The future of the dry bulk freight market is uncertain, impacted by weak demand, significant geopolitical events, and evolving trade patterns.
During the announcement of EuroDry Ltd.’s financial results for the first quarter of 2025, ending March 31, chairman and CEO Aristides Pittas pointed out the challenges posed by the low freight market at this time, stating, “EuroDry was fully exposed, resulting in expectedly low quarterly results.”
Pittas further noted that uncertainty persists due to reduced demand from China, a downturn in the steel sector, a decline in thermal coal usage, and ongoing conflicts in Ukraine and Gaza.
Despite these challenges, he mentioned that the company avoids long-term charters at unprofitable rates, opting instead for short-term charter opportunities.
EuroDry is actively pursuing its share buyback program, having invested $5.3 million to repurchase 334,674 shares as part of a previously approved initiative of up to $10 million.
The company’s management is committed to a flexible strategy, exploring investment opportunities and fleet renewal. The recent sale of the M/V Tasos reflects a careful cost-benefit analysis in light of upcoming maintenance needs.
