Euroseas nearly doubled its profit with a smaller number of boxships in its fleet.
The Aristides Pittas-led company owned only 14 vessels during the first quarter, after shedding five ships last year. But it was still able to boost the bottom line as a result of higher rates and lower costs.
New York-listed Euroseas posted a $3.8m profit for the three-month period, up from a $2m profit for the same period in 2020.
