Euroseas has settled its dispute with Dayang shipyard by acquiring one ultramax bulker for deposits already paid.
The Aristides Pittas-led company has added the 63,500-dwt newbuilding Alexandros P for 62% of its contracted price.
Euroseas ordered two vessels for $27.7m each at Sinopacific Shipbuilding Group’s Dayang yard in 2014.
This means Euroseas will now acquire the vessel for around $17.1m, an amount which has been covered through deposit payments made for the two vessels in previous months.
The
