Drybulk and container shipping operator Euroseas has announced that it signed a memorandum of agreement to purchase the Capetan Tassos, a Japanese built 75,100dwt panamax drybulk carrier for approximately $4.4m.
, a Japanese built 75,100dwt panamax drybulk carrier for approximately $4.4m.The vessel is expected to be delivered to the company in January 2017.
In the meantime, Euroseas also reached an agreement with a company affiliated with its CEO to draw a $2m loan to finance working capital needs.
“We are very pleased to announce the acquisition of M/V Capetan Tassos as we believe the sector is approaching a turning point after a long period of depressed rates. Furthermore, to facilitate the acquisition and provide additional working capital, we arranged for a short term loan with an affiliated party; the loan was negotiated by an independent committee of our board of directors and carries what we believe to be better-than market terms,” commented Aristides Pittas, Chairman and CEO of Euroseas.
