Saturday, November 3, 2007

Euroseas Ltd. takes delivery of 15th vessel

Euroseas Ltd., an owner and operator of drybulk carriers and container ships and provider of seaborne transportation for drybulk and containerized cargos has taken delivery of the M/V Trust Jakarta, to be renamed Ioanna P, a Panamax drybulk vessel of 64,873 dwt built in 1984 in Japan.


The vessel was acquired for approximately $28.6 million and was delivered with a time charter attached until July 2008 at a rate of $35,500 per day. On the basis of fixed spot and existing time charters approximately 92% of the vessel capacity in the fourth quarter of 2007 and approximately 46% in 2008 are fixed, which will help protect from market fluctuations.


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