Euroseas Ltd. Announces Agreement to Sell its 2005-built 6,350 teu Intermediate Containership, M/V Marcos V

Euroseas Ltd., an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today that it has signed an agreement to sell M/V Marcos V, an 6,350 teu intermediate containership built in 2005, to an unaffiliated third party, for $50 million. The vessel is scheduled to be delivered to its buyer in October 2025. The Company is expected to recognize a gain on the sale in excess of $8.50 million, or $1.20 per share.

Aristides Pittas, Chairman and CEO of Euroseas commented: “We are pleased to announce our agreement to sell our M/V Marcos V for a total price consideration of $50 million. The vessel was acquired in Q4 2021 for $40m, attached with a time charter contract at a rate of $42,000 per day for three years, plus a fourth year at the option of the charterer at $15,000 per day which was exercised. M/V Marcos V, upon its delivery to its new owners in October 2025, will have generated exceptional returns to our shareholders, realizing more than five times our original equity investment.”
Source: Euroseas Ltd.