EuroDry, a US-listed company led by Aristides Pittas, has expanded its fleet further in the expectation that economic stimulus measures worldwide will provide ample employment for its bulkers.
The Athens-based company announced late on Tuesday the acquisition of the 76,400-dwt Santa Cruz (built 2005) for $15.75m. The price includes a charter that earns the Japanese-built ship $14,800 per day until July.
This is the second bulker that EuroDry has agreed to buy this year. In January, the company agreed to spend $21.2m