Euroseas Ltd. an owner and operator of drybulk carriers, container ship and multipurpose vessels and provider of seaborne transportation for drybulk and containerized cargoes, signed a MoA to purchase the M/V Trust
The M/V Trust Jakarta was acquired for approximately $28.6 million and comes with a period charter attached until July 2008 at a rate of $35,500 per day. The vessel will be delivered to the Company between October 15 and November 15, 2007 at the sellers option and will be renamed M/V Ioanna P. This will be the seventh vessel to be purchased this year and the fourth since our follow-on equity offering in June 2007.
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