Year TCE Rate
Name Type Dwt TEU Built Employment ($/day)
---------- ----------- -------- -------- -------- ------------ -----------
Dry Bulk
Vessels
---------- ----------- -------- -------- -------- ------------ -----------
GLORIOUS
WIND (to
be renamed) Panamax 72,119 1997 Spot Spot
---------- ----------- -------- -------- -------- ------------ -----------
Baumarine
IRINI (*) Panamax 69,734 1988 Pool
---------- ----------- -------- -------- -------- ------------ -----------
ARISTIDES
N.P. Panamax 69,268 1993 Spot
---------- ----------- -------- -------- -------- ------------ -----------
MONICA P Bulkhandling
(**) Handymax 46,667 1998 Pool
---------- ----------- -------- -------- -------- ------------ -----------
GREGOS Handysize 38,691 1984 Spot
---------- ----------- -------- -------- -------- ------------ -----------
Total Dry
Bulk
Vessels 5 296,479
---------- ----------- -------- -------- -------- ------------ -----------
---------- ----------- -------- -------- -------- ------------ -----------
Multipurpose
Dry Cargo
Vessels
---------- ----------- -------- -------- -------- ------------ -----------
$9,500 'til
TASMAN TC 'til Dec-10,
TRADER 1 22,568 950 1990 Mar-12 $9,000 'til
Mar-12
---------- ----------- -------- -------- -------- ------------ -----------
Container
Carriers
---------- ----------- -------- -------- -------- ------------ -----------
$16,800 'til
Aug 11
TC 'til $18,735 'til
Aug-11 Aug 12
MAERSK (3 annual $19,240 'til
NOUMEA Intermediate 34,677 2,556 2001 options Aug 13
'til Aug-14) $19,750 'til
Aug 14
---------- ----------- -------- -------- -------- ------------ -----------
TIGER Intermediate 31,627 2,228 1990 TC 'til $16,500
BRIDGE Jul-09
---------- ----------- -------- -------- -------- ------------ -----------
ARTEMIS Intermediate 29,693 2,098 1987 Open
---------- ----------- -------- -------- -------- ------------ -----------
DESPINA P Handysize 33,667 1,932 1990 Open
---------- ----------- -------- -------- -------- ------------ -----------
OEL
INTEGRITY
(ex-JOHN- TC 'til
ATHAN P) Handysize 33,667 1,932 1990 Mar-09 $16,500
---------- ----------- -------- -------- -------- ------------ -----------
TC 'til
OEL Oct-09 $12,000
TRANSWORLD 'til Oct-10 $10,000
(ex-CLAN Handysize 30,007 1,742 1992 (owner's (owner's
GLADITOR) option) option)
---------- ----------- -------- -------- -------- ------------ -----------
YM TC 'til
XINGANG I Handysize 23,596 1,599 1993 Jul-09 $26,650
---------- ----------- -------- -------- -------- ------------ -----------
TC 'til
MANOLIS P Handysize 20,346 1,452 1995 Oct-09 $15,800
---------- ----------- -------- -------- -------- ------------ -----------
NINOS
(ex-YM TC 'til
QINGDAO I) Feeder 18,253 1,169 1990 Apr-10 $8,060
---------- ----------- -------- -------- -------- ------------ -----------
KUO
HSIUNG Feeder 18,154 1,169 1993 Open
---------- ----------- -------- -------- -------- ------------ -----------
Total
Container
Carriers 10 273,687 17,877
---------- ----------- -------- -------- -------- ------------ -----------
Fleet
Grand
Total 16 592,734 18,827
---------- ----------- -------- -------- -------- ------------ -----------
(*) "IRINI" is employed in the Baumarine spot pool that is managed by
Klaveness, a major global charterer in the dry bulk area.
(**) "Monica P" is employed in the Bulkhandling spot pool that is managed
by Klaveness, a major global charterer in the dry bulk area.
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.
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 15 vessels, including 2 Panamax drybulk
carriers, 1 Handymax drybulk carrier, 1 Handysize drybulk carrier, 3
Intermediate container ship, 5 Handysize container ships, 2 Feeder
container ships and a multipurpose dry cargo vessel. Euroseas' 4 drybulk
carriers have a total cargo capacity of 224,360 dwt, its 10 container ships
have a cargo capacity of 17,787 teu and its 1 multipurpose vessel has a
cargo capacity of 22,568 dwt or 950 teu.
The Company has also entered into an agreement to acquire an additional
Panamax drybulk carrier, to be delivered in March 2009, thereby expanding
its total fleet to 16 vessels.
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, 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.
Contact Information: Contact: Visit our website www.euroseas.gr 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