Home » EuroDry Ltd. Announces contract to obtain M/V Santa Cruz, a Panamax that is 2005-built Bulker [ad_1] EuroDry Ltd., an owner and operator of drybulk vessels and provider of seaborne transportation for drybulk cargoes, announced today that it has agreed to acquire M/V Santa Cruz, a 76,440 dwt drybulk vessel built in 2005, for $15.75 million. The vessel was controlled by an un-affiliated party that is third happens to be handled by Eurobulk Ltd., additionally the supervisor associated with the most of the Company’s vessels. The vessel is anticipated is brought to the business across the end of 2022 april. The Company will also assume the charter that is existing of vessel at $14,800 a day until July 2022. The purchase shall be financed with own funds. Aristides Pittas, Chairman and CEO of EuroDry commented:“We are pleased to announce the acquisition of M/V Santa Cruz, a Panamax, drybulk carrier built in 2005. This acquisition further expands our fleet at a right time once the marketplace principles are very supporting inside the framework of geopolitical concerns. Need is anticipated to stay powerful, supported by the demand that is huge energy and infrastructure projects that have been announced by various governments while fleet growth is expected to be limited as evidenced by the historically low levels of the orderbook. At current market rates, we expect that M/V Santa Cruz will make a contribution that is significant our net gain and EBITDA. The buildup of resources which our fleet creates offers us with considerable expansion that is fleet as well as other shareholder incentive choices and we’ll carry on seeking those most suitable for the advantage of our investors at any provided point.”Source: EuroDry Ltd. [ad_2]

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