Eneti Inc. Announces Availability of 2020 Annual Report on Form 20-F
Eneti filed its Annual Report on Form 20-F for the year ended December 31, 2020, with the Securities and Exchange Commission. Shareholders can access the report and request a hard copy that includes audited financial statements. The company is transitioning from dry bulk commodity transportation to focusing on marine-based renewable energy, specifically wind turbine installation vessels, with plans to sell remaining dry bulk vessels in Q1 2021.
- Transitioning to marine-based renewable energy focuses on growth in wind turbine installation.
- Plans to sell remaining dry bulk vessels may streamline operations and reduce operational costs.
- Dependence on successful sale of remaining dry bulk vessels poses financial uncertainty.
- Potential impact of COVID-19 on demand for dry bulk products and transportation.
MONACO, March 08, 2021 (GLOBE NEWSWIRE) -- Eneti Inc. (NYSE: NETI) (the “Company”) announced today that its Annual Report on Form 20-F for the year ended December 31, 2020 has been filed with the Securities and Exchange Commission and can be accessed on the Company’s website www.Eneti-Inc.com in the Investors section under Reports and Presentations.
Shareholders may also request a hard copy of the Annual Report, which includes the Company’s complete 2020 audited financial statements, free of charge, by contacting the Company at:
Eneti Inc.
Attn: Investor Relations
150 E 58th Street
New York, NY 10155
Tel: +1-646-432-1675
E-mail: Investor.Relations@Eneti-Inc.com
Reports and other information regarding the Company are also available without charge at a website maintained by the U.S. Securities and Exchange Commission at http://www.sec.gov.
About Eneti Inc.
Eneti Inc. announced on August 3, 2020, its intention to transition away from the business of dry bulk commodity transportation and towards marine-based renewable energy including investing in the next generation of wind turbine installation vessels. The Company intends to sell or have commitments to sell its remaining wholly-owned or finance leased dry bulk vessels during the first quarter of 2021. Additional information about the Company is available on the Company’s website www.Eneti-Inc.com, which is not a part of this press release.
Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements. We undertake no obligation, and specifically decline any obligation, except as required by law, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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, our management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the failure of counterparties to fully perform their contracts with us, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk vessel capacity, the length and severity of the ongoing novel coronavirus (COVID-19) outbreak, including its effects on demand for dry bulk products and the transportation thereof, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, counterparty performance, ability to obtain financing and the availability of capital resources (including for capital expenditures) and comply with covenants in such financing arrangements, planned capital expenditures, our ability to successfully identify, consummate, integrate and realize the expected benefits from acquisitions and changes to our business strategy, fluctuations in the value of our investments, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessel breakdowns and instances of off-hires and other factors. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.
FAQ
What is Eneti's transition plan announced in March 2021?
When was Eneti's Annual Report filed?
Where can I access Eneti's Annual Report?
What financial statements are included in Eneti's Annual Report?
How can shareholders request a hard copy of Eneti's Annual Report?
