{"id":886291,"date":"2025-09-15T11:37:56","date_gmt":"2025-09-15T15:37:56","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/eurodry-ltd-announces-agreement-to-sell-m-v-eirini-p-a-2004-built-panamax-bulk-carrier\/"},"modified":"2025-09-15T11:37:56","modified_gmt":"2025-09-15T15:37:56","slug":"eurodry-ltd-announces-agreement-to-sell-m-v-eirini-p-a-2004-built-panamax-bulk-carrier","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/eurodry-ltd-announces-agreement-to-sell-m-v-eirini-p-a-2004-built-panamax-bulk-carrier\/","title":{"rendered":"EuroDry Ltd. Announces Agreement to Sell M\/V Eirini P, a 2004-built Panamax Bulk Carrier"},"content":{"rendered":"
\n

ATHENS, Greece, Sept. 15, 2025 (GLOBE NEWSWIRE) — EuroDry Ltd. (NASDAQ: EDRY, the \u201cCompany\u201d or \u201cEuroDry\u201d), an owner and operator of drybulk vessels and provider of seaborne transportation for drybulk cargoes, announced today that it has signed an agreement to sell M\/V Eirini P., a 76,466 dwt drybulk vessel, built in 2004, to an unaffiliated third party, for approximately $8.5 million. The vessel is expected to be delivered to its buyers in October 2025.<\/p>\n

\n Aristides Pittas, Chairman and CEO of EuroDry, commented<\/strong>
\n : <\/strong>\u201cWe are pleased to announce the agreement to sell M\/V Eirini P., one of the three older vessels and the longest-held in our current fleet, for $8.5 million as part of our fleet renewal program. As a result of this sale, we expect to generate a gain of approximately $0.6 million, or about $0.21 per share. The net proceeds will strengthen our balance sheet position and increase our near-term liquidity, providing us with more flexibility to pursue the renewal of our fleet with more modern, fuel efficient and environmentally friendly vessels.\u201d<\/p>\n

The EuroDry Ltd. fleet profile, after the sale of M\/V Eirini P., is as follows:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Name <\/strong>\n <\/td>\n\n Type<\/strong>\n <\/td>\n\n Dwt<\/strong>\n <\/td>\n\n Year Built<\/strong>\n <\/td>\n\n Employment (*)<\/strong>\n <\/td>\n\n TCE\u00a0Rate ($\/day)<\/strong>\n <\/td>\n<\/tr>\n
\n
\n Dry Bulk Vessels<\/u>
\n <\/strong>\n <\/td>\n		\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
EKATERINI<\/td>\nKamsarmax<\/td>\n82,006<\/td>\n2018<\/td>\nTC until Oct-25<\/td>\n$17,000 plus a GBB(****) of $700,000<\/td>\n<\/tr>\n
XENIA<\/td>\nKamsarmax<\/td>\n82,019<\/td>\n2016<\/td>\nTC until Sep-25<\/td>\n$17,250 plus a GBB(****) of $725,000<\/td>\n<\/tr>\n
ALEXANDROS P.<\/td>\nUltramax<\/td>\n63,127<\/td>\n2017<\/td>\nTC until Oct-25<\/td>\n$12,700<\/td>\n<\/tr>\n
CHRISTOS K (***)<\/td>\nUltramax<\/td>\n63,197<\/td>\n2015<\/td>\nTC until Sep-25<\/td>\n$11,500<\/td>\n<\/tr>\n
YANNIS PITTAS<\/td>\nUltramax<\/td>\n63,243<\/td>\n2014<\/td>\nTC until Oct-25<\/td>\nHire 115% of the Average Baltic Supramax S10TC index (**)<\/td>\n<\/tr>\n
MARIA (***)<\/td>\nUltramax<\/td>\n63,153<\/td>\n2015<\/td>\nTC until Mar-26<\/td>\nHire 115% of the Average Baltic Supramax S10TC index (**)<\/td>\n<\/tr>\n
GOOD HEART<\/td>\nUltramax<\/td>\n62,996<\/td>\n2014<\/td>\nTC until Mar-26<\/td>\nHire 115% of the Average Baltic Supramax S10TC index (**)<\/td>\n<\/tr>\n
MOLYVOS LUCK<\/td>\nSupramax<\/td>\n57,924<\/td>\n2014<\/td>\nTC until May-26<\/td>\nHire 101% of the Average Baltic Supramax S10TC index (**)<\/td>\n<\/tr>\n
SANTA CRUZ (******)<\/td>\nPanamax<\/td>\n76,440<\/td>\n2005<\/td>\nTC until Dec-25<\/td>\n$13,500<\/td>\n<\/tr>\n
STARLIGHT (*****)<\/td>\nPanamax<\/td>\n75,611<\/td>\n2004<\/td>\nTC until Dec-25<\/td>\n$12,500<\/td>\n<\/tr>\n
BLESSED LUCK<\/td>\nPanamax<\/td>\n76,704<\/td>\n2004<\/td>\nTC until Oct-25<\/td>\n$11,500<\/td>\n<\/tr>\n
\n Total Dry Bulk Vessels<\/strong>\n <\/td>\n\n 11<\/strong>\n <\/td>\n\n 766,420<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n
\n
\n Vessels under construction<\/u>
\n <\/strong>\n <\/td>\n		\n Type<\/strong>\n <\/td>\n\n Dwt<\/strong>\n <\/td>\n\n To be delivered<\/strong>\n <\/td>\n<\/tr>\n
SBC XY164<\/td>\nUltramax<\/td>\n63,500<\/td>\nQ2 2027<\/td>\n<\/tr>\n
SBC XY166<\/td>\nUltramax<\/td>\n63,500<\/td>\nQ3 2027<\/td>\n<\/tr>\n
\n Total under construction<\/strong>\n <\/td>\n\n 2<\/strong>\n <\/td>\n\n 127,000<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n
Note:<\/strong>
\n \u00a0<\/strong>
\n
(*) Represents the earliest redelivery date
(**) The average Baltic Supramax S10TC Index is an index based on ten Supramax time charter routes.
(***) Vessel is 61% owned by EuroDry Ltd.
(****) Gross Ballast Bonus
(*****) The rate ranges from $11,900 to $13,000, depending on the loading and redelivery areas
(******) The rate ranges from $13,250 to $13,750, depending on the loading and redelivery areas<\/p>\n

\n About EuroDry Ltd.<\/strong>
\n
EuroDry Ltd. was formed on January 8, 2018 under the laws of the Republic of the Marshall Islands to consolidate the drybulk fleet of Euroseas Ltd. into a separate listed public company. EuroDry was spun-off from Euroseas Ltd on May 30, 2018; it trades on the NASDAQ Capital Market under the ticker EDRY.\u00a0<\/p>\n

EuroDry operates in the dry cargo, drybulk shipping market. EuroDry’s operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company and Eurobulk (Far East) Ltd. Inc., which are responsible for the day-to-day commercial and technical management and operations of the vessels. EuroDry employs its vessels on spot and period charters and under pool agreements.<\/p>\n

After the sale of M\/V Eirini P., the Company will have a fleet of 11 vessels, including 2 Kamsarmax drybulk, 3 Panamax drybulk carriers, 5 Ultramax drybulk carriers, and 1 Supramax drybulk carrier. EuroDry\u2019s 11 drybulk carriers have a total cargo capacity of 766,420 dwt. On a fully delivered basis, the Company\u2019s fleet will increase to 13 drybulk ships with a cargo capacity of about 893,420 dwt.<\/p>\n

\n Forward Looking Statement<\/strong>
\n
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company’s growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as “expects,” “intends,” “plans,” “believes,” “anticipates,” “hopes,” “estimates,” and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for dry bulk vessels, competitive factors in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company’s filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.\u00a0<\/p>\n

Visit our website www.eurodry.gr<\/a><\/p>\n\n\n\n
\n Company Contact<\/strong>\n <\/td>\n\n Investor Relations \/ Financial Media<\/strong>\n <\/td>\n<\/tr>\n
Tasos Aslidis
Chief Financial Officer
EuroDry Ltd.
11 Canterbury Lane,
Watchung, NJ07069
Tel. (908) 301-9091
E-mail: aha@eurodry.gr<\/a><\/td>\n		Nicolas Bornozis
Markella Kara
Capital Link, Inc.
230 Park Avenue, Suite 1540
New York, NY10169
Tel. (212) 661-7566
E-mail: eurodry@capitallink.com<\/a><\/td>\n<\/tr>\n<\/table>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

ATHENS, Greece, Sept. 15, 2025 (GLOBE NEWSWIRE) — EuroDry Ltd. (NASDAQ: EDRY, the \u201cCompany\u201d or \u201cEuroDry\u201d), an owner and operator of drybulk vessels and provider of seaborne transportation for drybulk cargoes, announced today that it has signed an agreement to sell M\/V Eirini P., a 76,466 dwt drybulk vessel, built in 2004, to an unaffiliated third party, for approximately $8.5 million. The vessel is expected to be delivered to its buyers in October 2025. Aristides Pittas, Chairman and CEO of EuroDry, commented : \u201cWe are pleased to announce the agreement to sell M\/V Eirini P., one of the three older vessels and the longest-held in our current fleet, for $8.5 million as part of our fleet renewal program. As a … <\/p>\n

Continue reading “EuroDry Ltd. Announces Agreement to Sell M\/V Eirini P, a 2004-built Panamax Bulk Carrier”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-886291","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nEuroDry Ltd. Announces Agreement to Sell M\/V Eirini P, a 2004-built Panamax Bulk Carrier - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/eurodry-ltd-announces-agreement-to-sell-m-v-eirini-p-a-2004-built-panamax-bulk-carrier\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EuroDry Ltd. 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