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Euroseas buys 4 feeder box ships from Euromar JV for US$25 million
EUROSEAS has acquired two feeder containerships with options to purchase two more from Euromar, a joint venture owned by Euroseas and two private equity firms, for a combined total of US$25 million. The vessels are due for delivery by year-end.
The Greek owner is acquiring the 2000-built 2,506-TEU pair EM Athens and EM Oinousses, and has the option to acquire the 2001-built 2,556-TEU EM Corfu and the 5,600-TEU Akinada Bridge, reported Singapore's Splash 24/7.
Euroseas also announced that it has acquired an additional 85.714 per cent shareholding in Euromar for a nominal cost to give it full ownership. Euromar owns five additional containerships on top of the four sold to Euroseas.
Said Euroseas CEO Aristides Pittas: "We are pleased to take full ownership of Euromar and we are looking forward to working constructively with its lenders to maximise the value of its remaining vessels for the benefit of our shareholders and all parties involved.
"We are encouraged by the stronger drybulk and containership markets during the last few months and we hope to be able to capitalise on the continuing improvement of both sectors," Mr Pittas said.
The Greek owner is acquiring the 2000-built 2,506-TEU pair EM Athens and EM Oinousses, and has the option to acquire the 2001-built 2,556-TEU EM Corfu and the 5,600-TEU Akinada Bridge, reported Singapore's Splash 24/7.
Euroseas also announced that it has acquired an additional 85.714 per cent shareholding in Euromar for a nominal cost to give it full ownership. Euromar owns five additional containerships on top of the four sold to Euroseas.
Said Euroseas CEO Aristides Pittas: "We are pleased to take full ownership of Euromar and we are looking forward to working constructively with its lenders to maximise the value of its remaining vessels for the benefit of our shareholders and all parties involved.
"We are encouraged by the stronger drybulk and containership markets during the last few months and we hope to be able to capitalise on the continuing improvement of both sectors," Mr Pittas said.
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