EuroDry Orders Third Kamsarmax Bulk Carrier for Delivery in 2029

ATHENS, Greece, Oct. 14, 2026 /CourierPR/ -- EuroDry Ltd., an owner and operator of drybulk vessels, has announced the construction of a third 82,000 DWT Kamsarmax bulk carrier. The new vessel, which will be built to eco-design specifications compliant with EEDI Phase 3 standards, is expected to be delivered during the third quarter of 2029. The total consideration for the newbuilding contract is approximately $37.0 million, to be financed through a combination of debt and equity. The contract is conditional upon receiving a refund guarantee from a bank acceptable to the company.

Aristides Pittas, Chairman and CEO of EuroDry, expressed satisfaction with the decision to order the new vessel.

The company's current fleet consists of 11 vessels, including 3 Panamax drybulk carriers, 5 Ultramax drybulk carriers, 2 Kamsarmax drybulk carriers, and 1 Supramax drybulk carrier. These vessels have a total cargo capacity of 766,420 dwt. After the delivery of two Ultramax vessels in 2027 and the delivery of the three Kamsarmax vessels in 2028 and 2029, the company’s fleet will expand to 16 vessels with a total carrying capacity of 1,139,420 dwt.

EuroDry Ltd. was formed on January 8, 2018, under the laws of the Republic of the Marshall Islands to consolidate the drybulk fleet of Euroseas Ltd. into a separate listed public company. EuroDry was spun-off from Euroseas Ltd. on May 30, 2018, and trades on the NASDAQ Capital Market under the ticker EDRY. The company's operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company, and Eurobulk (Far East) Ltd. Inc., responsible for the day-to-day commercial and technical management and operations of the vessels.

The company operates in the dry cargo, drybulk shipping market, employing its vessels on spot and period charters and under pool agreements. EuroDry's fleet profile includes vessels with varying cargo capacities, reflecting the diverse needs of the drybulk market. The company's expansion through the addition of new vessels aims to lower the average age of its fleet and position it competitively in a market environment that increasingly values fuel-efficient and environmentally friendly vessels.

The company's forward-looking statement emphasizes the strategic importance of this new vessel order.