Greek Aristides Pittas led Eurobulk acquired 2014 built supramax bulk carrier 57K DWT MV Western Honolulu for around $14 million from Japanese shipowner and operator Nisshin Shipping. Eurobulk has not been acquiring any bulk carriers since 2016. In 2016, Eurobulk acquired 2009 built supramax bulk carrier 55K DWT MV Eressos Luck (ex MV Calypso Colossus), In 2017, Eurobulk sold MV Eressos Luck (ex MV Calypso Colossus) for a handsome profit. The dry bulk shipping market has recovered significantly since the post-coronavirus recession. Currently, Japanese shipowners are keen sellers and Japanese shipowners are crowding the Sale and Purchase (S&P) market with sale offers. In 2020, Japanese shipowner and operator Nisshin Shipping has offloaded five (5) bulk carriers. Currently, bulk carrier order-book at the Far East shipyards is at the lowest level in two decades. According to Greek shipowner and operator Eurobulk, the dry bulk shipping market will recover in Q3 2020. Eurobulk pursues asset play opportunities in the dry bulk market. Greek Pittas family controls Eurobulk, EuroDry, and Euroseas. 1-August-2020
Greek Aristides Pittas led Eurobulk sold 1999 built panamax bulk carrier 73K DWT MV Ergina Luck for about $6.5 million. The buyer of MV Ergina Luck has not been disclosed. In recent weeks, prices of vintage panamax bulk carriers have firmed up. MV Ergina Luck was built at Tsuneishi Shipbuilding in 1999. MV Ergina Luck went through a special survey (SS) in 2019. In 2014, Greek shipowner and operator Eurobulk acquired MV Ergina Luck (ex MV Excalibur) for about $10.3 million from British Marine. In July 2019, Eurobulk bought 2005 built kamsarmax bulk carrier 82K DWT MV Yasa Neslihan from Istanbul based shipowner and operator Yasa Shipping for around $11.3 million. Eurobulk has not been active in the sale-and-purchase (S&P) market since 2017. 6-September-2019
Greek Pittas family-controlled Eurobulk makes rare second-hand buy at the beginning of August 2019. CEO Aristides Pittas led Eurobulk 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. 2-September-2019
Greece’s Eurobulk bought supramax M/V Calypso Colossus Japanese built for $8.3 million from K Line (Kawasaki Kisen Kaisha) of Japan. 55K DWT M/V Calypso Colossus built 2004 inspected by many bulk carrier owners. 28-March-2016