EuroDry Ltd. announced an agreement on September 15, 2025, to sell the MV Eirini P., a 2004-built Panamax bulk carrier, for approximately $8.50 million. The sale is expected to close in October 2025. This divestiture is a continuation of the company's strategic fleet modernization program.
The transaction is projected to generate a gain of about $0.60 million, or $0.21 per share. The proceeds from this sale are expected to bolster EuroDry's balance sheet and near-term liquidity. This move supports the company's goal of replacing older vessels with younger, more fuel-efficient ones.
This sale follows the earlier divestiture of the MV Tasos and is part of a broader strategy to eventually sell other older vessels. By divesting less efficient assets, EuroDry aims to enhance its operational efficiency and competitive standing in the dry bulk market.
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