V Gregos News

Greek shipowner Euroseas announced it has taken delivery of the first in a series of nine new feeder container vessels from South Korea's Hyundai Mipo Dockyard.The 2,800 TEU Gregos was officially handed over during a ceremony on April 6, and following its delivery, the vessel commenced a 36- to 40-month charter with Oman-based Asyad Lines.The time charter equivalent (TCE) rate is $48,000 per day. Aristides Pittas, chairman and CEO of Euroseas, said the ship "is expected to contribute in excess of $42 million of EBITDA (or…

Euroseas Ltd. (NASDAQ: ESEA), 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 fourth quarter of 2009 and year ended December 31, 2009. - Net loss of $16.3 million or $0.53 loss per share basic and diluted on total net revenues of $16.5 million. The results include a $9.0 million loss from the sale of two vessels. Excluding the effect on the losses for the quarter of the loss from the sale of the vessels as well as the effect from the unrealized losses on derivatives and trading securities and the amortization of the fair value of time charter contracts acquired…

OceanFreight Inc., a provider of seaborne transportation services announced today that Michael Gregos was appointed as the Company's Chief Operating Officer. The search for a Chief Financial Officer is still ongoing. Prior to joining OceanFreight in September 2007, Michael Gregos was Project Manager for Dynacom Tankers Management Ltd. which he joined in 2001. Prior to that period, he worked for a shipping concern based in Athens and New York for five years and the Corporate Finance arm of a Greek bank for one year. He is a graduate from Queen Mary University in London and holds an MSc in Shipping, Trade and Finance from City University.

Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk carriers, container ship and multipurpose vessels and provider of seaborne transportation for drybulk and containerized cargoes, signed a Memorandum of Agreement to purchase the M/V Trust Jakarta, a Panamax drybulk vessel of 64,873 dwt built in 1984 in Japan. The M/V Trust Jakarta was acquired for approximately $28.6 million and comes with a period charter attached until July 2008 at a rate of $35,500 per day. The vessel will be delivered to the Company between October 15 and November 15, 2007 at the sellers option and will be renamed M/V Ioanna P. Following the delivery of the M/V Ioanna P.…