EuroDry Ltd. Sells 2004 Panamax Bulk Carrier M/V Eirini P

TL;DR

EDRY selling M/V Eirini P by Sept 30, fleet renewal continues.

AI Summary

On September 15, 2025, EuroDry Ltd. announced an agreement to sell its 2004-built Panamax bulk carrier, the M/V Eirini P. The sale is expected to be completed by September 30, 2025. This transaction is part of the company's ongoing strategy to renew its fleet.

Why It Matters

The sale of older vessels allows EuroDry to potentially reinvest in newer, more efficient ships, which can impact operational costs and environmental compliance.

Risk Assessment

Risk Level: low — The filing is a routine announcement of a vessel sale, which is a common operational event for shipping companies.

Key Players & Entities

• EuroDry Ltd. (company) — Registrant and seller of the vessel
• M/V Eirini P (company) — Vessel being sold
• September 15, 2025 (date) — Date of the press release
• September 30, 2025 (date) — Expected completion date of the sale
• Aristides Pittas (person) — Chairman and CEO of EuroDry Ltd.

FAQ

Key Financial Figures

• $8.5 million — filiated third party, for approximately $8.5 million. The vessel is expected to be delivered
• $0.6 m — ect to generate a gain of approximately $0.6 million, or about $0.21 per share. The ne
• $0.21 — of approximately $0.6 million, or about $0.21 per share. The net proceeds will streng
• $17,000 — msarmax 82,006 2018 TC until Oct-25 $17,000 plus a GBB(****) of $700,000 XENIA Ka
• $700,000 — til Oct-25 $17,000 plus a GBB(****) of $700,000 XENIA Kamsarmax 82,019 2016 TC unt
• $17,250 — sarmax 82,019 2016 TC until Sep-25 $17,250 plus a GBB(****) of $725,000 ALEXANDRO
• $725,000 — il Sep-25 $17,250 plus a GBB(****) of $725,000 ALEXANDROS P. Ultramax 63,127 2017
• $12,700 — ltramax 63,127 2017 TC until Oct-25 $12,700 CHRISTOS K (***) Ultramax 63,197 20
• $11,500 — ltramax 63,197 2015 TC until Sep-25 $11,500 YANNIS PITTAS Ultramax 63,243 2014
• $13,500 — Panamax 76,440 2005 TC until Dec-25 $13,500 STARLIGHT (*****) Panamax 75,611 20
• $12,500 B — Panamax 75,611 2004 TC until Dec-25 $12,500 BLESSED LUCK Panamax 76,704 2004 TC u
• $11,900 — ast Bonus (*****) The rate ranges from $11,900 to $13,000, depending on the loading an
• $13,000 — (*****) The rate ranges from $11,900 to $13,000, depending on the loading and redeliver
• $13,250 — ry areas (******) The rate ranges from $13,250 to $13,750, depending on the loading an
• $13,750 — ******) The rate ranges from $13,250 to $13,750, depending on the loading and redeliver

Filing Documents

• f091525edry6k.htm (6-K) — 34KB
• f091525edry6k001.jpg (GRAPHIC) — 33KB
• 0001317861-25-000051.txt ( ) — 81KB

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. EURODRY LTD. Dated: September 15, 2025 By: /s/ Aristides J. Pittas Name: Aristides J. Pittas Title: President Exhibit 1 EuroDry Ltd. Announces Agreement to Sell M/V Eirini P, a 2004-built Panamax Bulk Carrier Athens, Greece September 15, 2025 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 has signed an agreement to sell M/V Eirini P., a 76,466 dwt drybulk vessel, built in 2004, to an unaffiliated third party, for approximately $8.5 million. The vessel is expected to be delivered to its buyers in October 2025. Aristides Pittas, Chairman and CEO of EuroDry, commented : We are pleased to announce the agreement to sell M/V Eirini P., one of the three older vessels and the longest-held in our current fleet, for $8.5 million as part of our fleet renewal program. As a result of this sale, we expect to generate a gain of approximately $0.6 million, or about $0.21 per share. The net proceeds will strengthen our balance sheet position and increase our near-term liquidity, providing us with more flexibility to pursue the renewal of our fleet with more modern, fuel efficient and environmentally friendly vessels. The EuroDry Ltd. fleet profile, after the sale of M/V Eirini P., is as follows: Name Type Dwt Year Built Employment (*) TCE Rate ($/day) Dry Bulk Vessels EKATERINI Kamsarmax 82,006 2018 TC until Oct-25 $17,000 plus a GBB(****) of $700,000 XENIA Kamsarmax 82,019 2016 TC until Sep-25 $17,250 plus a GBB(****) of $725,000 ALEXANDROS P. Ultramax 63,127 2017 TC until Oct-25 $12,700 CHRISTOS K (***) Ultramax 63,197 2015 TC until Sep-25 $11,500 YANNIS PITTAS Ultramax 63,243 2014 TC until Oct-2

View Full Filing

View this 6-K filing on SEC EDGAR