EuroDry Ltd. announced on 21 November that it has signed a contract with Nantong Xiangyu Shipbuilding for the construction of two 63,500 DWT ultramax bulk carriers.
Both of the vessels are geared, eco-friendly, and built to EEDI phase 3 design standards. The two newbuildings are scheduled for delivery in the second and third quarters of 2027.
Aristides Pittas, Chairman and CEO, EuroDry, commented that the addition of the two modern Ultramax vessels to the company’s fleet will solidify its presence in the Supra/Ultramax segment by increasing Eurodry’s fleet in this segment to eight vessels, all with eco-type engines and an environmentally friendly footprint.
The total consideration for the contracts is approximately $71.8 million, which will be financed through a combination of debt and equity.
These contracts reflect our company’s commitment to growing and modernizing our fleet and also highlight our focus on generating returns for our shareholders through timely and accretive investments.
…said Aristides Pittas.
