Euroseas has ended a three-year absence from the boxship sale-and-purchase market and is eyeing up more transactions at rock-bottom prices.
Aristides Pittas-led Euroseas has bought the 1,400-teu Aegean Express (built 1997) in a $3m deal, its second quarter report said.
Euroseas explained the ship would replace the Captain Costas (built 1992), which was sold for scrap.
The shipowner has revised its loan book and cancelled newbuildings to reduce spending, setting the scene for acquisitions.
“We
