Euroseas Secures Loan to Finance Ultramax Newbuild

Greek shipping company Euroseas informed about the signing and service of a drawdown notice under a USD 10.86 million loan to finance the recently acquired Ultramax newbuilding.

The 63,500 dwt M/V Alexandros P was delivered to the company from Dayang shipyard in China on January 16, 2017. The bulker is one of the two Ultramaxes ordered by Euroseas in 2013, with the second ship canceled in 2016.

Furthermore, the firm revealed that it has entered into an agreement to sell for scrap the M/V RT Dagr, a 1,645 TEU feeder containership, for USD 2.1 million. The 1998-built vessel is expected to be delivered to its buyers at the beginning of February 2017, according to Euroseas.

“The proceeds from the loan as well as those from the sale of M/V RT Dagr, provide us with significant additional liquidity and ‘fire power’ for our growth plans,” Aristides Pittas, Chairman and CEO of Euroseas, commented.

Currently, Euroseas has a fleet of 13 vessels, comprising 6 bulkers and 7 boxships, the company’s data shows.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2018 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

TRANSTEC 2018

TRANSTEC 2018 welcomes participants to explore Russian Ports and Shipping development opportunities…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

The 27th World Gas Conference

The 27th World Gas Conference is the leading global industry event and is the definitive gathering of influential leaders, buyers and sellers, policy-makers and experts from around the world.

You will hear critical business insights and lively debates on the most topical issues facing the global gas industry today and in the future.

From 25-29 June 2018, Washington DC is expected to host 12,000 attendees, 500 speakers and 350 exhibitors representing, more than 600 companies from 100 countries.

Presented by the IGU, this is the largest and most high-profile gas event that is conducted by the industry for the industry.

Read More

read more >

SMM 2018

This is a must-attend event – a unique opportunity to meet key players, display business strengths, establish new contacts and exchange…

read more >