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
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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