Greek shipping company Euroseas has reported total net revenues of $45.4m in the first quarter of 2021, a 217.1% jump compared with $14.3m in the same quarter last year.
The firm’s attributable net income rose from $3.8m to $29.9m during the period, while adjusted EBITDA increased from $5.6m to $31.1m.
Its vessel operating expenses, however, increased from $6.9m to $8.4m.
The rise in expenses was said to be the result of owning and operating more vessels, resulting in a rise in crew costs due to...
https://www.ship-technology.com/news/euroseas-revenue-surges-first-quarter/