The prospects for the dry bulk freight market remain uncertain, due to sluggish demand, intense geopolitical developments, and changing trade habits.
The chairman and CEO of the US-listed shipping company EuroDry Ltd., Aristides Pittas, on the occasion of the announcement of the company’s financial results for the first quarter of 2025, which ended on March 31, highlighted the difficulties caused by the low level of the freight market during this period, noting that “EuroDry was fully exposed and therefore the results of the quarter were expectedly low.”
He also added that the outlook remains uncertain, due to limited demand from China, the decline in the steel industry, the decrease in the use of thermal coal and the ongoing conflicts in Ukraine and Gaza.
However, he said that the company avoids long-term charters at unprofitable levels and prefers to take advantage of short-term charter opportunities.
EuroDry continues to implement its share buyback program, having so far allocated 5.3 million dollars to repurchase 334,674 shares, within the framework of an approved plan of up to 10 million dollars.
The company’s management maintains a strategy of flexibility, seeking investment opportunities and fleet renewal, while the recent sale of the M/V Tasos is part of a cost-benefit assessment in view of planned maintenance.
