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Record financial performance: Second-quarter revenue rose 140% year over year to $87.1 million, while net income increased 172% to $34.8 million, driven by stronger tanker and dry-bulk markets, fleet expansion and chartering activity.
Fleet and balance-sheet expansion: Imperial Petroleum expects its fleet to grow from 21 to 25 vessels by year-end and reported approximately $260 million in cash, $78 million in first-half operating cash flow and no debt.
Market outlook remains favorable but uncertain: Management cited strong tanker and dry-bulk rates, but warned that Middle East and Red Sea geopolitical disruptions, including conditions around the Strait of Hormuz, could materially affect cargo availability and freight rates.