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Corporate Structure
Euroseas owns its fifteen vessels through fifteen separate wholly-owned subsidiaries. The operations of the vessels are managed by Eurobulk, an affiliated company, under management contracts with each ship-owning company. These services include technical management, such as managing day-to-day vessel operations including supervising the crewing, insuring the fleet, supplying, maintaining and drydocking of vessels, commercial management regarding identifying suitable vessel charter opportunities and certain accounting services.
The names of the wholly owned subsidiaries that own each vessel and the vessel each owns are as follows:
| |
Owner |
Country of Incorporation |
Vessel Name |
Flag |
| 1 |
Diana Trading Ltd. |
Republic of Marshall Islands |
IRINI |
Marshall Islands |
| 2 |
Alterwall Business Inc. |
Republic of Panama |
NINOS |
Panamanian |
| 3 |
Allendale Investments S.A. |
Republic of Panama |
KUO HSIUNG |
Panamanian |
| 4 |
Xenia Internatioanl Corp. |
Republic of Marshall Islands |
ANKING |
Marshall Islands |
| 5 |
Prospero Maritime Inc. |
Republic of Marshall Islands |
ARISTIDES N.P. |
Marshall Isalnds |
| 6 |
Xingang Shipping Ltd. |
Republic of Liberia |
MARINOS |
Liberian |
| 7 |
Manolis Shipping Ltd. |
Republic of Marshall Islands |
MANOLIS P |
Marshall Isalnds |
| 8 |
Eternity Shipping Company |
Republic of Marshall Islands |
CAPTAIN COSTAS |
Marshall Isalnds |
| 9 |
Pilory Associates Corp. |
Republic of Panama |
DESPINA P |
Panamanian |
| 10 |
Tiger Navigation Corp. |
Republic of Marshall Islands |
TIGER BRIDGE |
Marshall Isalnds |
| 11 |
Noumea Shipping Ltd. |
Republic of Liberia |
MAERSK NOUMEA |
Liberian |
| 12 |
Eleni Shipping Ltd. |
Republic of Liberia |
ELENI P |
Liberian |
| 13 |
Saf-Concord Shipping Ltd. |
Republic of Liberia |
MONICA P |
Liberian |
| 14 |
Pantelis Shipping Ltd. |
Republic of Malta |
PANTELIS |
Malta |
| 15 |
Aggeliki Shipping Ltd. |
Republic of Liberia |
AGGELIKI P |
Liberian |
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