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

China Ships First Large Cargo of Brazilian Sorghum

China Ships First Large Cargo of Brazilian Sorghum

Conoship Adds 40-MWh Battery-Electric Option to CIP3800 Coaster

Conoship Adds 40-MWh Battery-Electric Option to CIP3800 Coaster

MoU Signed to Verify Emissions Reduction Through AI-Based Voyage Optimization

MoU Signed to Verify Emissions Reduction Through AI-Based Voyage Optimization

Sallaum Lines Launches European Automotive Logistics Company

Sallaum Lines Launches European Automotive Logistics Company

Subscribe for Maritime Logistics Professional E‑News

Shein delays Hong Kong debut until September, SCMP reports
The parent company says that the Epstein-linked chairman of Malaysian Port Operator was selected for his expertise.
South Korean container ship to test Arctic route from Europe amid Western concerns