EuroDry Ltd. EDRY

What this company does

The company's fleet consists of drybulk carriers that transport iron ore, coal, grain and other dry cargoes along worldwide shipping routes. During 2023, 2024 and 2025, the company had a fleet utilization of 97.9%, 98.8% and 99.0% respectively, and an average number of vessels of 10.6, 13.0 and 12.0 respectively, its vessels achieved daily time charter equivalent rates of $12,528, $13,039 and $11,642 respectively, and it generated time and voyage charter revenues of $50.43 million, $64.79 million and $55.64 million respectively. The company's business strategy is focused on providing consistent shareholder returns by carefully selecting the timing and the structure of its investments in drybulk vessels and by reliably, safely and competitively operating the vessels it owns, through its affiliates, Eurobulk and Eurobulk FE. Representing a continuous shipowning and management history that dates back to the 19th century, the company believes that one of its advantages in the industry is its ability to select and safely operate drybulk vessels of any age. The company has well-established relationships with major dry bulk charterers, which it serves by carrying a variety of cargoes over a multitude of routes around the globe. Its major charterer customers during the last three years include Tongli, Oldendorff and Amaggi amongst others.

Written from the business description in EuroDry Ltd.'s annual report to the U.S. Securities and Exchange Commission, filed 28 April 2026. Every sentence was checked against that document before publication.