United Maritime, a spin-off of New York-listed Seanergy Maritime Holdings, expects to announce its first bulker purchase next week.

The move emerges just 10 days after Stamatis Tsantanis-led Seanergy announced it would spin off the new company along with its oldest vessel, the 171,000-dwt Gloriuship (built 2004).

United Maritime’s shares will start trading on New York’s Nasdaq Capital Market on 28 June under the ticker symbol USEA.