Euroseas Sells its Eldest Bulk Carrier Vessel

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Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerised cargoes, announced today the sale of M/V Monica P, a 46,667 dwt vessel, built in 1998, to unaffiliated third party for the gross amount of USD 6.45 million. The vessel will be delivered to its buyers by June 30 2018.

Aristides Pittas, Chairman and CEO, of Euroseas commented, “As part of our drybulk fleet renewal program we have committed to sell our eldest drybulk vessel, the 20 years old m/v Monica P, which will soon be replaced by our Kamsarmax new building m/v Ekaterini expected to be delivered within May 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. The Company has also signed a contract for the construction of one Kamsarmax (82,000 dwt) fuel efficient drybulk carrier. Including the new-building, the total cargo capacity of the Company’s drybulk vessels will be 499,753 dwt.

Sea News, April 12