Eurobulk

Greek Pittas family controlled Eurobulk makes rare second-hand buy at the beginning of August 2019. CEO Aristides Pittas led Eurobulk has acquired 2005 built kamsarmax bulk carrier 82K DWT MV Yasa Neslihan from Turkish shipowner and operator Yasa Shipping for about $11.3 million. MV Yasa Neslihan is the Eurobulk’s first dry bulk carrier purchase in three (3) years. 82K DWT MV Yasa Neslihan was built at Sanoyas Shipyard, Japan in 2005. Yasa Shipping has been trying to sell MV Yasa Neslihan since July 2018. Since July 2018, Turkish shipowner and operator Yasa Shipping has been trying to sell five dry bulk carriers all built in 2005 and 2006. MV Yasa Neslihan is the Eurobulk’s first recorded purchase of a dry bulk carrier on the second-hand market since 2016. In 2016, Eurobulk bought 2009 built 55K DWT MV Eressos Luck (ex MV Calypso Colossus) and sold it in 2017 at a considerable profit of almost 80%.

In October 2018, Pittas family’s New York listed company Eurodry bought 2004 Japanese built panamax bulk carrier 75K DWT MV Star of Nippon for around $9.8 million. In February 2019, Eurobulk bought 2004 Japanese built panamax bulk carrier 76K DWT MV Osmarine from japanese shipowner and later on sold MV Osmarine to Greek shipowner Efshipping Co. is now trading as MV Doris (ex MV Osmarine). After the purchase of MV Yasa Neslihan, Eurobulk has a mixed fleet of 25 ships including container ships and bulk carriers. CEO Aristides Pittas is optimistic about the prospects of the dry bulk market. Both private company Eurobulk and public company Eurodry has been carefully evaluating possible acquisitions and opportunities.