V Honor River News

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. The M/V Jonathan P and the Despina P were each acquired for $18.7m. Both vessels have been fixed on short term charters until October 2007 at a rate of about $17,000 per day. Following these charter agreements…

Euroseas Ltd. an owner and operator of drybulk carriers, container ship and multipurpose vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced that it has entered into memoranda of agreement to purchase the M/V Honor River and the M/V Beauty River, two Handysize container ships, each with a capacity of 33,667 dwt and 1,932 teu. The vessels are sister ships built in 1990 in South Korea and are similar in terms of capacity to the M/V Artemis. The M/V Honor River and the M/V Beauty River will each be acquired for $18.7 million and are expected to be delivered to Euroseas in August and September 2007, respectively.