Aristides Pittas, Chairman and CEO of Euroseas commented: "This transaction is an overall positive development for Euroseas and showcases our ability to take advantage of market opportunities to renew our fleet. For a nominal incremental investment, the M/V Eleni P will be replaced by a larger and younger vessel, the M/V Capetan Tassos, a 75 100 DWT 2000-built drybulk vessel, whose acquisition we announced on 23 November, 2016. We will continue positioning our fleet for a potential market recovery and exploiting investment opportunities in the present market environment."