Euroseas Ltd. (NASDAQ: ESEA, the “Company” or “Euroseas”), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced that it has signed an agreement to sell M/V Marcos V, an 6,350 teu intermediate containership built in 2005, to an unaffiliated third party, for $50 million.

The vessel is scheduled to be delivered to its buyer in October 2025. The Company is expected to recognize a gain on the sale in excess of $8.50 million, or $1.20 per share.

Aristides Pittas, Chairman and CEO of Euroseas commented: “We are pleased to announce our agreement to sell our M/V Marcos V for a total price consideration of $50 million. The vessel was acquired in Q4 2021 for $40m, attached with a time charter contract at a rate of $42,000 per day for three years, plus a fourth year at the option of the charterer at $15,000 per day which was exercised. M/V Marcos V, upon its delivery to its new owners in October 2025, will have generated exceptional returns to our shareholders, realizing more than five times our original equity investment”.

Euroseas Ltd. Press release