EuroHoldings Ltd. Announces Successful Completion of its Spin-Off from Euroseas Ltd.
ATHENS, Greece, March 18, 2025 (GLOBE NEWSWIRE) -- EuroHoldings Ltd. (NASDAQ: EHLD) (“EuroHoldings” or the “Company”), an owner and operator of ocean-going vessels and provider of seaborne transportation, announced today that it has completed its spin-off from Euroseas Ltd. The Company’s shares commenced trading as of March 18, 2025, on the NASDAQ Capital Market under the symbol “EHLD.”
Aristides Pittas, Chairman and CEO of EuroHoldings commented: “We are extremely excited with the spin-off of Euroseas’ oldest containerships into a separate publicly listed company, EuroHoldings Ltd. We believe that this transaction will create further value for the shareholders of both Euroseas and EuroHoldings by allowing each company to pursue its own investment strategy, providing additional options to its shareholders.
“Euroseas will continue growing as a pure container owner focusing on modern fuel-efficient feeder and intermediate vessels while EuroHoldings, a company with a very solid balance sheet, no debt and contracted cash flows will look to grow by investing in older vessels in the containership and other sectors and also evaluating other maritime opportunities.”
Fleet Profile:
After the spin-off, the EuroHoldings Ltd. fleet profile is as follows:
| Name | Type | Dwt | TEU | Year Built | Employment (*) | TCE Rate ($/day) | |
| Container Carriers | |||||||
| JOANNA(*) | Feeder | 22,301 | 1,732 | 1999 | TC until Mar-26, then until Sep-26, then until Nov-26 | $19,000 $9,500 $16,500 | |
| AEGEAN EXPRESS(*) | Feeder | 18,581 | 1,439 | 1997 | TC until Nov-25 | $16,700 | |
| Total Container Carriers on the Water | 2 | 40,882 | 3,171 | ||||
Notes: (*) TC denotes time charter. Charter duration indicates the earliest redelivery date; all dates listed are the earliest redelivery dates under each TC unless the contract rate is lower than the current market rate in which cases the latest redelivery date is assumed; period to Nov-2026 is at the option of the charterer.
About EuroHoldings Ltd.
EuroHoldings Ltd. was incorporated on March 20, 2024 under the laws of the Republic of the Marshall Islands. The Company was incorporated by Euroseas Ltd. (NASDAQ: ESEA) to serve as the holding company of three of its vessel-owning subsidiaries. Shares of EuroHoldings Ltd. were distributed to Euroseas Ltd. shareholders on March 17, 2025.
EuroHoldings Ltd. is a provider of worldwide ocean-going transportation services. The Company’s operations are managed by Eurobulk Ltd. an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. The Company has a fleet of two feeder containership vessels with a cargo capacity of 40,882 dwt, or 3,171 teu.
EuroHoldings Ltd. is listed on the Nasdaq Capital Market under the symbol “EHLD”.
Forward Looking Statement
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for containerships, competitive factors in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
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| Company Contact | Investor Relations / Financial Media |
| Athina Atalioti Chief Financial Officer EuroHoldings Ltd. Messogiou Thallasis 4 & Evropis 151 24, Maroussi, Greece Tel. (+30) 211 1804005 E-mail: | Nicolas Bornozis Markella Kara Capital Link, Inc. 230 Park Avenue, Suite 1540 New York, NY 10169 Tel. (212) 661-7566 E-mail: |
