Headquartered in 4 Messogiou Thallasis & Evropis Street, Marousi Fiscal year ends December NASDAQ: EDRY eurodry.gr
EuroDry Ltd. owns and operates drybulk vessels that carry drybulk cargoes by sea. Its common shares trade on the NASDAQ Capital Market under the ticker EDRY. The company was formed in 2018 under Marshall Islands law to hold the drybulk fleet of Euroseas Ltd and was spun off as a separate listed company on May 30, 2018.
The current fleet has 11 vessels with a total cargo capacity of 766,420 dwt:
- 3 Panamax carriers
- 5 Ultramax carriers
- 2 Kamsarmax carriers
- 1 Supramax carrier
The vessels are employed on spot and period time charters and under pool agreements. Several Ultramax and Supramax vessels earn hire indexed to the Baltic Supramax S10TC index. Two Ultramax vessels, M/V Christos K and M/V Maria, are owned through entities that are 61% owned by EuroDry and 39% by NRP Project Finance investors.
Day-to-day commercial and technical management is provided by affiliated managers Eurobulk Ltd. and Eurobulk (Far East) Ltd. Inc. for a daily per-vessel fee, which was raised to 875 euros in 2026.
The company has a five-vessel eco-design newbuilding program:
- two 63,500 DWT Ultramaxes due in 2027;
- three 82,000 DWT Kamsarmaxes from Hengli Shipbuilding (Dalian) due in 2028–2029.
On completion, the fleet would expand to 16 vessels with 1,139,420 dwt. The company funds its growth through bank debt, an At-The-Market equity program and operating cash flow. It also maintains a share repurchase plan. Updated
EuroDry's average time charter rate jumped 55.3% to $20,551 a day, turning a year-ago loss into $6.9 million of net income at a company worth just $113 million. Revenue missed expectations, but management flagged that October rates softened for Panamax and Kamsarmax vessels, the main thing to keep an eye on from here.
EuroDry Ltd. owns and operates drybulk vessels that carry drybulk cargoes by sea. Its common shares trade on the NASDAQ Capital Market under the ticker EDRY.
The Wall Street consensus 12-month price target for EDRY is $52.00.