Euroseas Sells 1998 Feeder Containership M/V Diamantis P

TL;DR

Euroseas sold an old ship, M/V Diamantis P. Details TBD.

AI Summary

Euroseas Ltd. announced on January 16, 2025, the sale of its 1998-built feeder containership, M/V Diamantis P, which has a capacity of 2,008 TEU. The sale is part of the company's ongoing fleet renewal strategy. The financial details of the sale were not disclosed in this filing.

Why It Matters

This sale indicates Euroseas is actively managing its fleet by divesting older vessels, potentially to invest in newer, more efficient ships.

Risk Assessment

Risk Level: low — The filing is a routine announcement of a vessel sale and does not contain significant new financial risks.

Key Numbers

• 2,008 TEU — Vessel Capacity (Capacity of the M/V Diamantis P, a 1998-built feeder containership sold by Euroseas.)

Key Players & Entities

• Euroseas Ltd. (company) — Registrant and seller of the vessel
• M/V Diamantis P (company) — Vessel sold by Euroseas
• January 16, 2025 (date) — Date of the press release announcing the sale
• 2,008 TEU (dollar_amount) — Capacity of the sold vessel

FAQ

Key Financial Figures

• $13.15 million — essel, built in 1998, for approximately $13.15 million; the vessel was delivered to its new ow
• $13 million — /V Diamantis P for a price of more than $13 million which we considered attractive compared
• $10.2 m — record a gain on sale of approximately $10.2 million, or about $1.45 per share. The c
• $1.45 — f approximately $10.2 million, or about $1.45 per share. The company that owns M/V D
• $19,000 — , then until Sep-26, then until Nov-26 $19,000 $9,500 $16,500 AEGEAN EXPRESS(*) Fe
• $9,500 — til Sep-26, then until Nov-26 $19,000 $9,500 $16,500 AEGEAN EXPRESS(*) Feeder 18
• $16,500 — 26, then until Nov-26 $19,000 $9,500 $16,500 AEGEAN EXPRESS(*) Feeder 18,581 1,4
• $16,700 — 18,581 1,439 1997 TC until Nov-25 $16,700 Total Container Carriers on the Water
• $15,000 — 72,968 6,350 2005 TC until Aug-25 $15,000 SYNERGY BUSAN(*) Intermediate 50,726
• $35,500 — 50,726 4,253 2009 TC until Dec-27 $35,500 SYNERGY ANTWERP(*) Intermediate 50,7
• $26,500 — 50,726 4,253 2008 TC until Mar-25 $26,500 SYNERGY OAKLAND (*) Intermediate 50
• $42,000 — 50,787 4,253 2009 TC until May-26 $42,000 SYNERGY KEELUNG(*) Intermediate 50,9
• $23,000 — 50,969 4,253 2009 TC until Apr-25 $23,000 EMMANUEL P(*) Intermediate 50,796 4
• $21,000 — 50,796 4,250 2005 TC until Apr-25 $21,000 RENA P(*) Intermediate 50,796 4,250
• $48,000 — 37,237 2,800 2023 TC until Apr-26 $48,000 TERATAKI(*) Feeder 37,237 2,800 20

Filing Documents

• f11725esea6k.htm (6-K) — 65KB
• f11725esea6k002.gif (GRAPHIC) — 41KB
• 0001317861-25-000003.txt ( ) — 122KB

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. EUROSEAS LTD. Dated: January 17, 2025 By: /s/ Aristides J. Pittas Name: Aristides J. Pittas Title: President Exhibit 1 Euroseas Ltd. Announces the Sale of its 1998-built 2,008 teu Feeder Containership, M/V Diamantis P Maroussi, Athens, Greece January 16, 2025 Euroseas Ltd. (NASDAQ: ESEA, the Company or Euroseas), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today that its wholly owned subsidiary, Euroholdings Ltd. (Euroholdings) has sold M/V Diamantis P, a 2,008 teu feeder containership vessel, built in 1998, for approximately $13.15 million; the vessel was delivered to its new owners, an unaffiliated third party, on January 15, 2025. Aristides Pittas, Chairman and CEO of Euroseas, commented: We are pleased to announce the sale of M/V Diamantis P for a price of more than $13 million which we considered attractive compared to employment scenarios for the vessel at prevailing market rates until the vessels next drydocking in October 2026 at which time the vessel would be 28 years old. The vessel was delivered to its buyers today upon completion of minor repairs she underwent after the expiry of its previous charter. We expect to record a gain on sale of approximately $10.2 million, or about $1.45 per share. The company that owns M/V Diamantis P is one of our subsidiaries contributed to Euroholdings, a spin-off of the three oldest vessels of Euroseas that we announced recently. Euroholdings plans to use the proceeds from the sale of M/V Diamantis P to advance its strategy of consolidating older vessels and trying to maximize the value realized. The very fact of the sale of M/V Diamantis P instead of pursuing employment options is a testament of executing this strategy. Euroh

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