Recent Updates — EDRY
EuroDry Ltd. has signed a contract with Hengli Shipbuilding (Dalian) to construct a third modern 82,000 DWT Kamsarmax bulk carrier. The vessel will be built to eco-design specifications compliant with EEDI Phase 3 standards and is scheduled for delivery in the third quarter of 2029. Total consideration is approximately $37.0 million, financed through a combination of debt and equity, subject to receiving an acceptable bank refund guarantee. This order brings EuroDry's newbuilding program to five vessels, aiming to lower fleet average age and enhance fuel efficiency. The company operates in the dry cargo, drybulk shipping market.
EuroDry Ltd. reported a net income attributable to controlling shareholders of $6.8 million for the six months ended June 30, 2026, reversing a $6.8 million loss in the prior-year period. Time charter revenue increased significantly to $32.6 million from $21.8 million, driven by an average time charter equivalent (TCE) rate of $17,452 per day, which doubled compared to $8,761 in H1 2025. Operating cash flow surged to $12.5 million from $0.4 million. The company also sold shares under its at-the-market offering program for gross proceeds of $10.2 million in September 2026 and signed a loan agreement with Alpha Bank S.A. for up to $19.0 million. EuroDry Ltd. operates as a drybulk shipping company owning and operating a fleet of bulk carriers.
On September 11, 2026, EuroDry Ltd. entered into an Equity Distribution Agreement with A.G.P./Alliance Global Partners as sales agent. Under this agreement, the company may offer and sell up to $20,000,000 of its common shares from time to time through the agent. This filing incorporates information by reference into the Company’s registration statement on Form F-3 (File No. 333-298606), which was filed on August 27, 2026 and declared effective on September 3, 2026. EuroDry Ltd. operates in the shipping industry, specifically owning and operating a fleet of dry bulk vessels.
EuroDry Ltd. reported net income attributable to controlling shareholders of $6.6 million, or $2.36 per share basic and $2.32 diluted, for the second quarter ended June 30, 2026, compared to a loss in the prior year period. Total net revenues increased 57% to $17.7 million, driven by time charter equivalent rates rising 95.6% to an average of $20,398 per day across an average fleet of 11 vessels. Adjusted EBITDA for the quarter was $11.7 million. For the first half of 2026, net income attributable to controlling shareholders was $6.8 million with revenues of $30.5 million and adjusted EBITDA of $16.6 million. The company also signed a term sheet on July 28, 2026, for up to $19 million in financing to refinance the M/V Ekaterini. EuroDry Ltd. is an owner and operator of drybulk vessels providing seaborne transportation services.
EuroDry Ltd. announced the results of its 2026 Annual General Meeting of Shareholders on July 24, 2026. The filing serves as a formal report of the meeting outcomes as required by the SEC. EuroDry Ltd. is a shipping company that operates dry bulk vessels.
EuroDry Ltd. announced the date for its 2026 Annual Meeting of Shareholders, which is scheduled to be held on July 23, 2026. The filing includes the associated notice, proxy statement, and proxy card. EuroDry Ltd. is a shipping company operating in the maritime industry.