New York-listed EuroDry has enlarged its fleet to eight bulkers by acquiring a used panamax from the privately managed vessel stock of its founder.

Aristides Pittas-led EuroDry has agreed to buy the 74,700-dwt Blessed Luck (built 2004) for $12.1m.

The ship was owned by a third party and managed by Eurobulk, a private company of the Pittas family, which manages another three EuroDry vessels as well.

Eurobulk's clients had bought the ship in 2015 for about $11.3m, as TradeWinds reported at the time.