Year
Name Type Dwt TEU Built Employment TCERate ($/day)
============ ======= ====== ==== ============== ===============
Dry Bulk
Vessels
============ ======= ====== ==== ============== ===============
PANTELIS Panamax 74,020 2000 TC til Feb-12 $17,500
============ ======= ====== ==== ============== ===============
ELENI P Panamax 72,119 1997 TC 'til Jan-13 $16,500
============ ======= ====== ==== ============== ===============
IRINI Panamax 69,734 1988 TC 'til Apr-13 $14,000
============ ======= ====== ==== ============== ===============
ARISTIDES N.P. Panamax 69,268 1993 TC'till May-12 $14,950
============ ======= ====== ==== ============== ===============
MONICA P(*) Handymax 46,667 1998 Bulkhandling Pool
============ ======= ====== ==== ============== ===============
Total Dry Bulk
Vessels 5 331,808
============ ======= ====== ==== ============== ===============
Multipurpose Dry
Cargo Vessels
============ ======= ====== ==== ============== ===============
$9,500 'til
Dec-10,
$9,000 'til
TASMAN TRADER 1 22,568 950 1990 TC 'til Mar-12 Mar-12
============ ======= ====== ==== ============== ===============
Container
Carriers
============ ======= ====== ==== ============== ===============
$16,800 'til
Aug-11
$18,735 'til
Aug-12
TC 'til Aug-11 $19,240 'til
(3 annual Aug-13
MAERSK options $19,750 'til
NOUMEA Intermediate 34,677 2,556 2001 'til Aug-14) Aug-14
============ ======= ====== ==== ============== ===============
TC 'til Mar-11 $4,000
TIGER Option
BRIDGE Intermediate 31,627 2,228 1990 til Mar-12 $7,500
============ ======= ====== ==== ============== ===============
AGGELIKI P Intermediate 30,360 2,008 1998 TC 'til May-11 $7,000
============ ======= ====== ==== ============== ===============
DESPINA P Handy size 33,667 1,932 1990 In Dry-dock
============ ======= ====== ==== ============== ===============
JONATHAN P
(ex-OEL
INTEGRITY) Handy size 33,667 1,932 1990 TC til April-11 $9,000
============ ======= ====== ==== ============== ===============
CAPTAIN COSTAS
(ex-OEL Monthly options
TRANSWORLD) Handy size 30,007 1,742 1992 TC'til Mar -11 $4,250
============ ======= ====== ==== ============== ===============
YM Port Klang
(ex-Mastro
Nicos) Handy size 23,596 1,599 1993 TC 'til Nov-11 $5,900
============ ======= ====== ==== ============== ===============
MANOLIS P Handy size 20,346 1,452 1995 TC 'til May-11 $7,699
============ ======= ====== ==== ============== ===============
NINOS (ex-YM
QINGDAO I) Feeder 18,253 1,169 1990 TC 'til Mar-11 $6,800
============ ======= ====== ==== ============== ===============
KUO HSIUNG Feeder 18,154 1,169 1993 TC 'til Jun-11 $5,300
============ ======= ====== ==== ============== ===============
Total Container
Carriers 10 274,354 17,787
============ ======= ====== ==== ============== ===============
Fleet Grand
Total 16 628,730 18,737
============ ======= ====== ==== ============== ===============
TC denotes time charter. All dates listed are the earliest redelivery dates
under each TC.
(*) "Monica P" is employed in the Bulkhandling spot pool that is managed by
Klaveness, a major global charterer in the drybulk area.
(**) The company has concluded a Forward Freight Agreement(FFA) option
contract on the panamax index for calendar 2011 for a modern panamax. Such
a contract serves as an approximate hedge to one of our panamax vessels for
2011 effectively locking in a rate between $16,500 and $23,500.
About Euroseas Ltd.
Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of
the Marshall Islands to consolidate the ship owning interests of the Pittas
family of Athens, Greece, which has been in the shipping business over the
past 136 years. Euroseas trades on the NASDAQ Global Market under the
ticker ESEA since January 31, 2007.
Euroseas operates in the dry cargo, drybulk and container shipping markets.
Euroseas' operations are managed by Eurobulk Ltd., an ISO 9001:2000
certified affiliated ship management company, which is responsible for the
day-to-day commercial and technical management and operations of the
vessels. Euroseas employs its vessels on spot and period charters and
through pool arrangements.
The Company has a fleet of 16 vessels, including 4 Panamax drybulk carriers
and 1 Handymax drybulk carrier, 3 Intermediate containership, 5 Handysize
containerships, 2 Feeder containerships and a multipurpose dry cargo
vessel. Euroseas' 5 drybulk carriers have a total cargo capacity of 331,808
dwt, its 10 containerships have a cargo capacity of 17,787 teu and its
multipurpose vessel has a cargo capacity of 22,568 dwt or 950 teu.
Forward - Looking Statement
This press release contains forward-looking statements (as defined in
Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended) concerning future events
and the Company's growth strategy and measures to implement such strategy;
including expected vessel acquisitions and entering into further time
charters. Words such as "expects," "intends," "plans," "believes,"
"anticipates," "hopes," "estimates," and variations of such words and
similar expressions are intended to identify forward-looking statements.
Although the Company believes that the expectations reflected in such
forward-looking statements are reasonable, no assurance can be given that
such expectations will prove to have been correct. These statements involve
known and unknown risks and are based upon a number of assumptions and
estimates that are inherently subject to significant uncertainties and
contingencies, many of which are beyond the control of the Company. Actual
results may differ materially from those expressed or implied by such
forward-looking statements. Factors that could cause actual results to
differ materially include, but are not limited to changes in the demand for
dry bulk vessels and container ships, competitive factors in the market in
which the Company operates; risks associated with operations outside the
United States; and other factors listed from time to time in the Company's
filings with the Securities and Exchange Commission. The Company expressly
disclaims any obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to reflect any
change in the Company's expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is based.
Visit our website www.euroseas.gr
Contact Information: Company Contact Tasos Aslidis Chief Financial Officer Euroseas Ltd. 11 Canterbury Lane, Watchung, NJ 07069 Tel. (908) 301-9091 E-mail: aha@euroseas.gr Investor Relations / Financial Media Nicolas Bornozis President Capital Link, Inc. 230 Park Avenue, Suite 1536 New York, NY 10169 Tel. (212) 661-7566 E-mail: nbornozis@capitallink.com