Heidmar Maritime Holdings Corp. reported its results for the quarter and six month period ended June 30, 2026.
Second Quarter 2026 Highlights
• Total revenues of $29.0 million, up from $9.6 million in Q2 2025 and up $10.6 million from Q1 2026.
• Net income attributable to shareholders of $2.2 million or $0.04 income per share, basic.
• Adjusted net income of $2.4 million, which excludes $0.2 million in non-cash stock-based compensation.
• Cash and cash equivalents of $28.7 million as of June 30, 2026.
SECOND QUARTER 2026 RESULTS COMPARED TO SECOND QUARTER 2025
Total revenues, earned from commissions, management fees and voyage and time charter hire, were $29.0 million for the three months period ended June 30, 2026, compared to $9.6 million for the three months period ended June 30, 2025. The increase of $19.4 million is mainly attributable to the increase in the average number of vessels under commercial management, and to the higher number of vessels employed under voyage and time charter arrangements. During the second quarter of 2026, six vessels were chartered out compared to two vessels during the corresponding second quarter of 2025. Net income attributable to shareholders was $2.2 million or $0.04 income per share, basic. General and administration expenses were $5.6 million for the three-month period ended June 30, 2026, compared to $4.7 million for the three-month period ended June 30, 2025. The increase of $0.9 million is mainly attributable to the higher cash bonuses paid to employees, which amounted to $1.8 million in 2026 compared to $1.4 million in 2025.
FIRST HALF 2026 RESULTS COMPARED TO FIRST HALF 2025
Total revenues earned mainly from commissions, management fees and time charter hires were $47.3 million for the six months ended June 30, 2026, up $32.1 million from $15.2 million in the same period of 2025, due to the increase in the average number of vessels under commercial management, and to the higher number of vessels employed under voyage and time charter arrangements. During the first half of 2026, eight vessels were chartered out compared to two vessels during the corresponding first half of 2025. Net income attributable to shareholders was $5.0 million or $0.08 income per share, basic.
Key quarterly highlights:
Fleet Developments:
Within the second quarter of 2026 the company continued to scale its commercially managed fleet, adding seven vessels under management, with additional growth anticipated in the quarters ahead as we continue to execute on our asset-light expansion strategy.
- One scrubber-fitted, super-eco Suezmax tanker, built 2026.
- Three Dual Fuel LNG capable and scrubber-fitted Suezmax tankers, built 2026.
- One Dual Fuel LNG capable Aframax tanker, built 2026.
- Two MR tankers, built 2007 and 2016.
Management Commentary Pankaj Khanna, Chief Executive Officer of Heidmar, commented: “We are pleased to report another quarter of strong operational and strategic progress. During the second quarter of 2026, Heidmar generated revenue of $29.0 million and adjusted net income of $2.4 million (which excludes $0.2 million in non cash stock-based compensation), or $0.04 per share, reflecting continued growth in our commercially managed platform. The Company generated total revenue of $47.3 million for the six months ended June 30, 2026, compared to $15.2 million for the same period in 2025. The increase of $32.1 million was primarily driven by a higher number of vessels employed on short-term spot and time charter voyages during the quarter, as well as the overall expansion of the Company’s commercially managed fleet. Adjusted net income rose to $5.8 million, compared to $1.6 million in the same period last year, a result that strips out certain non-cash items and offers a clean view of the underlying earning power of the Heidmar platform. Within the first six months of 2026, administrative expenses amounted to $9.1 million, compared to $10.4 million in the first six months of 2025, representing a decrease of $1.3 million”.