Greek drybulk owner and operator EuroDry has sealed a deal with Nantong Xiangyu Shipbuilding for the construction of a pair of 63,500-dwt ultramax bulk carriers.
The Nasdaq-listed shipowner said both ships are geared, eco, and are built to EEDI phase 3 design standard.
The two newbuildings are scheduled to be delivered during the second and third quarters of 2027.
The total consideration for the two newbuilding contracts is around $71.8m and will be financed with a combination of debt and equity.
Aristides Pittas, chairman and CEO of EuroDry, said: “We are pleased to announce the ordering of two geared 63,500 dwt ultramax vessels.
“The addition of two modern ultramax vessels in our fleet will solidify our presence in the supra/ultramax segment by increasing our fleet in this segment to eight vessels all with eco type engines and environmentally friendly footprint.
“These contracts reflect our company’s commitment to growing and modernizing our fleet and also highlight our focus on generating returns to our shareholders through timely and accretive investments.”
The Greek shipowner has a fleet of 13 vessels, including 2 kamsarmax drybulk, 5 panamax drybulk carriers, 5 ultramax drybulk carriers, and 1 supramax drybulk carrier.
EuroDry’s 13 drybulk carriers have a total cargo capacity of 918,502 dwt.
On a fully delivered basis, the company’s fleet will increase to 15 drybulk ships with a cargo capacity of about 1,045,502 dwt.
