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EuroDry Ltd. filings document the company as a foreign private issuer reporting on a drybulk vessel owner and operator. Form 6-K reports provide operating results, vessel employment data, time charter equivalent rates, fleet profiles, share repurchase activity, debt financing arrangements and other material updates incorporated by reference into registration statements on Form F-3.
The filing record also covers governance and shareholder matters, including annual general meeting results, director elections and auditor approval. Financial disclosures include revenue, earnings, adjusted EBITDA measures, common share information, related-party items and capital-structure details tied to the company's Marshall Islands drybulk shipping business.
EuroDry Ltd. signed an agreement to sell the 76,466 dwt Panamax M/V Eirini P., built in 2004, to an unaffiliated third party for approximately $8.5 million, with delivery expected in October 2025. The company expects a gain of about $0.6 million (approximately $0.21 per share). Management says net proceeds will strengthen the balance sheet and increase near-term liquidity to support a fleet renewal program focused on more modern, fuel-efficient vessels. After the sale the fleet will total 11 vessels (766,420 dwt); on a fully delivered basis the fleet will reach 13 vessels (about 893,420 dwt).
EuroDry Ltd. reported weaker operating results for Q2 and the first half of 2025 as time charter equivalent (TCE) rates and fleet size declined versus 2024. Total net revenues for Q2 were $11.3 million, down 35.3% from Q2 2024, producing a net loss attributable to controlling shareholders of $3.1 million (loss of $1.12 per share). Adjusted EBITDA for Q2 was $1.9 million versus $5.0 million a year earlier. For H1 2025, net revenues were $20.5 million and net loss attributable to controlling shareholders was $6.8 million (loss of $2.47 per share); H1 adjusted EBITDA was $0.9 million.
Fleet utilization remained high (~99%), with an average of 12.0 vessels in Q2 earning an average TCE of $10,428/day (H1 average TCE $8,761/day, down sharply from 2024). Liquidity and capital items: unrestricted and restricted cash totaled about $11.4 million as of June 30, 2025, outstanding debt was $102.1 million, and scheduled debt repayments over the next 12 months were approximately $12.7 million. The company used about $5.3 million to repurchase 334,674 shares under its ongoing share buyback program and sold M/V Tasos for demolition, generating proceeds that produced a $2.1 million gain.