Euroseas Sells its Eldest Bulk Carrier

• Euroseas Ltd. has signed a $6.45 million deal with an unaffiliated third party.
• The deal is regarding the sale of M/V Monica P, built in 1998
• The company would deliver the vessel by June 30, 2018.
• This is a part of the company’s dry bulk fleet renewal program which seeks to refurbish old vessels.
• Another contract has been signed which will build a fuel efficient dry bulk Kamsarmax vessel.

On Wednesday, April 11, Euroseas Ltd. (the “Company” or “Euroseas”),announced the sale of M/V Monica P, a 46,667 dwt vessel, built in 1998, to an unaffiliated third party for the gross amount of $6.45 million. The company which owns and operates dry bulk and container carrier vessels and provides seaborne transportation for dry bulk and containerized cargoes, will deliver the vessel to its buyers by June 30 2018, says the Euroseas Press Release.

Aristides Pittas, Chairman and CEO, of Euroseas commented: “As part of our dry bulk fleet renewal program we have committed to sell our eldest dry bulk 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.”

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Source: Euroseas

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