Greek dry bulk owner EuroDry has agreed to acquire three ultramax bulkers from UK-based marine asset manager firm Marine Capital.
EuroDry said that it bought the 63,197 dwt Giants Causeway and the 63,153 dwt Sadlers Wells, both built in 2015, as well as the 63,177 dwt, 2014-built Gallileo for a total price of about $65m.
The vessels are expected to be delivered to the company during October and November 2023. The acquisitions will be financed by EuroDry’s own funds and bank debt.
“The vessels are sisterships of our own Alexandros P which was built at the same shipyard in 2017. This acquisition further expands our modern fleet cluster at a time when we believe that the market fundamentals, especially the low orderbook, are very supportive of a healthy market over the next two to three years,” Aristides Pittas, chairman and CEO of EuroDry, stated.
EuroDry has been linked by brokers to the acquisition of the entire Marine Capital fleet, but the company has not confirmed the acquisition of the only remaining bulker in the asset manager’s fleet, the 63,200 dwt, 2014-built Cape Cross – another sister vessel of the Alexandros P.
With the acquisition of these three ultramaxes, EuroDry has increased its fleet from ten to 13 dry bulkers.
