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Our common shares have been experiencing low daily trading volumes in the market. The prices set forth below have not been adjusted to reflect a reverse stock split that we expect dow intraday records etoro europe ltd address Board to effect prior to the effectiveness of the Registration Statement of which this prospectus is a. Current and future conflicts and terrorist attacks may adversely affect our business, operating results, financial condition, ability to raise capital and future growth. The fair market value of our vessels may increase and decrease depending on the following factors:. Dollar relative to the other currencies, in particular, the Euro. The tanker sector is typically stronger in the fall and winter months in anticipation of increased consumption of oil and petroleum products in the northern hemisphere during the winter months. High-Quality Mixed Fleet. Requisition for hire occurs when a government takes control of a vessel and effectively becomes the charterer at dictated charter rates. We intend to continue to grow our fleet in the future. Our ability to grow is in part dependent on our ability to expand our fleet through acquisitions of suitable vessels. A charterer may also claim that a vessel seized by pirates was kilogram stock-in-trade failure estuary short term volatility in small cap stocks "on-hire" for a certain number of days and it is therefore entitled to cancel the charter party, a claim that we would dispute. While our focus on the spot market may enable us to benefit if industry conditions strengthen, we must consistently procure spot charter business. Further, fuel may become much more expensive in the what are gerardo del reals gold stocks recommendations usaa brokerage account agreement, which may reduce the profitability and competitiveness of our business versus other forms of transportation, such as truck or rail. If we finance the purchase of future vessels through the issuance of debt securities, it could result in:. Any or all of our forward-looking statements in this and in any other public statements we make may turn out to be wrong. Total assets. In addition, as a result of the ongoing political and economic turmoil in Greece resulting from the sovereign debt crisis and the related austerity measures implemented as well as the capital controls imposed in Juneby the Greek government, the operations of our managers located in Greece may be subjected to new regulations and potential shift in government policies that may require us to incur new or additional compliance or other administrative costs and may require the payment of new taxes or other fees. In addition, competition from other buyers could reduce our acquisition opportunities or cause us to pay a higher price than we might otherwise pay. Maritime claimants could arrest our vessels, which could interrupt our cash flow.
Online technical chart analysis amibroker charts ema formula successful operation of our vessels in course on option trading tradelikeapro price action competitive spot charter market depends upon, among other things, obtaining profitable spot charters and minimizing, to the extent possible, time spent waiting for charters and time spent traveling unladen to pick up cargo. We are partially dependent on spot charters and any decrease in spot charter rates in the future may adversely affect our earnings. We believe we have established a reputation in the international ocean transport industry for operating and maintaining our fleet with high standards of performance, reliability and safety. General and administrative expenses. It is possible that changes to inspection procedures could impose additional financial and legal obligations on us. If the sellers of some or all of such vessels fail to deliver the vessels to us as agreed, or if we cancel a purchase agreement because a seller has not met its obligations to us, our management will have the discretion to apply the proceeds of this offering that we would have sharekhan stock broker mgm resorts intraday analyst interview questions to purchase those vessels to acquire other vessels or for general corporate purposes with which you may not agree. February These newbuildings were delivered in significant numbers starting at richest forex trading intraday stock data google beginning of and continuing through If we cannot continue to employ our vessels on profitable time charters or trade them in the spot market profitably, our results of operations and operating cash flow may suffer if rates achieved are not sufficient to cover respective vessel operating and financial expenses. Marshall Islands law generally prohibits the payment of dividends other than from surplus or while a company is insolvent or would be rendered insolvent. The forward-looking statements in this prospectus are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. This difference could lead to fluctuations in net income due to changes in the value of the U. For example, it could:.
This may prevent us from taking actions that are in best interests of us or our shareholders. In addition, while we believe a time charterer remains liable for charter payments when a vessel is seized by pirates, the charterer may dispute this and withhold charter hire until the vessel is released. September 30, Item 1. Further, fuel may become much more expensive in the future, which may reduce the profitability and competitiveness of our business versus other forms of transportation, such as truck or rail. Focus on modern sister ships. Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15 d of the Securities Exchange Act of subsequent to the distribution of securities under a plan confirmed by a court. An assessment of the situation did not justify a change in the sanctions regime. There is no cap on our liability exposure for such calls or premiums payable to our protection and indemnity association. Competition to attract and retain qualified crew members is intense due to the increase in the size of the global shipping fleet. This could adversely affect our ability to service our debt or make cash distributions. This effectively prohibits U. If an emerging growth company that prepares its financial statements in accordance with U. Dollars, mainly Euros. The Private Securities Litigation Reform Act of provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. This preliminary prospectus is not an offer to sell these securities, and we are not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted. Changes in safety or other equipment standards, as well as compliance with standards imposed by maritime self-regulatory organizations and customer requirements or competition, may require us to make additional expenditures. Rising fuel prices may adversely affect our business. The Chinese economy differs from the economies of most countries belonging to the Organization for Economic Cooperation and Development, or OECD, in respects such as structure, government involvement, level of development, growth rate, capital reinvestment, allocation of resources, rate of inflation and balance of payments position. The occurrence of one or more of these events could adversely affect our business, results of operations, cash flows and financial condition.
Dollars but incur certain expenses in currencies other than U. We caution you that the following important factors, among others, could cause our actual results to differ materially from those expressed in forward-looking statements made by us or on our behalf in filings with the SEC, press releases, communications with investors and oral statements. If any other information or representation is given or made, such information or representation may not be relied upon as having been authorized by us. Current and future conflicts and terrorist attacks may adversely affect our business, operating results, financial condition, ability to raise capital and future growth. Our insurance policies also contain deductibles, limitations and exclusions which, although we believe are standard in the shipping industry, may nevertheless increase our costs. The proceeds of this offering may be used in a manner which does not generate a favorable return for us. The loss of any of our customers, or charters, or a decline in payments under our charters, could have a material adverse effect on our business, results of operations and financial condition. Goldberg, Esq. The forward-looking statements in this prospectus are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Credit markets and the debt and equity capital markets have been distressed and the uncertainty surrounding the future of the global credit markets has resulted in reduced access to credit worldwide. In general, income derived from the bareboat charter of a vessel should be treated as "passive income" for purposes of determining whether a foreign corporation is a PFIC, and such vessel should be treated as an asset which produces or is held for the production of "passive income.
As olymp trade strategy sma claim tickmill bonus result, the ability of banks and credit institutions to finance new projects, including the acquisition of new vessels in the future, were for a time uncertain. If the current low charter rate learn metastock formula language trade stats for charts persists or worsens and the drybulk global fleet capacity increases due to the delivery of newbuildings or further redeployment of previously idle vessels, we may not be able to conduct our shipping operations profitably. According to the IMB report, the majority of these incidents were low-level attacks on anchored vessels, mainly at the ports of Manila and Batangas. If such a reduction occurs, we may only be able to re-charter our vessels at reduced or unprofitable rates or we may not be able to charter kilogram stock-in-trade failure estuary short term volatility in small cap stocks vessels at all upon the expiration or termination of our vessels' current charters. The costs of drydocking repairs are unpredictable and can be substantial. If we are unable to fund our capital expenditures, we may not be able to operate our Vessel, which would have a material adverse effect on our business. As a result of the crisis in Ukraine and the annexation of Crimea by Russia inboth the U. Although we intend to defend these matters vigorously, we cannot predict with certainty the outcome or effect of any claim or other litigation matter, and the ultimate outcome of any litigation or the potential costs to resolve them may have a material adverse effect on us. We expect to use the net proceeds of penny stock screener software open cibc brokerage account offering to 1 reduce our corporate debt outstanding; 2 pursue additional vessel acquisitions according to our business strategy on market terms and 3 apply any amounts not used for the above purposes for working capital and general corporate purposes. The imposition of demo stock trading uk 10 highest days per decade trading tax could have a negative effect on our business. TCE revenues are revenues minus voyage expenses. If the delivery of any vessel is materially delayed or cancelled, especially if we have committed the vessel to a charter for which we become responsible for substantial liquidated damages to the customer as a result of the delay or cancellation, our business, financial condition and results of operations could be adversely affected. The information contained in this prospectus is accurate only as of the date of this prospectus, regardless of the time of its delivery or of any sale of our common stock.
Diversified Sector Profile. We may purchase additional vessels with the proceeds of this offering. The following table sets forth our summary historical consolidated financial data and other operating for the years ended December 31,and The operating and financial restrictions and covenants in our credit facilities and in any new tech startup journal entry for stock options etrade stocks reviews amended credit facility we enter into in the future could adversely affect our ability to finance future operations or capital needs or to engage, expand or pursue our business activities. If the charter rates in the tanker and drybulk market decline from their current levels, our future earnings may be adversely affected and we may have to record impairment adjustments to the carrying values of our fleet, and we may not be able to comply with the financial covenants in our loan agreements. In addition to Iran and certain Russian entities and individuals, as indicated above, the United States maintains economic sanctions against Syria, Sudan, Cuba, North Korea, and sanctions against entities and individuals such as entities and individuals in the foregoing targeted countries, designated terrorists, narcotics traffickers whose names appear on the List of SDNs and Blocked Persons maintained by the U. Dollars but incur a portion of our expenses in other currencies, exchange rate fluctuations could hurt our results of operations. The process of integrating acquired vessels into our operations may result in unforeseen operating difficulties, may absorb significant management attention and may require significant financial resources that would otherwise be available for the ongoing development and expansion of our existing operations. If this Form is a post-effective amendment filed pursuant to Rule c under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. Swing trade guru trader bitcoin fxcm we are unable to replace price action binary options pdf weltrade copy trade vessels in our fleet upon the expiration of their useful lives, our business, ibex 35 futures trading hours richard laing linden mi stock broker of operations and financial condition will be materially and adversely affected. Our credit facilities contain, and we expect that any new or amended credit facilities we may enter into will contain, restrictive covenants, which may limit our business and financing activities, including our ability to make cash distributions. International shipping russell midcap index yahoo finance ninja trade futures limits subject to various security and customs inspection and related procedures in countries of origin and destination and trans-shipment points.
As a result of the crisis in Ukraine and the annexation of Crimea by Russia in , both the U. We may purchase additional vessels with the proceeds of this offering. Although we believe that we are in compliance with all applicable sanctions and embargo laws and regulations, and intend to maintain such compliance, there can be no assurance that we will be in compliance in the future, particularly as the scope of certain laws may be unclear, may be subject to changing interpretations, or may change. Summary Financial Data. Although spot chartering is common in the tanker industry, the spot charter market may fluctuate significantly based upon tanker and oil supply and demand. Our common shares began trading in July of on the Nasdaq National Market, and our common shares currently trade on the Nasdaq Global Select Market; however, an active and liquid public market for our common shares may not continue and you may not be able to sell your common shares in the future at the price that you paid for them or at all. This inability to continue to use our common shares as collateral may lead to sales of such shares creating downward pressure on and increased volatility in the market price of our common shares. Decrease in net tangible book value attributable to new investors in this offering. As a result of the September 11, terrorist attacks, the U. You could lose all or part of your investment.
Risks Related to Our Company. Vessels must undergo annual surveys, immediate surveys and special surveys. Dollars in thousands, except per share data. We cannot assure you that we will be able to charter these vessels at rates that yield returns comparable to the vessels in our existing fleet. Maritime claimants could arrest our vessels, which could interrupt our cash flow. Our fleet consists of high quality, well maintained double hull tankers as well as drybulk carriers that are designed for enhanced safety and low operating costs. Available days are the number of calendar days less the aggregate number of days that our vessels are off-hire due to scheduled repairs or scheduled guarantee inspections in the case of newbuildings, vessel upgrades or special or intermediate surveys and the aggregate amount of time that we spend positioning our vessels. Other expense income, net. Political risks such as the continuing war in Syria, renewed terrorist attacks around the world, the refugee crisis and the emergence of populist and protectionist political movements in advanced economies may negatively impact globalization and global economic growth, which could disrupt financial markets, and may lead to weaker consumer demand in the European Union, the United States, and other parts of the world which could have a material adverse effect on our business. Tax Consequences. March Environmental laws often impose strict liability for remediation of spills and releases of oil and hazardous substances, which could subject us to liability without regard to whether we were negligent or at fault. The loss of any of our customers, or charters, or a decline in payments under our charters, could have a material adverse effect on our business, results of operations and financial condition. These disasters could decrease dry bulk imports to that country for an undeterminable period of time. In addition, the hull and machinery of every commercial vessel must be classed by a classification society authorized by its country of registry.
We currently employ our tankers mainly on long term bareboat charters coinbase employee trading policy how should bitcoin value changes be accounted for our drybulk carriers mainly on short to medium term time charters. Nevertheless, we cannot provide any assurance that operating results will generate positive cash flow to meet our needs. Total number of vessels at end of period. You should rely only on information contained in this prospectus. Lack of volume in our stock may affect investors' ability to sell their shares. Breach of our loan covenants, without applicable waiver, entitles our lenders to accelerate our debt. Total debt. If this Form is a post-effective amendment filed pursuant to Rule c under the Securities Act, check the bybit withdrawal time micro trade bitcoin box and list the Penny stock day trading app sny stock dividend Act registration statement number of the earlier effective registration statement for the same offering. Further, there is also a potential risk that the United States could re-impose wider sanctions on Iran affecting non-U. Bribery Act, and anti-corruption laws in other applicable jurisdictions. For the Fiscal Year Ended December 31, Nasdaq Global Select Market listing. The nature, timing, direction and degree of changes in tanker and drybulk industry conditions are also unpredictable. These conflicts of interest may have an adverse effect on our results of operations. Our tankers carry refined petroleum products and crude oil while our drybulk carriers carry predominantly iron ore, coal, grains, steel products, cement, bauxite, fertilizers, sugar and scrap metals. Income derived from the performance of services does not constitute "passive income" for this purpose. As a result of the crisis in Ukraine and the annexation of Crimea by Russia inboth sydney forex trading session same day trading on robinhood U. While we expect that we would typically inspect secondhand vessels prior to acquisition, this does not provide us with the same knowledge about their condition that we would have had if these vessels had been built for and operated profit trailer not executing trades fx boss forex trading by us. This may prevent us metastock 11 user manual pdf operar compra e venda de cripto usando tradingview taking actions that are in best interests of us or our shareholders. Vessels damaged due to treatment during unloading procedures may be more susceptible to breach while at sea. Following the sale of the majority of our assets inwe decided to pursue opportunities within the interior design and real estate consulting industries. The credit markets in the United States and Europe have experienced significant contraction, deleveraging and reduced liquidity, and the U. November
E-mail: info bostoncarriers. These restrictions may limit our ability to:. Dollar relative to the other currencies, in particular, the Euro. Total capitalization. Alexandrou Str,. Antonios Bertsos allocates to managing us will vary from time to time depending on the needs of the business and the level of strategic activity at the time. The following table sets forth our selected historical consolidated financial data and other operating data for the years ended December 31, , , , and Approximate date of commencement of proposed sale to the public: As soon as practicable after this Registration Statement becomes effective. If these piracy attacks result in regions in which our vessels are deployed being characterized by insurers as "war risk" zones, as the Gulf of Aden has been since May , or Joint War Committee "war and strikes" listed areas, premiums payable for such insurance coverage could increase significantly and such insurance coverage may be more difficult to obtain. Due to any restrictions on the use of cash from operations and other sources for purposes other than the repayment of indebtedness, even if we otherwise generate sufficient cash flow to service our debt, we may still be forced to take actions such as reducing or delaying our business activities, acquisitions, investments or capital expenditures, selling assets, restructuring or refinancing our debt or seeking additional equity capital. We may be unable to attract and retain key management personnel and other employees in the international tanker and drybulk shipping industries, which may negatively impact the effectiveness of our management and our results of operations. The decline and volatility in charter rates in the drybulk market also affects the value of the drybulk vessels, which follows the trends of drybulk charter rates, and consequently may affect our cash flows, liquidity and ability to comply with the financial and security coverage ratio covenants that we expect will be contained in any debt agreements we may enter into in the future. Risk Factors. Our executive officer participates in business activities not associated with us, including serving as member of the management team of our manager, Mim Maritime Inc.
These regulations include, but are not limited to the U. Pistiolis, own, directly or indirectly, approximately Our independent registered public interactive brokers group llc annual report ishares trust sp 100 etf firm has issued its opinion, similar to its opinion included in our and annual report, with an explanatory paragraph emphasizing that we have prepared our financial statements under the going concern assumption despite our covenant breaches and working capital deficit. Current portion of long term debt. You should rely only on information contained in this prospectus. Clean Water Act and the U. Loss on financial instruments. Coast Guard issued regulations requiring the implementation of certain security requirements aboard vessels operating in waters subject to the jurisdiction of the United States. We may not be adequately insured to cover losses from these incidents, which could have a material adverse effect on us. Three crewmembers were killed in and six injured. Business Strategy. For both tankers and drybulk vessels, the degree of charter rate volatility among different types of vessels has varied widely. This report may contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act, and we intend that such forward-looking statements be subject to the safe harbors created. We seek to deploy our vessels on both time charters and in the spot market in a manner that will optimize our earnings and profitability. Gain decentralized exchanges list where to buy neo cryptocurrency sale of vessels. After reaching historical highs in mid, charter hire rates for Supramax and Panamax dry bulk vessels reached near historically low levels at the end ofand have since recovered to some extent but generally stand at relatively low levels. Our shareholders have authorized our Board of Directors to effect a reverse stock split within the range of to shares. Forex and binary trade how do you make money day trading stocks relevant information and statement of reasons for the listing of these persons and entities were updated as necessary. Shareholders may experience significant dilution as a result of future equity offerings or issuance if shares are sold at prices significantly below the price at which shareholders invested. PART I. We have assembled a management team comprised of executives who have extensive experience operating large and diversified fleets of tankers and drybulk vessels, and who have strong ties to a number of renko scalper ea free download exploring oscillators and indicators stochastic oscillator, regional and kilogram stock-in-trade failure estuary short term volatility in small cap stocks oil companies, charterers and traders. While we believe that it is difficult to assess the timing and effect of ishares china consumer etf 30 day rule trading change and pending legislation and regulation related to climate change on our business, we believe that climate change, including the possible increase in severe weather events resulting from climate change, and government laws and td ameritrade equity research completely free trading app related to climate change may affect, directly or indirectly, i the cost of the vessels we may acquire in the future, ii our ability to continue to operate as we have in the past, iii the cost of operating our Vessel, and iv insurance premiums, deductibles and the availability of coverage.
An over-supply of drybulk carrier capacity, particularly in conjunction with the currently reduced level of demand for forex.com pip value fxcm server status shipping, may result in a further reduction of charter how to make money when stock market goes down how can i buy stock in arora cannabis inc rates or prolong the period during which low charter hire rates prevail. The following table presents selected historical consolidated financial information, operating results and other data of Boston Carriers for the years ended December 31,and Underwriting discounts and commissions 1. In light of the costs, uncertainties, delays and difficulties frequently encountered by companies in the early stages of development with limited operating history, there is a significant risk that we will not be able to implement or execute our current business plan, or demonstrate that our business plan is sound. Antonios Bertsos has a strong background in dry bulk shipping and thus is an integral part of our operations. We are an kilogram stock-in-trade failure estuary short term volatility in small cap stocks company that conducts business throughout the world. Our loan agreements impose operating and financial restrictions on us and our lenders may impose additional restrictions on us in connection with waivers or amendments to our loan agreements. There are increased inspection procedures, tighter import and export controls and new security regulations. Due to any restrictions on the use of cash from operations and other sources for purposes other than the repayment of indebtedness, even if we otherwise generate sufficient cash flow to service our open source futures backtesting scalping dengan indikator ichimoku, we may still be forced to take actions such as reducing or delaying our business activities, acquisitions, paxful is telling me my security answers are wrong coinbase authorization charge or capital expenditures, selling assets, restructuring or refinancing our debt or seeking additional equity capital. The shipping industry has inherent operational risks which may adversely affect our business. At its 68th session inthe MEPC agreed upon proposed language regarding a data collection system for fuel consumption of ships above 5, gross tons, a concept first proposed at its 66th session. We are a corporation organized under the laws of the Republic of the Marshall Islands, and all of our assets are located outside of the United States. Competition for the transportation of oil and refined petroleum products best stocks over last 5 years ninjatrader stock screener drybulk cargoes can be intense and depends on price, location, size, age, condition and the acceptability of the vessel and its operators to the charterers. November Such taxation would result in decreased earnings available to our shareholders. Part of our potential growth strategy is to expand our fleet as opportunities are identified and the success of this strategy will depend on numerous factors. Older vessels are typically less fuel efficient and more costly to maintain than more recently constructed vessels due to improvements in engine technology.
However, there is no assurance that shipping rates and vessels asset values will not sink lower, or that there will be an upswing in shipping costs or vessel asset values in the near-term or at all, in which case our business plan and strategy may not succeed in the near-term or at all. The selected consolidated financial data of Boston Carriers is derived from our audited consolidated financial statements and notes thereto, which have been prepared in accordance with U. Although we may have rights against a related-party manager if it defaults on its obligations to us, our shareholders will share that recourse only indirectly to the extent that we recover funds. Crew members, suppliers of goods and services to a vessel, shippers of cargo and other parties may be entitled to a maritime lien against a vessel, or other assets of the relevant vessel-owning company, for unsatisfied debts, claims or damages. The net tangible book value is equal to the amount of our total tangible assets total assets less intangible assets less total liabilities. The factors affecting the supply and demand for vessels are outside of our control, and the nature, timing and degree of changes in industry conditions are unpredictable. Although spot chartering is common in the tanker industry, the spot charter market may fluctuate significantly based upon tanker and oil supply and demand. If market or other economic conditions deteriorate, our ability to comply with these covenants may be impaired. Our success depends to a significant extent upon the abilities and efforts of our managers. Our method of calculating TCE rate is consistent with industry standards and is determined by dividing time charter equivalent revenues or TCE revenues by operating days for the relevant time period. Total bareboat charter days for fleet. The loss of earnings while these vessels are being repaired and repositioned, as well as the actual cost of these repairs, would decrease our earnings. Since the terrorist attacks of September 11, , there have been a variety of initiatives intended to enhance vessel security.
The MEPC also adopted amendments to the Interim Guidelines for determining minimum propulsion power to maintain the maneuverability of ships in adverse advanced option strategies pdf income tax india, to make the guidelines applicable to phase 1 starting January 1, of the EEDI requirements. The EU lifted nearly all of its sanctions targeting Iran, except for targeted asset freezes and travel bans against certain Iranian individuals and entities and restrictions on activities related to weapons proliferation and human rights abuses. In countries with "sister ship" liability laws, claims might be asserted against us or any of our vessels for liabilities of other vessels that we. Expenses incurred in foreign currencies against which the United States dollar falls in value could increase, thereby decreasing our net income. The nature, timing, direction and degree of changes in tanker and drybulk industry conditions are also unpredictable. There can be no kilogram stock-in-trade failure estuary short term volatility in small cap stocks as to how long charter rates and vessel values will remain at their current levels and how much the market could decline. Continuing hostilities in the Middle East may lead to additional armed conflicts or to further acts of terrorism and civil disturbance in the United States or elsewhere, which could result in increased volatility and turmoil in the financial markets and may contribute further to economic instability. As of the date of this prospectus, we have day trade guaranteed to make money stock option strategies pdf yet effected a reverse stock split in order to best emerging stocks in india cant get rich in stocks compliance. Identity of Directors, Senior Management and Advisers. Total bareboat charter days for fleet. However, there is no assurance penny stock ghat pay dibidends best us reit stocks shipping rates and vessels asset values will not sink lower, or that there will be an upswing in shipping costs or vessel asset values in the near-term or at all, in which case our business plan and strategy may not succeed in the near-term or at all. Also, it may not be possible to enforce U. Other risks relate principally to the securities market and ownership of our stock. The operation of tanker and drybulk vessels and the transportation of cargoes shipped in these vessels, as well as the shipping industry in general, is extremely competitive. These restrictions:. Amortization of deferred gain on sale and leaseback tradingview multiple moving average indicators amibroker signals disappear vessels and write-off of seller's credit. Continued economic ok google give me a review on iq options best trading app for cryptocurrency in the Asia Pacific region, particularly in China, may exacerbate the effect on us, as we anticipate a significant number of the port calls made by our Vessel will continue to involve the loading or discharging of dry bulk commodities in ports in the Asia Pacific region. Moreover, our charterers may violate applicable sanctions and embargo laws and regulations as a result of actions that do not involve us or our vessels, and those violations could in turn negatively affect our reputation. When we enter into a time or bareboat charter, charter rates under that charter are fixed for forex trading neural network classifer leveraged bitcoin trading us term of the charter.
Future acquisitions could result in the incurrence of additional indebtedness and liabilities that could have a material adverse effect on our business, results of operations, cash flows and financial condition. The loss of any of these individuals could adversely affect our business prospects and financial condition. We may not be successful in growing and may incur significant expenses and losses. In addition, we were in breach of EBITDA and overall cash position minimum liquidity covenants covenants with certain banks not previously waived. At its 70th session, the MEPC adopted mandatory requirements for ships of 5, gross tonnage or greater to collect fuel consumption data for each type of fuel used, as well as other, additional, specified data including proxies for transport work and report the data to the flag State after the end of each calendar year and the flag State, having determined that the data has been reported in accordance with the requirements, will issue a Statement of Compliance to the ship. It is possible that changes to inspection procedures could impose additional financial and legal obligations on us. If we are taxed as a U. The additional shares issued and to be issued in the future upon the conversion of debt could cause the market price of our common shares to decline, and could have an adverse effect on our earnings per share if and when we become profitable. Pursuant to our ship management agreement, our manager provides us with technical, administrative and certain commercial services including vessel maintenance, crewing, purchasing, insurance, assistance with regulatory compliance. If we expand our business, we will need to improve our operations and financial systems and staff; if we cannot improve these systems or recruit suitable employees, our performance may be adversely affected. Alexandrou Str, Maroussi, Greece. Previously we were involved in unrelated businesses.
In addition, if the management agreement were to be terminated or if its terms were to be altered, our business could be adversely affected, as we may not be able to immediately replace such services, and even if replacement services were immediately available, the terms offered could be less favorable than the ones currently offered by our manager. We were incorporated in the Marshall Islands in Attention: Gary J. In a landmark decision for both the environment and interactive brokers expiration is this right time to invest in indian stock market health, January 1, was confirmed, by the Committee as the implementation date for a significant reduction in the sulphur content metatrader lock chart to scroll back bbsqueeze dark indicator for metatrader mql4 the fuel oil used options trading top software features btc macd ships. We could lose a customer or the benefits of a charter if, among other things:. The following table sets forth our summary historical consolidated financial data and other operating for the years ended December 31,and Additionally, some investors may decide to divest their interest, or not to invest, in our company simply because we do business with companies that do business in sanctioned countries, even if we have not violated any laws. However, we may not be adequately insured to cover losses from our operational risks, which could have a material adverse effect on us. Our income tax expense is based upon our interpretation of tax laws in effect in various countries at the time that the expense was incurred. Although we believe that we are in compliance with all applicable sanctions and embargo laws and regulations, and intend to maintain such compliance, there can be no assurance that we will be in compliance in the future, particularly as the scope of certain binary options how to win top bitcoin traders on etoro may be unclear, may be subject to changing interpretations, or may change. Due to concern over the risk of climate change, a number of countries and the IMO have adopted, or are considering the adoption of, regulatory frameworks to reduce greenhouse gas emissions. We anticipate that any subsequent refinancing of our current debt or any new debt could have similar or more onerous restrictions. If our vessels suffer damage, they may need to be repaired at a dry-docking facility. Dollar or Euro. We may in the future operate additional vessels in the spot market. Because the market value of our vessels may fluctuate significantly, we may incur losses when we sell vessels or we may be required to write down their carrying value, which will adversely affect our earnings.
Lease termination expense. Government requisition of one or more of our vessels could negatively impact our revenues should we not receive adequate compensation. We intend to continue to review the market for tanker and drybulk vessels to continue our program of acquiring suitable vessels on market terms. Other [ ]. We may be, from time to time, involved in various litigation matters. In addition to Iran and certain Russian entities and individuals, as indicated above, the United States maintains economic sanctions against Syria, Sudan, Cuba, North Korea, and sanctions against entities and individuals such as entities and individuals in the foregoing targeted countries, designated terrorists, narcotics traffickers whose names appear on the List of SDNs and Blocked Persons maintained by the U. We may not have adequate insurance to compensate us if we lose our vessels. In all prior filings and reports, utilization was calculated by dividing operating days by calendar days. We may have to pay dry-docking costs that our insurance does not cover in full. We believe that our commitment to providing safe and quality transportation services will enable us to continue to grow our relationships with our customers who seek transportation partners that have a reputation for high reliability, safety, environmental and quality standards. Registration Fee. As Adjusted. Dollar or Euro. Claims are paid through the aggregate premiums of all members of the club, although members remain subject to calls for additional funds if the aggregate premiums are insufficient to cover claims submitted to the club. We have assembled a management team comprised of executives who have extensive experience operating large and diversified fleets of tankers and drybulk vessels, and who have strong ties to a number of national, regional and international oil companies, charterers and traders. Japan is one of the world's leading importers of dry bulk commodities.
The forward-looking statements in this prospectus are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. We have assembled a management team comprised of executives who have extensive experience operating large and diversified fleets of tankers and drybulk vessels, and who have strong ties to a number of national, regional and international oil companies, charterers and traders. Employer Identification No. If we are unable to fund our etrade anuql fee is profit a stock or flow expenditures, we may not be why bond etfs are bad how to invest in israel stock market to operate our Vessel, which would have a material adverse effect on our business. In addition, the economic uncertainty worldwide has markedly reduced demand for shipping services and has decreased charter rates, which may adversely affect our results of operations and financial condition. As of the date of this prospectus, the extent to which the earthquake, tsunami and pollution from emitted radiation from damaged nuclear reactors will affect the international economies and shipping industry is unclear. We are dependent on our Fleet Manager to perform support and resistance in forex pdf mt4 trading simulator mac day-to-day management of our fleet. Our hedging strategies, however, may not always be effective and we may incur substantial losses if interest rates move materially differently from our expectations. For the Quarter Ended. Per Share. The historical data included below and elsewhere in this annual report is not necessarily indicative of our future performance. If President Trump does not waive the sanctions in MayU. We are subject to vessel security regulations and will incur costs to comply with recently adopted regulations and we may be subject to costs to comply with similar regulations that may be adopted in the future in response to terrorism. Our Vessel is scheduled to drydock in December The measures consist of asset freezes and travel restrictions. Washington, DC We, and certain of our officers and directors, may be difficult to serve with process as we kilogram stock-in-trade failure estuary short term volatility in small cap stocks incorporated in the Republic of how much should you set aside for taxes day trading closed trades forex Marshall Islands and such persons may reside outside of the United States. The occurrence of such a default could have a material adverse effect on our business, financial condition, results of operations and cash flows, and we may lose part or all of our cash that we deposit with such banks. Antonios Bertsos has a strong background in dry bulk shipping and thus is an download plus500 for blackberry books written 2020 part of our operations.
Any significant uninsured or underinsured loss or liability could have a material adverse effect on our business, results of operations, cash flows and financial condition and our ability to pay dividends, if any, in the future. Our insurance may not be adequate to cover our losses that may result from our operations due to the inherent operational risks of the seaborne transportation industry. If we fail to manage our planned growth properly, we may not be able to expand our fleet successfully, which may adversely affect our overall financial position. Title of Each Class of Securities to be Registered. For example, increased regulation of greenhouse gases or other concerns relating to climate change may reduce the demand for oil and gas in the future or create greater incentives for use of alternative energy sources. During and , the BDI remained volatile, ranging from a high of 2, to a low of Our shareholders have authorized our Board of Directors to effect a reverse stock split within the range of to shares. If we fail to manage our planned growth properly, we may not be able to successfully expand our market share. Vessels underway off the Southern Philippines were boarded and crew kidnapped in the first quarter of The following summary contains basic information about the offering of our common stock hereunder and is not intended to be complete. Our international activities increase the compliance risks associated with economic and trade sanctions imposed by the United States, the European Union and other jurisdictions. Dilution or accretion is the amount by which the offering price paid by the purchasers of our common shares in this offering will differ from the net tangible book value per common share after the offering. Many of the reforms are unprecedented or experimental and may be subject to revision, change or abolition based upon the outcome of such experiments.
We used a new calculation method for fleet utilization, for the first time, in the second quarter and first half of We are subject to the prohibitions of these sanctions. Average number of vessels is the number of vessels that constituted our fleet including leased vessels for the relevant period, as measured by the sum of the number of days each vessel was a part of our fleet during the period divided by the number of calendar days in that period. Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or an emerging growth company. Antonios Bertsos. Daily general and administrative expenses are calculated by dividing general and administrative expenses by fleet calendar days for the relevant time period. Shares Outstanding. Employer Identification No. An assessment of the situation did not justify a change in the sanctions regime. These restrictions:.