The EuroDry fleet now has 10 ships

With another second hand ship, Aristides Pittas’ EuroDry strengthened its fleet, seeking to take advantage of the positive momentum of the bulk dry freight market.

EuroDry acquired the “M / V Molyvos Luck”, a 57,924 dwt bulk cargo ship built in 2014, valued at $ 21.2 million. The ship was majority owned by an unrelated third party and is operated by Eurobulk Ltd., which also manages the majority of EuroDry vessels.

The “M / V Molyvos Luck” is expected to be delivered to the company at the end of January 2022, while it should be noted that it is accompanied by a charter with a daily fare of 13,250 dollars / day until April 2022.

The acquisition will be financed initially from the Company’s own funds and then from a bank loan. Aristides Pittas, President and CEO of EuroDry commented, among other things, that the acquisition of M / V Molyvos Luck, a Supramax, drybulk carrier built in 2014, further expands our modern fleet at a time when fundamental size strongly supports the continuation a strong freight market as the pandemic may subside, and fleet growth will be limited as evidenced by the historically low levels of the order book.

M / V Molyvos Luck will make a significant contribution to EuroDry’s net income and EBITDA. Following the delivery of the Molyvos Luck, the EuroDry fleet will consist of 10 vessels.