IMPP

Imperial Petroleum Inc. is a Marshall Islands company that provides seaborne transportation services for refined petroleum products and drybulk commodities. The company was incorporated on May 14, 2021, by StealthGas Inc. and completed its spin-off from StealthGas on December 21, 2021. The company operates a fleet of tankers and drybulk carriers, which are managed commercially and technically by Stealth Maritime Corporation S.A., a related party. The company's business is focused on the international shipping industry, specifically the transportation of crude oil, refined petroleum products, and drybulk cargo.

The company generates revenue primarily from charter hire payments by charterers of its vessels. It employs its vessels under three types of charters: time charters, bareboat charters, and voyage (spot) charters. Under time charters, the company is responsible for operating expenses, while charterers cover voyage expenses. Under bareboat charters, the charterer is responsible for both operating and voyage expenses. In the spot market, the company is responsible for both operating and voyage expenses. The company's revenues are driven by the number and type of vessels in its fleet, the number of voyage days, the mix of charters, and the hire rates, which are influenced by supply and demand in the tanker and drybulk charter markets. The company generates the substantial majority of its revenues in U.S. dollars.