EuroDry Ltd., an owner and operator of drybulk vessels and provider of seaborne transportation for drybulk cargoes, announced 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 US$8.5 million. The vessel is expected to be delivered to its buyers in October 2025.
Aristides Pittas, Chairman and CEO of EuroDry, commented: “We 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 US$8.5 million as part of our fleet renewal program. As a result of this sale, we expect to generate a gain of approximately US$0.6 million, or about US$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.
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