Eurodry ltd. announces delivery of m/v yannis pittas, an eco ultramax drybulk carrier

Athens, greece, oct. 13, 2023 (globe newswire) -- eurodry ltd. (nasdaq: edry, the “company” or “eurodry”), an owner and operator of drybulk vessels and provider of seaborne transportation for drybulk cargoes, announced today that it took delivery of the previously announced acquisition of m/v yannis pittas (ex-gallileo), a 63,177 dwt ultramax drybulk carrier built in 2014, the first of three ultramax carriers it agreed to acquire. the consideration for the vessel was paid by cash at-hand; the company has arranged a sustainability-linked loan of $10.5 million with eurobank s.a. to partly finance the acquisition which is expected to be drawn by october 16, 2023. the vessel is employed under a time charter contract until december 2023 at $12,500 per day.
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