experience in the maritime industry allows the Company to achieve premier market coverage and utilization, as well as provide customers in the sector with seamless commercial transportation services. For more information, please visit www.heidmar.com.
Forward Looking Statements
This release contains certain forward-looking statements within the meaning of the federal securities laws with respect to the Company. All statements other than statements of historical facts contained in this press release, including statements regarding the Company’s future results of operations and financial position, business strategy, prospective costs, timing and likelihood of success, plans and objectives of management for future operations, future results of current and anticipated operations of Heidmar are forward-looking statements. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Company management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company’s control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in the forward-looking statements include unforeseen liabilities, expansion and growth of the Company’s operations, the failure of counterparties to fully perform their contracts with the Company, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker or drybulk vessel capacity, changes in the Company’s operating expenses, demand for the Company’s managed fleet, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general international geopolitical conditions and conflicts, potential disruption of shipping routes due to accidents or political events, vessel breakdowns and instances of off‐hires, and other factors. Please see the Company’s filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.
Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond the Company’s control, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. The Company does not give any assurance that it will achieve its expectations.
Investor Relations / Media:
Nicolas Bornozis
Capital Link
Tel. +1-212-661-7566
Email: heidmar@capitallink.com
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