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Euroseas Ltd

Euroseas Ltd. Takes Delivery of 14th Vessel

Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk carriers and container ships and provider of seaborne transportation for drybulk and containerized cargoes, announced that it has taken delivery of the M/V Tiger Bridge, an intermediate container ship of 30,400 dwt and 2,228 twenty-foot equivalent units (teu) built in 1990 in Korea. The vessel was acquired for approximately $24m and comes with a period charter attached until July 2009 at a rate of $16,500 per day. Following the delivery of M/V Tiger Bridge and of the contracted to be acquired, M/V Ioanna P, approximately 79% of Euroseas total fleet days in the fourth quarter of 2007 and approximately 45% in 2008 will be fixed under period charters, already concluded spot charters, or, otherwise protected from market fluctuations.


Euroseas Time Charter Renewals for Two Containerships

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Euroseas Ltd., (NASDAQ:ESEA) an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerized cargoes, announced today that two subsidiaries of the Company has entered into time charter agreement for the following vessels: M/V Ninos, a 1,169 teu, 1990 built feeder containership, has been extended for about 1 year at a gross daily rate of $11,200. The new rate will apply from the 1st of June 2011


Euroseas Ltd. Takes Delivery of 15th Vessel

Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk carriers and container ships and provider of seaborne transportation for drybulk and containerized cargoes, announced that it has taken delivery of the M/V Trust Jakarta, to be renamed Ioanna P, a Panamax drybulk vessel of 64,873 dwt built in 1984 in Japan. The vessel was acquired for approximately $28.6m and was delivered with a time charter attached until July 2008 at a rate of $35,500 per day


Euroseas Announces Pricing of Public Offering

Euroseas Ltd., announced that its public offering of 5,000,000 shares of common stock was priced at $13.50 per share. Euroseas has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock to cover over-allotments, if any. The company intends to use the net proceeds of the offering to acquire additional vessels in the sectors in which it currently operates and for general corporate purposes.


Euroseas to Purchase Containership

Euroseas Ltd., an owner and operator of drybulk carriers, container ship and multipurpose vessels and provider of seaborne transportation for dry bulk and containerized cargoes, has signed a Memorandum of Agreement to purchase the M/V Clan Gladiator, a Handysize container ship of 30,007 dwt and 1,742 teu built in 1992 in Germany for $25.7m. The vessel is scheduled to be delivered to Euroseas around June 11, 2007, at the sellers' option. It will be financed partly by bank debt


Euroseas Takes Delivery of Container Ships

Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, has taken delivery of the M/V Beauty River to be re-named Despina P and the M/V Honor River to be re-named Jonathan P, two handysize container ships it had previously agreed to acquire, each with a capacity of 33,667 dwt and 1,932 teu. The vessels are sister ships built in 1990 in South Korea.


Euroseas Reports Results for the 1Q

Euroseas Ltd. , an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced its results for the First Quarter ended March 31, 2007. For the first quarter of 2007, the Company reported total net revenues of $13.5 million and net income of $9.5 million representing a 45% and 177% increase, respectively, over total net revenues of $9.3 million and net income of $3


Keppel Unit Wins Contracts Worth $155.6m

Keppel Corp. said Keppel Singmarine Pte Ltd. has won two shipbuilding contracts worth $155.6m, Thompson Financial reported. Keppel Singmarine will build a derrick pipelay vessel for Global Offshore International Ltd, a unit of U.S.-listed Global Industries Ltd. In a separate deal, Keppel Singmarine will construct a 100-metre Rolls-Royce designed UT 788 CDL ultra-deepwater multi-functional support vessel For Lewek Shipping Pte Ltd., a unit of Singapore-listed Ezra Holdings Ltd.


Industry Leaders Elected To ABS Membership

Sixty-Nine prominent shipping industry executives have been elected as new members of ABS. In addition, Rear Admiral David L. Brewer III, Commander, Military Sealift Command, U.S. Navy, was appointed as a member. This brings the ABS worldwide membership to 803. The members, each eminent in their maritime field of endeavor, provide broad governance and oversight of ABS. Members are drawn from various sectors of the marine, offshore and related industries worldwide. The new members are:


China Shipyards Deliver Tender Rig, Bulk Carrier

China Guandog Shipyard: Image credit COSCO

COSCO Corporation (Singapore) Limited informs of the delivery of two new vessels from shipbuilding yards in China. 1. COSCO (Nantong) Shipyard Co., Ltd , a subsidiary of the Company's 51% owned COSCO Shipyard Group Co., Ltd, has delivered a tender rig,"T-18", to Seadrill. 2. COSCO (Guangdong) Shipyard Co. Ltd a subsidiary of the Company's 51% owned COSCO Shipyard Group Co. Ltd, has delivered a bulk carrier of 35,300 DWT, "FUAT BEY", to its Asian buyer.


China Shipyards Win US$100-Million OSV Contracts

OSVs in port: File photo

COSCO Corporation (Singapore) Limited says that its subsidiary Dalian and Guandong shipyards in China have won the following offshore vessel construction contracts: 1. COSCO (Dalian) Shipyard Co., Ltd., has secured a contract from an Asian company to build four Emergency Response / Rescue / Field


Offshore firm's IPO may give Singapore market shot in the arm

This would be only the second mainboard IPO in Singapore this year. Singapore's IPO market lacklustre in recent years, but oil and gas related offerings find favour in Singapore. A major operator of maritime support vessels controlled by Malaysia's richest man is seeking up to $380 million in a


POSH attracts Hwang, Fortress as IPO investors

PACC Offshore Services Holdings (POSH), part of the empire of Malaysia's richest man Robert Kuok, has roped in Hwang Investment Management Berhad and Fortress Capital Asset Management as cornerstone investors for its Singapore listing, which sources close to the matter said could raise about $400


Euroseas Orders Two Drybulk Newbuilds

Euroseas signs new building agreements for the acquisition of two fuel efficient kamsarmax drybulk carriers and announces new acquisition for its joint venture Euromar. Euroseas Ltd., a Greek owner and operator of drybulk carriers and container vessels and provider of seaborne transportation


Robert Allan Sign Tugboat Design Contracts in Netherlands

Contract signing: Photo Robert Allan

Robert Allan Ltd informs of the signing of two contracts during a recent Canadian Trade Mission to the Kingdom of the Netherlands. Details of the contracts are as follows: Contract for ART 80-32 The first signing covered the new ART 80-32, designed by Robert Allan Ltd


MRM Facilitator Training Concludes in Manila

Photo: ALL Academy

A successful Maritime Resource Management (MRM) Facilitator training event concluded today in Makati City, Manila, Philippines as 22 participants from China, Germany, Indonesia, Philippines and Singapore had gathered for the two-day event held at the European Training & Competence Center


Manage Crew from the Cloud

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With cloud computing technology having an increasing impact on daily life, its no surprise that more and more companies are turning to the cloud and the superyacht industry is no different. i-Bos Ltd, a crew management software provider is one of the first companies to launch their software to


Dan-Bunkering Trader Transfers to Singapore

Maria Eliseeva

Dan-Bunkering (Singapore) Pte. Ltd. is pleased to announce that as of March 1, 2014, Maria Eliseeva transferred from A/S Dan-Bunkering Ltd. Kaliningrad Rep. Office to Dan-Bunkering (Singapore) Pte. Ltd. Maria Eliseeva will strengthen a team of 17 dedicated international colleagues at


Euroseas Report Adverse Financial Winds in Year 2013

Image courtesy of Euroseas

Greece-based container ship & drybulk ship owners and operators Euroseas have released its results for the three month period and full year ended December 31, 2013, with the following highlights: Full year 2013 Net loss of $103.4 million, or, $2


Change of Technical Manager at Nordic

Nordic Shipholding A/S has appointed Thome Ship Management Pte Ltd and Columbia Shipmanagement (Singapore) Pte Ltd as new technical managers of its vessels replacing TB Marine Shipmanagement GmbH & Co. KG. The change in technical manager involves one-off costs.  


Two RA-designed Tugs for PSA Marine

Rubicon (Photo: Robert Allan)

PSA Marine of Singapore, one of the largest harbor tug owners and operators in Asia, took delivery of the RAmparts3200 class tugs Rubicon and Righteousfrom Cheoy Lee Shipyards, Hong Kong and Yuexin Ocean Engineering Co. Ltd., Guangzhou, PR China respectively.


Euroseas to Sell $29 Million in Shares

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  Euroseas Ltd. has announced  that it entered into an agreement to sell 25,000 shares of its Series B Convertible Perpetual Preferred Shares to a fund managed by Tennenbaum Capital Partners, LLC (TCP) and 5,700 shares to Preferred Friends Investment Company Inc


Two Bunker Suppliers' Licenses Revoked

The Maritime and Port Authority of Singapore (MPA) cancelled the bunker supplier licenses of Excel Petroleum Enterprise Pte. Ltd. and Lian Hoe Leong & Brothers Pte. Ltd. with effect from January 15, 2014 for contravening the terms and conditions of the bunkering licenses.


Go Marine Group Sells 7 Offshore Support Vessels

Go Marine OSV: Photo courtesy of the owners

Singapore's Otto Marine Ltd. says that its 90% owned subsidiary, Go Marine Group Pty Ltd. has entered into a Memorandum of Agreement to sell the 7 vessels concerned to RSOV Marine Pte Ltd for an aggregate sum of US$10 million. The vessels are named: GO 4 IT, GO Puriya, GO Shaula, Piparn, Yikara


Epic Gas Continues Fleet Expansion, to Open London Office

Image courtesy of Epic Gas

Singapore-based Epic Gas Ltd. say that following their recent order of two LPG 11,000cbm vessels from Kyokuyo Shipyard Corporation in Japan, it will add two more similar-sized newbuilds to its expanding fleet. These two 11,000 cbm vessels will be long term bareboat chartered in from Kumiai


 
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