Brokers say the Aristides Pittas-led company has taken the 72,700-dwt Oriental Sun (built 1998) from Joong Ang Shipping of South Korea.

A figure of $10.8m is being placed on the Sasebo-built ship, which appears set to replace the 69,700-dwt Irini (built 1988), which was sold for demolition a couple of months ago.

Attempts to reach Euroseas for comment on the reported buy were not immediately successful at the time of writing today.

As TradeWinds reported in August Pittas told analysts that the sale was part of an effort to take advantage of a prime market to replace vessels.

Pittas noted Euroseas had $15m to $20m of liquidity to deploy.

According to Clarksons’ data, the deal would take the Euroseas bulker fleet to five vessels and its total portfolio to 15 ships.