EuroHoldings, an owner and operator of ocean-going vessels and provider of seaborne transportation, announced that it has signed a Memorandum of Agreement (MoA) to acquire, a medium-range (MR) product tanker vessel with capacity of 49,997 dwt, built in 2015 in South Korea, from an affiliated party.
The vessel will be purchased for a price of $31.83 million, with delivery expected in mid-November 2025. An independent committee of disinterested directors was formed to evaluate and approve the transaction. The acquisition will be financed with a combination of conventional debt and equity.
Aristides Pittas, Chairman and CEO of EuroHoldings commented: “We are very pleased to announce the acquisition of our first tanker, a modern MR vessel built in 2015, marking our previously announced decision to pivot toward the tanker sector. We believe that this strategic move into the tanker sector comes at an opportune time in a period where the product tanker sector continues to demonstrate strong fundamentals. Our Board and major shareholders are committed to growing EuroHoldings into a significant publicly-listed participant in the sector. ”