Handymax Drybulk Carrier News

Greece-based Euroseas announced the sale of M/V Monica P, a 46,667 dwt vessel, built in 1998, to unaffiliated third party for the gross amount of $6.45 million. The owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes said that the vessel will be delivered to its buyers by June 30 2018. The Company has a fleet of 17 vessels, including 3 Panamax drybulk carriers, 1 Handymax drybulk carrier, 1 Kamsarmax drybulk carrier, 1 Ultramax drybulk carrier, 10 Feeder containerships and an intermediate containership. Euroseas 6 drybulk carriers have a total cargo capacity of 417,753 dwt, its 11 containerships have a cargo capacity of 25,473 teu.

Euroseas announced that it signed a memorandum of agreement to purchase the M/V EM Astoria, a feeder size containership vessel of 2,788 teu built in 2004. The vessel is to be acquired at market price from Euromar LLC, the Company's joint venture with two private equity firms. The agreement to acquire the vessel includes 100% bank financing and a profit share agreed with the bank. The vessel is expected to be delivered to the Company in June 2017. Aristides Pittas, Chairman and CEO of Euroseas commented: "We are very pleased to proceed with the acquisition of EM Astoria which increases our fleet in the containership feeder sector and is accretive to our shareholders.

Euroseas Ltd, an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today that it took delivery of the previously announced acquisition of the newbuilding. The newbuilding Hull DY 160, to be renamed Alexandros P, is a 63,500 dwt Ultramax dry bulk carrier built in January 2017. Aristides Pittas, Chairman and CEO of Euroseas commented: "We are very pleased to complete the acquisition of Alexandros P, an Ultramax drybulk carrier the construction of which we have supervised over the last two years. The Company has a fleet of 14 vessels, including one Kamsarmax drybulk carrier…

Euroseas Ltd, a Greece-based shipping company, took delivery of its newbuilding Kamsarmax dry bulk carrier Xenia and entered into a two-year time charter for its container carrier Evridiki G. The M/V Xenia was delivered from the China-based Jiangsu Yangzijiang Shipbuilding Co. on February 26. Xenia is an “eco” design Kamsarmax fuel efficient bulker with a carrying capacity of 82,000 dwt. Xenia is an "eco" design Kamsarmax fuel efficient drybulk carrier with a carrying capacity of 82,000 dwt. The M/V Xenia has commenced a time charter contract until January 2020 at a gross daily rate of $14,100 with a charterer's option to extend the charter for one additional year at a gross daily rate of $14,350.

Greek-based Euroseas Ltd., drybulk and container ship owners and operators, publish their Q4 & full year 2012 financial results. Net loss of $13.2 million or $0.34 net loss per share basic and diluted on total net revenues of $52.5 million. Adjusted net loss1 for the period would have been $4.0 million or $0.10 net loss per share basic and diluted. Adjusted EBITDA1 was $14.9 million. An average of 15.21 vessels were owned and operated during the twelve months of 2012 earning an average time charter equivalent rate of $10,155 per day. Aristides Pittas, Chairman and CEO of Euroseas commented: "Containership and drybulk markets remained depressed during the fourth quarter of 2012 and year-to-date 2013 due to slow demand growth and abundant vessel supply.

DryShips Inc. announced t that it has taken delivery of m.v. Hille Oldendorff a 2005 built, 55,566 deadweight ton, or dwt, handymax drybulk carrier which it acquired recently. m.v. Hille Oldendorff comes with a bareboat charter at $19,745 per day, net of commissions, until March 2007.

DryShips Inc. has taken delivery of m.v. Hille Oldendorff a 2005 built, 55,566 deadweight ton, or dwt, handymax drybulk carrier which it acquired recently. m.v. "Hille Oldendorff" comes with a bareboat charter at $19,745 per day, net of commissions, until March 2007.