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Greek shipping and port service company: Euroseas Ltd. (ESEA)

Euroseas Ltd. (NASDAQ: ESEA) was founded in 2005 and is headquartered in Maroussi, Greece. It has 360 full-time employees. It is a shipping and port service company that provides ocean shipping services worldwide.

Euroseas Ltd

Euroseas Ltd. (ESEA):

The history of Euroseas can be traced back to the time when the diesel engine and steam engine were invented, when the ship was still sailing (the ship was up to 1,000 tons and cost about 3,000 pounds) and it has been operated by 4 generations. According to company records, the first owner of the Pittas family was Nikolaos F. Pittas, born in 1837 on the Greek island of Chios.

The first ship owned by Nikolaos F. Pittas was Ypapanti, a wooden sailing ship weighing 700 tons, built in Chios in 1873. He became the captain of the ship, and his brother and other relatives and friends joined him as crew members. Nikolaos has been the commercial, technical and financial manager of the ship. Due to poor communication at the time, the residents of Chios’ hometown had not been there for several months, so the company had no office at that time.

Business was booming at that time, and soon NFPittas could purchase more ships. The second ship purchased was the “Sotiras”, a 780-ton ship purchased in 1876, and the first 1,000-ton ship “Chios” built in Chios in 1878. Several other ships subsequently joined.

Euroseas, Ltd. was established about a century ago and went public in 2005 as a Greek shipping company.

Euroseas operates in the global dry cargo, dry bulk and container shipping markets, and is also a supplier of dry bulk and container cargo shipping by sea. Ouhai owns and operates dry bulk carriers that transport iron ore, coal and grains, as well as bauxite, phosphate and fertilizers. Euroseas also owns and operates container ships and multi-purpose ships for dry bulk and refrigerated container cargo, which mainly transport products and perishable goods.

As of March 31, 2018 , Euroseas has launched 12 ships, including a Handymax dry bulk carrier, which has been sold and will be delivered to the new owner before June 30, 2018, and the rest are 10 Feeder containers Ship and 1 intermediate container ship. The total cargo volume of Euroseas’ 11 container ships is 25,483 teu.

Euroseas

On May 31, 2018, Euroseas Ltd. (NASDAQ: ESEA) completed the spin-off of EuroDry Ltd. (NASDAQ: EDRY) .

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