TMS Awards 2019Cimbria Bulk Equipment A/SViganTBA GroupPort of Belledune25th Coaltrans Asia
  • 25th Coaltrans Asia
  • Port of Stockton
  • Vigan
  • Cimbria Bulk Equipment A/S
  • Cleveland Cascades Ltd
  • Telestack

EuroDry acquires panamax bulk carrier

(Posted on 15/11/18)

EuroDry Ltd., an owner and operator of drybulk vessels and provider of seaborne transportation for drybulk cargoes, has announced that it signed a memorandum of agreement to purchase the M/V Star of Nippon (to be renamed M/V Starlight), a panamax size drybulk carrier of 75,845 dwt built in 2004 in Japan.

The vessel is expected to be delivered to the Company by the end of November 2018. The Company expects to finance the acquisition with funds at hand and debt which is in the process of arranging. Aristides Pittas, Chairman and CEO of EuroDry Ltd., commented: “We are very pleased to commence the process of growing EuroDry Ltd by acquiring M/V Star of Nippon, a vessel that will complement perfectly the rest of our Japanese built panamaxes and our three newbuilt vessels, an ultramax and two kamsarmaxes. We believe that the drybulk market will provide significant opportunities for positive returns over the next several years and we have been working to position EuroDry to take full advantage of them for the benefit of our shareholders.”

EuroDry Ltd. was formed on January 8, 2018 under the laws of the Republic of the Marshall Islands to consolidate the drybulk fleet of Euroseas Ltd into a separate listed public company. EuroDry was spun-off from Euroseas Ltd on May 30, 2018; it trades on the NASDAQ Capital Market under the ticker EDRY. EuroDry operates in the dry cargo, drybulk shipping market. EuroDry's operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company and Eurobulk (Far East) Ltd. Inc., which are responsible for the dayto-day commercial and technical management and operations of the vessels. EuroDry employs its vessels on spot and period charters. After the acquisition of the M/V Star of Nippon, the Company will have a fleet of 7 vessels, including 4 Panamax drybulk carriers, 1 Ultramax drybulk carrier and 2 Kamsarmax drybulk carriers. EuroDry’s 7 drybulk carriers will have a total cargo capacity of 528,929 dwt.

Latest News

Questionnaires simplified

(Posted on 18/09/19)

AXSMarine, a pioneer and market leader in the provision of advanced solutions for shipping professionals... Read more


New Baltic index launched

(Posted on 18/09/19)

The Baltic Exchange has launched a new assessment to track the cost of operating vessels. Initially... Read more


West of England’s 50 years in Greece

(Posted on 18/09/19)

The West of England, a leading mutual marine insurer, has celebrated the 50th Anniversary of its Greek... Read more


25 years young

(Posted on 10/09/19)

Fleet Management Ltd, one of the world's largest independent third-party ship management companies,... Read more


Misuga migrates Dutch bulkers to Sealink VSAT

(Posted on 10/09/19)

Rotterdam based ship management company Misuga Kaiun Holland B.V. has chosen Marlink to provision cost... Read more


Clipper adds handysizes

(Posted on 10/09/19)

Clipper Bulk, in close collaboration with a financial partner, has acquired three Handysize dry cargo... Read more


Columbia discusses the Ship Manager of the Future

(Posted on 10/09/19)

A vision of the Ship Manager of the Future and the way ship management companies will interact with... Read more


IRClass takes over IACS Chairmanship

(Posted on 10/09/19)

Arun Sharma, Executive Chairman of the Indian Register of Shipping (IRClass), has been formally introduced... Read more


ClassNK’s expert cyber security team

(Posted on 10/09/19)

Leading Classification Society ClassNK has established a cross-sectional cyber security project team... Read more


Fednav’s hometown commitment

(Posted on 03/09/19)

Fednav Limited has taken delivery of the Federal Montreal, its newest Great Lakes-suitable handysize... Read more


Marine Fuels 360 ChinaMULTIMODAL 2019Port of StocktonTOC EventsCleveland Cascades LtdSailors Society
  • TMS Awards 2019
  • MULTIMODAL 2019
  • 5th Biennial LNG Bunkering
  • TOC Events

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping