IMPP on Nasdaq
Imperial Petroleum Inc./Marshall Islands
In its 2026 annual report (Form 20-F) the company says: “We are a provider of international seaborne transportation services to oil producers, refineries and commodities traders and producers, as well as industrial users of drybulk cargoes.”5 Its shares trade on Nasdaq under the symbol IMPP.1
$5.00 down 0.26 (4.86%)Price as of Oct 15, 2026 at 17:33 UTC
Last updated Oct 21, 2026.
Overview
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- TickerIMPP on Nasdaq1
- IndustryDeep Sea Foreign Transportation of Freight1
- Headquarters1T1
- Incorporated inMarshall Islands4
- Business address331 Kifissias Avenue, Erithrea, Athens4
- Filer categoryNon-accelerated filer, Emerging growth company4
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We are a provider of international seaborne transportation services to oil producers, refineries and commodities traders and producers, as well as industrial users of drybulk cargoes. As of April 15, 2026, we owned and operated a fleet of seven medium range (“MR”) refined petroleum product tankers that carry refined petroleum products such as gasoline, diesel, fuel oil and jet fuel, as well as edible oils and chemicals, two suezmax tankers that carry crude oil, four handysize drybulk carriers that transport major bulks such as iron ore, coal and grains, and minor bulks such as bauxite, phosphate and fertilizers, five supramax drybulk carriers, two kamsarmax drybulk vessels and a post panamax drybulk carrier. The total cargo carrying capacity of our twenty-one vessel fleet is approximately 1,324,000 dwt. As of April 15, 2026, we had also contracted to acquire an additional four handysize …5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Time Charter Revenues brought in 85% of the revenue Imperial Petroleum Inc./Marshall Islands broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Time Charter Revenues | $21.7M | $20.2M | $68.0M |
| Voyage Charter Revenues | $19.2M | $23.8M | $12.1M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs69¢$111.0M
- Profit31¢$50.0M
Out of $161.0M in revenue.3
Where each dollar of operating cash went, fiscal 2025
- Kept or used elsewhere100¢$80.8M
Out of $80.8M of cash from operations.3
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenues | $161.0M | $147.5M | $183.7M |
| Voyage expenses | $47.4M | $50.2M | $60.3M |
| Voyage expenses related party | $2.0M | $1.9M | $2.3M |
| Vessels' operating expenses | $37.2M | $26.0M | $25.3M |
| Vessels' operating expenses related party | $523.0K | $328.0K | $346.6K |
| Dry-docking costs | $1.7M | $1.7M | $6.6M |
| Management fees related party | $2.6M | $1.7M | $1.6M |
| General and administrative expenses (including $465,176, $490,054 and $490,782 to related party) | $4.6M | $4.9M | $4.9M |
| Depreciation | $25.9M | $17.0M | $15.6M |
| Other operating income | -$885.4K | -$1.9M | $0 |
| Impairment loss | $0 | $0 | $9.0M |
| Net gain on sale of vessel related party | $0 | $0 | -$8.2M |
| Net loss on sale of vessel | $0 | $1.6M | $0 |
| Total expenses, net | $121.1M | $103.3M | $117.7M |
| Income from operations | $39.9M | $44.1M | $66.0M |
| Interest and finance costs | -$12.9K | -$16.3K | -$1.8M |
| Interest expense related party | -$2.3M | -$382.1K | $0 |
| Interest income | $7.3M | $6.7M | $4.5M |
| Interest income related party | $0 | $1.6M | $1.4M |
| Dividend income from related party | $760.4K | $762.5K | $404.2K |
| Foreign exchange gain / (loss) | $4.4M | -$2.7M | $700.3K |
| Other income, net | $10.1M | $6.0M | $5.1M |
| Net income | $50.0M | $50.2M | $71.1M |
| Earnings per share attributable to common shareholders basic | $1.35 | $1.54 | $3.22 |
| Earnings per share attributable to common shareholders diluted | $1.29 | $1.40 | $2.93 |
| Weighted average number of shares, basic | 34.5M shares | 29.9M shares | 18.6M shares |
| Weighted average number of shares, diluted | 36.2M shares | 33.0M shares | 22.9M shares |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 6 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2022-03-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $5.8M | $67.8M | |||
| Time deposits | $173.3M | $138.9M | |||
| Trade and other receivables | $13.4M | $13.5M | |||
| Other current assets | $1.1M | $652.8K | |||
| Claim Receivables | $479.5K | $0 | |||
| Inventories | $4.7M | $7.3M | |||
| Advances and prepayments | $245.0K | $250.6K | |||
| Total current assets | $199.0M | $228.4M | |||
| Operating lease right-of-use asset | $0 | $78.8K | |||
| Vessels, net | $335.4M | $208.2M | $180.8M | ||
| Investment in related party | $13.0M | $12.8M | |||
| Total non current assets | $348.4M | $221.1M | |||
| Total assets | $547.4M | $449.5M | |||
| Trade accounts payable | $6.0M | $5.2M | |||
| Payable to related parties | $3.0M | $18.7M | |||
| Accrued liabilities | $4.2M | $3.4M | |||
| Deferred income | $3.4M | $1.4M | |||
| Operating lease liability, current portion | $0 | $78.8K | |||
| Total current liabilities | $16.6M | $28.8M | |||
| Total liabilities | $16.6M | $28.8M | |||
| Capital stock, $0.01 par value, 2,000,000,000 authorized at December 31, 2024 and 2025, 38,275,518 issued and 34,023,635 shares outstanding at December 31, 2024 and 48,900,620 shares issued and 44,648,737 shares outstanding as at December 31, 2025 (Note 8) | $489.0K | $382.8K | |||
| Preferred stock | $8.1K | $8.1K | |||
| Treasury stock 4,251,883 shares at December 31, 2024 and 2025, respectively with a par value of $0.01 per share (Note 8) | -$8.4M | -$8.4M | |||
| Additional paid-in capital | $344.4M | $282.6M | |||
| Retained earnings | $194.3M | $146.0M | |||
| Total stockholders' equity | $530.8M | $420.7M | $362.3M | $281.7M | |
| Total liabilities and stockholders' equity | $547.4M | $449.5M | |||
| Common stock par or stated value per share | $0.01 | $0.01 | |||
| Common stock shares authorized | 2.0B shares | 2.0B shares | |||
| Common stock shares issued | 48.9M shares | 38.3M shares | 1.7M shares | ||
| Common stock shares outstanding | 44.6M shares | 34.0M shares | |||
| Preferred stock par or stated value per share | $0.01 | ||||
| Preferred stock shares authorized | 200.0M shares | 200.0M shares | |||
| Preferred stock shares outstanding | 811.9K shares | 811.9K shares | |||
| Treasury Stock, Common, Shares | 4.3M shares | 4.3M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2022-03-31 | 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | $5.8M | $67.8M | ||||
| Time deposits | $173.3M | $138.9M | ||||
| Trade and other receivables | $13.4M | $13.5M | ||||
| Other current assets | $1.1M | $652.8K | ||||
| Claim Receivables | $479.5K | $0 | ||||
| Inventories | $4.7M | $7.3M | ||||
| Advances and prepayments | $245.0K | $250.6K | ||||
| Total current assets | $199.0M | $228.4M | ||||
| Operating lease right-of-use asset | $0 | $78.8K | ||||
| Vessels, net | $335.4M | $208.2M | $180.8M | |||
| Investment in related party | $13.0M | $12.8M | ||||
| Total non current assets | $348.4M | $221.1M | ||||
| Total assets | $547.4M | $449.5M | ||||
| Trade accounts payable | $6.0M | $5.2M | ||||
| Payable to related parties | $3.0M | $18.7M | ||||
| Accrued liabilities | $4.2M | $3.4M | ||||
| Deferred income | $3.4M | $1.4M | ||||
| Operating lease liability, current portion | $0 | $78.8K | ||||
| Total current liabilities | $16.6M | $28.8M | ||||
| Total liabilities | $16.6M | $28.8M | ||||
| Capital stock, $0.01 par value, 2,000,000,000 authorized at December 31, 2024 and 2025, 38,275,518 issued and 34,023,635 shares outstanding at December 31, 2024 and 48,900,620 shares issued and 44,648,737 shares outstanding as at December 31, 2025 (Note 8) | $489.0K | $382.8K | ||||
| Preferred stock | $8.1K | $8.1K | ||||
| Treasury stock 4,251,883 shares at December 31, 2024 and 2025, respectively with a par value of $0.01 per share (Note 8) | -$8.4M | -$8.4M | ||||
| Additional paid-in capital | $344.4M | $282.6M | ||||
| Retained earnings | $194.3M | $146.0M | ||||
| Total stockholders' equity | $530.8M | $420.7M | $362.3M | $281.7M | ||
| Total liabilities and stockholders' equity | $547.4M | $449.5M | ||||
| Common stock par or stated value per share | $0.01 | $0.01 | ||||
| Common stock shares authorized | 2.0B shares | 2.0B shares | ||||
| Common stock shares issued | 48.9M shares | 38.3M shares | 1.7M shares | 318.4K shares | ||
| Common stock shares outstanding | 44.6M shares | 34.0M shares | ||||
| Preferred stock par or stated value per share | $0.01 | |||||
| Preferred stock shares authorized | 200.0M shares | 200.0M shares | ||||
| Preferred stock shares outstanding | 811.9K shares | 811.9K shares | ||||
| Treasury Stock, Common, Shares | 4.3M shares | 4.3M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income for the year | $50.0M | $50.2M | $71.1M |
| Depreciation | $25.9M | $17.0M | $15.6M |
| Amortization of deferred finance charges | $0 | $0 | $474.0K |
| Noncash lease expense | $78.8K | $71.2K | $62.6K |
| Shared based compensation | $3.2M | $3.4M | $2.4M |
| Impairment loss | $0 | $0 | $9.0M |
| Net gain on sale of vessel related party | $0 | $0 | -$8.2M |
| Net loss on sale of vessel | $0 | $1.6M | $0 |
| Unrealized foreign exchange (gain)/loss on time deposits | -$967.8K | $2.0M | -$426.0K |
| Dividends income from related party | $0 | $0 | -$404.2K |
| Trade and other receivables | $52.5K | $42.7K | -$6.5M |
| Other current assets | -$455.2K | -$350.0K | -$62.8K |
| Claim receivables | -$479.5K | $0 | $0 |
| Inventories | $2.6M | -$15.2K | -$1.9M |
| Changes in operating lease liabilities | -$78.8K | -$71.2K | -$62.6K |
| Advances and prepayments | $5.5K | -$88.6K | -$182.0K |
| Due from related party | -$191.7K | $2.2M | -$2.9M |
| Trade accounts payable | $716.1K | -$2.2M | $118.5K |
| Due to related party | -$2.4M | $3.1M | $0 |
| Accrued liabilities | $826.0K | $361.5K | $1.4M |
| Deferred income | $2.0M | $500.1K | -$54.9K |
| Net cash provided by operating activities | $80.8M | $77.7M | $79.5M |
| Dividends income received | $0 | $0 | $241.7K |
| Proceeds from sale of vessel, net | $0 | $41.2M | $3.9M |
| Payments for acquisition and capitalized expenses of vessels | -$1.7M | -$74.7M | -$28.1M |
| Purchase of bank time deposits | -$318.1M | -$259.6M | -$167.5M |
| Maturity of bank time deposits | $284.8M | $150.8M | $203.8M |
| Proceeds from seller financing | $0 | $35.7M | $0 |
| Net cash provided by/(used in) investing activities | -$35.1M | -$106.7M | $12.3M |
| Proceeds from issuance of Series B preferred shares | $655.0K | $475.0K | $0 |
| Proceeds from exercise of stock options | $60.0M | $0 | $29.1M |
| Proceeds from equity offerings | $2.1M | $8.6M | $0 |
| Stock issuance costs | -$4.0M | $0 | -$1.5M |
| Issuance costs on warrants exercise | $0 | -$22.2K | $0 |
| Stock repurchase | $0 | -$2.5M | -$5.9M |
| Warrants repurchase | $0 | $0 | -$1.5M |
| Dividends paid on preferred shares | -$1.7M | -$1.7M | -$2.1M |
| Loan repayments | $0 | $0 | -$70.4M |
| Repayment of seller and capital expenditures financing | -$164.7M | $0 | $0 |
| Cash retained by C3is Inc. at spin off | $0 | $0 | -$5.0M |
| Net cash (used in)/ provided by financing activities | -$107.7M | $4.8M | -$57.4M |
| Net increase/(decrease) in cash, cash equivalents | -$62.0M | -$24.1M | $34.4M |
| Interest paid | $2.7M | $0 | $1.7M |
| Non cash investing activity Vessel improvements included in liabilities | $0 | $0 | $859.3K |
| Non cash investing and financing activity Part payment of vessel acquisition through issuance of Series C Preferred Shares | $0 | $0 | $10.0M |
| Non cash investing activity Dividend on Series A Perpetual Convertible Preferred shares included in investment in related party | $354.2K | $162.5K | $162.5K |
| Non cash investing activity Vessel acquisition included in payable to related parties | $0 | $13.3M | $0 |
| Non cash financing activity Dividend on Series A Preferred Shares included in payable to related parties | $9.0K | $4.4K | $0 |
| Distribution of net assets of C3is Inc. to shareholders and warrant holders | $0 | $0 | $21.0M |
| Non cash investing activity Seller financing included in receivables from related party | $0 | $0 | $35.7M |
No quarter-by-quarter statement was filed.
Compare Imperial Petroleum Inc./Marshall Islands with another company
Corporate structure
Imperial Petroleum Inc./Marshall Islands sits at the top of its group. 2 entities on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Imperial Petroleum Inc./Marshall Islands
- Anson Funds Management LP Filed SCHEDULE 13G/A on Imperial Petroleum Inc./Marshall Islands, latest Aug 14, 2026 (3 filings since Feb 17, 2026)
- Flawless Management Inc. Filed SCHEDULE 13D/A on Imperial Petroleum Inc./Marshall Islands, latest Jun 24, 2026 (14 filings since Dec 13, 2021)
- Empery Asset Management, LP Filed SCHEDULE 13G/A on Imperial Petroleum Inc./Marshall Islands, latest Apr 15, 2026 (2 filings since Jan 28, 2026)
- WEXFORD CAPITAL LP Filed SCHEDULE 13G/A on Imperial Petroleum Inc./Marshall Islands, latest Sep 29, 2025 (2 filings since May 7, 2025)
- Hudson Bay Capital Management LP Filed SC 13G/A on Imperial Petroleum Inc./Marshall Islands, latest Nov 8, 2024 (2 filings since Feb 5, 2024)
- Arethusa Properties LTD Filed SC 13G on Imperial Petroleum Inc./Marshall Islands, latest Dec 11, 2023
- Galloway Capital Partners, LLC Filed SC 13D/A on Imperial Petroleum Inc./Marshall Islands, latest Oct 11, 2023 (3 filings since Aug 31, 2023)
- CVI Investments, Inc. Filed SC 13G/A on Imperial Petroleum Inc./Marshall Islands, latest Feb 14, 2023 (2 filings since Feb 10, 2022)
- MSD Partners, L.P. Filed SC 13G on Imperial Petroleum Inc./Marshall Islands, latest Feb 14, 2022
- Glendon Capital Management LP Filed SC 13G on Imperial Petroleum Inc./Marshall Islands, latest Feb 11, 2022
- TOWERVIEW LLC Filed SC 13G/A on Imperial Petroleum Inc./Marshall Islands, latest Jan 31, 2022 (2 filings since Dec 9, 2021)
- Imperial Petroleum Inc./Marshall Islands 1T
- C3is Inc. Stake · 1T
Built from major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (1 companies). Each entity in the chart links to its source.
What it owns
What Imperial Petroleum Inc./Marshall Islands reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $489.2M3 Dec 31, 2025 | $336.1M3 Dec 31, 2024 | +45.5% |
| Accumulated depreciation | $153.8M3 Dec 31, 2025 | $127.9M3 Dec 31, 2024 | +20.3% |
| Property and equipment, net | $335.4M3 Dec 31, 2025 | $208.2M3 Dec 31, 2024 | +61.1% |
| Operating-lease assets (leased space) | $03 Dec 31, 2025 | $78.8K3 Dec 31, 2024 | −100.0% |
Investments
Inventory
Leadership
Who has led Imperial Petroleum Inc./Marshall Islands, and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
- Chief executive officerHarry Vafias Mar 18, 2026 to now10
- PresidentHarry Vafias Mar 18, 2026 to now10
- Chief financial officerIfigeneia Sakellari Mar 18, 2026 to now11
Board members and other officers (3)
- Board memberGeorgios Xiradakis Mar 18, 2026 to now12
- Board memberHarry Vafias Mar 18, 2026 to now10
- Board memberIoannis Kostogiannis Mar 18, 2026 to now13
Timeline
- Mar 18, 2026New chief executive Harry Vafias becomes CEO10
Calendar
Coming up
- Dec 10, 2026Reports results for the quarter ending Sep/202614
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
256 filings to the SEC since October 2021: 5 annual reports, 6 insider forms, 33 large holders, 212 other. The latest 20:
- Sep 29, 20266-K EDGAR
- Sep 11, 20266-K EDGAR
- Aug 28, 20266-K EDGAR
- Aug 21, 20264 EDGAR
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Jun 24, 2026SCHEDULE 13D/A EDGAR
- Jun 24, 20264 EDGAR
- May 22, 20266-K EDGAR
- May 15, 2026SCHEDULE 13G/A EDGAR
- Apr 29, 202620-F EDGAR
- Apr 15, 2026SCHEDULE 13G/A EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Mar 6, 20266-K EDGAR
- Feb 17, 2026SCHEDULE 13G EDGAR
- Feb 9, 20266-K EDGAR
- Jan 28, 2026SCHEDULE 13G EDGAR
- Dec 19, 20256-K EDGAR
The 256 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Anson Funds Management LPSCHEDULE 13G/A, 3 filings Feb 17, 2026 to Aug 14, 202615
- Flawless Management Inc.SCHEDULE 13D/A, 14 filings Dec 13, 2021 to Jun 24, 202616
- Empery Asset Management, LPSCHEDULE 13G/A, 2 filings Jan 28, 2026 to Apr 15, 202617
- WEXFORD CAPITAL LPSCHEDULE 13G/A, 2 filings May 7, 2025 to Sep 29, 202518
- Hudson Bay Capital Management LPSC 13G/A, 2 filings Feb 5, 2024 to Nov 8, 202419
- Arethusa Properties LTDSC 13G, 1 filing Dec 11, 202320
- Galloway Capital Partners, LLCSC 13D/A, 3 filings Aug 31, 2023 to Oct 11, 202321
- CVI Investments, Inc.SC 13G/A, 2 filings Feb 10, 2022 to Feb 14, 202322
- MSD Partners, L.P.SC 13G, 1 filing Feb 14, 202223
- Glendon Capital Management LPSC 13G, 1 filing Feb 11, 202224
- TOWERVIEW LLCSC 13G/A, 2 filings Dec 9, 2021 to Jan 31, 202225
Stakes it holds
Imperial Petroleum Inc./Marshall Islands has told the SEC it owns more than 5% of 1 company, latest first (Schedules 13D and 13G).
SEC filer profile
How Imperial Petroleum Inc./Marshall Islands is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARImperial Petroleum Inc./Marshall Islands1
- CIK0001876581
- Filer statusNon-accelerated filer an emerging growth company; not a shell company5
- Incorporated inRepublic of the Marshall Islands5
- Fiscal year endsDecember 311
- Industry code (SIC)4412 Deep Sea Foreign Transportation of Freight1
- SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
- Business address331 Kifissias Avenue, Erithrea, Athens, Greece1
- Phone011 30 210 625 28491
- Shares outstanding44,648,737 shares as of Dec 31, 20255
- AuditorDeloitte Certified Public Accountants S.A., Athens, Greece PCAOB ID 1163; it also attests to the company’s internal control over financial reporting5
- On EDGAR sinceAug 3, 20211
- Filings272 in all: 424B3 (84), 6-K (62), SC 13D/A (14), SCHEDULE 13D/A (14), EFFECT (12), CORRESP (11), UPLOAD (8), POS AM (6)1
All 29 form types
SC 13G (6), 20-F (5), F-1 (5), 3 (4), DRS (4), DRSLTR (4), F-1/A (4), SCHEDULE 13G/A (4), 424B4 (3), SC 13D (3), SC 13G/A (3), SCHEDULE 13G (3), 4 (2), 424B5 (2), F-1MEF (2), S-8 (2), 424B1 (1), 8-A12B (1), CERT (1), DRS/A (1), F-3 (1)
- Latest filingsAnnual report (20-F) Apr 29, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, par value $0.01 per share | IMPP | NASDAQ |
| 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock | IMPPP | NASDAQ |
From the cover page of the 20-F filed Apr 29, 2026 (Section 12(b) of the Exchange Act).5
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 2Yahoo FinanceIMPP quote
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- 12SEC EDGARGeorgios Xiradakis, Board member
- 13SEC EDGARIoannis Kostogiannis, Board member
- 14NasdaqNasdaq calendar
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