During the first half and during the month of July of 2014, the drybulk market weakened significantly against expectations widely held in the industry while the containership market remained static at low levels, Aristides Pittas, Chairman and CEO of Euroseas, shipowner and
operator said, commenting first half results. “Despite these developments, we continue to believe that both markets will show a gradual improvement over the rest of 2014 and during 2015. Our fleet continues to have a high exposure to the spot market and our chartering strategy remains to pursue short term charters of 3-12 months when possible.
We are thus well positioned to take advantage of an improving market,” Pittas added. Euroseas rerecorded a net loss of $7.2 million in the first half of 2014, its total net revenues reaching $19.1 million. Adjusted net loss per share available to common shareholders1 for the period was $0.15. An average of 14.2 vessels were owned and operated during the first half of 2014 earning an average time charter equivalent rate of $7,585 per day. Tasos Aslidis, Chief Financial Officer of Euroseas said: “The results of the second quarter of 2014 reflect the depressed level of the containership and drybulk markets compared to the same quarter of 2013, despite the better commercial utilization rate of the vessels. “On the financing front, we were able to secure financing for our recent acquisition of M/V Eirini P as well as refinance the balloon payment of loan of M/V Eleni P. As of June 30, 2014, our outstanding debt was $59.4 million versus restricted and unrestricted cash of about $46.4 million. As of the same date, our scheduled debt repayments over the next 12 months amounted to about $14.6 million, inclusive of about $4.9 million of balloon repayments which may be refinanced. All our debt covenants are satisfied,” he added.
Isciviti alla newsletter
Sezioni
- Shipping (5553)
- Economia (4998)
- Logistica e Trasporti (4414)
- Infrastrutture (3479)
- Nautica (1483)
- Eventi e turismo (952)
- Cultura (200)
- Diritto - Fisco (100)
- Editoriale (14)
Archivio blog
- ► 2023 (2311)
- ► 2022 (1425)
- ► 2021 (1236)
- ► 2020 (1389)
- ► 2019 (1517)
- ► 2018 (1670)
- ► 2017 (1497)
- ► 2016 (2092)
- ► 2015 (3095)
-
▼
2014
(3037)
-
▼
agosto
(279)
-
▼
ago 09
(14)
- Wine Cruises: tre crociere dedicate all'enologia
- Tirrenia: autotrasportatori, ok carte di pagamento...
- Mobile Seaports to Enter Market
- Liverpool2 to Feature Chinese Megamax Cranes
- Intervento Antitrust contro pratiche scorrette
- Flavia Tartaglini e una sana, costruttiva arrabbia...
- Demografia d’impresa
- Fipe: gasolio e servizi pubblici fanno correre i p...
- Containership and Drybulk Markets Depressed
- Guardia Costiera Napoli - Emergenza in mare 1530
- Aquece Rio-international sailing regatta
- ALITALIA: Nasso (Filt), valutare il duro prezzo pa...
- A big maritime industry ‘family’: WISTA-UK celebra...
- Produzione industriale
-
▼
ago 09
(14)
-
▼
agosto
(279)
- Blog Comments
- Facebook Comments
Translate
I più cliccati degli ultimi 30 giorni
-
20 aprile 2024 - DEME si è aggiudicata due contratti dal fornitore di soluzioni via cavo Prysmian per i lavori di ingegneria e installazione...
-
20 aprile 2024 - “Il ministro dei Trasporti inviti l’Autorità di Regolazione dei Trasporti a chiarire che nessun contributo è dovuto da par...
-
20 aprile 2024 - L’impianto solare Muelle Príncipe Felipe è ora operativo al 100%. L’infrastruttura è stata collegata alla rete elettrica in...
-
11 aprile 2024 – “Un concreto passo avanti nell’ottica di una sempre maggiore competitività della bandiera italiana nei confronti delle a...
-
20 aprile 2024 - Torghatten Nord ha scelto il cantiere norvegese Myklebust per la costruzione di due traghetti a idrogeno, che trasporterann...
-
19 aprile 2024 — Automar S.p.A. ha annunciato l'organizzazione dell'Open Day dedicato alla professione di autista di bisarca. L’even...