EuroDry reports Q3 net loss of $0.7m, secures new financing

Adjusted EBITDA for the quarter was $4.1 million, up from $0.5 million in the prior-year period. The company’s fleet of 12 vessels earned an average Time Charter Equivalent (TCE) rate of $13,232 per day during the quarter, comparable to the $13,105 per day earned in Q3 2024.

Aristides Pittas, Chairman and CEO, commented, “During the third quarter of 2025 as well as during the month of October and the beginning of November of 2025, the drybulk market continued improving...Our results for the third quarter do not reflect this improvement since the majority of our charters had been finalized earlier at lower market levels.”