Register now for the Port of the Future Conference • 2 Days, 50 Ports • Houston/Galveston area, TX • April 12–14, 2027

Euroseas Report Loss in 4Q, FY 2014

February 16, 2015

 

Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the three month period and full year ended December 31, 2014.

Total net revenues of $11.5 million. Net loss of $7.0 million; net loss attributable to common shareholders (after a $0.4 million of dividend on Series B Preferred Shares) of $7.3 million or $0.13 loss per share basic and diluted. Adjusted net loss attributable to common shareholders1 for the period was $3.8 million or $0.07 loss per share basic and diluted.
Adjusted EBITDA was 0.3 million.

An average of 15.00 vessels were owned and operated during the fourth quarter of 2014 earning an average time charter equivalent rate of $7,823 per day.

The Company declared and paid its fourth dividend of $0.4 million on its Series B Preferred Shares; the dividend was paid in-kind by issuing additional Series B preferred shares.
 

Logistics News

Russia Ships More Than 10 Million Barrels of Crude to China Via Northern Sea Route

Russia Ships More Than 10 Million Barrels of Crude to China Via Northern Sea Route

Baltic Index Hits Almost Five-Year High

Baltic Index Hits Almost Five-Year High

PANYNJ, CALSTART Launch Electric Truck Incentive Programs

PANYNJ, CALSTART Launch Electric Truck Incentive Programs

Lloyd’s Register, MARIC Secure AiP for Tri-Fuel Tanker Concept

Lloyd’s Register, MARIC Secure AiP for Tri-Fuel Tanker Concept

Subscribe for Maritime Logistics Professional E‑News

Florida bans highway plate readers after backlash against surveillance
US airlines prioritize safety systems to prevent mid-air collisions over legal mandate, says provider
France begins testing Tesla's self driving tech