Independent journal on economy and transport policy
13:33 GMT+1
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Record quarterly profit for Euroseas
In 2021, a marked improvement in financial performance
February 15, 2022
The fourth quarter of 2021 alone was also very positive, with base time charter revenues of $40.0 million, with a progression of +219.2% on the period October-December of the year previous. Operating profit was 14.4 million dollars (+647.9%) and net profit reached the record figure of 22.7 million dollars (+3,790.8%).
Illustrating the future prospects, the President and CEO of Euroseas, Aristides Pittas, explained that the company is "rather optimistic about the market strength over the next two years despite the wait decrease in inefficiencies in ports", optimism - he clarified - which is based on limited deliveries of new ships envisaged in the short term, on the limitations on the use of fleets that from 2023 onwards will be placed by the regulations on emissions from maritime transport and on the growth of trades that they are recovering from the pandemic period.
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The fourth quarter of 2021 alone was also very positive, with base time charter revenues of $40.0 million, with a progression of +219.2% on the period October-December of the year previous. Operating profit was 14.4 million dollars (+647.9%) and net profit reached the record figure of 22.7 million dollars (+3,790.8%).
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
