EuroDry Ltd. Announces Agreement to Sell M/V Tasos, a 2000-built Panamax Bulk Carrier
EuroDry Ltd., an owner and operator of drybulk vessels and provider of seaborne transportation for drybulk cargoes, announced today that it has signed an agreement to sell M/V Tasos, a 75,100 dwt drybulk vessel, built in 2000, for demolition, for approximately $5 million. The vessel is expected to be delivered to its buyers, an unaffiliated third party, between mid-February and mid-March 2025, upon completion of her present charter.
Aristides Pittas, Chairman and CEO of EuroDry, commented: “We are pleased to announce our agreement to sell of our M/V Tasos, the eldest Panamax-size bulker of our fleet which was due for a costly fifth special survey, for recycling. As a result of this sale, we expect to book a gain of approximately $2.1 million, or about $0.75 per share. The net proceeds of this sale will increase our near-term liquidity and enable us to quickly capitalize on accretive investment opportunities in the sector, when they arise, for the benefit of our shareholders.”
Source: EuroDry Ltd.
