CST: 28/05/2016 22:51:30   

A Euroseas Ltd. Container Vessel Rescues 105 Migrants / Refugees

92 Days ago

MAROUSSI, ATHENS, GREECE--(Marketwired - Feb 26, 2016) -  Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today that on February 18, 2016, the crew of its container carrier, Vento di Grecale ("the vessel"), rescued 105 Somalian, Sudanese and Egyptian migrants/refugees, including three pregnant women and a number of children from an endangered wooden boat that sank in choppy waters a few minutes after rescue.

The M/V Vento di Grecale received a distress call from Malta's Marine Response Coordination Center ("MRCC Malta"), while sailing South West of Crete en route to Salerno, Italy. The ship's Captain, Rey Salcedo and crew immediately responded to the call locating the wooden boat, which was found to be holed with water leaking and secured it alongside the vessel.

Following the rescue, the crew of the vessel placed the women and children inside the ship's accommodation, while the rest of the migrants/refugees were sheltered on the main deck protected from the elements by the containerized cargo. Blankets, food and water were provided to the exhausted passengers including medical assistance to the pregnant women and those suffering from pain and ailments such as diarrhea. In coordination with MRCC Malta, the ship continued her voyage towards Messina Straits.

Frontex (European Union Agency) was notified of the successful rescue operation and dispatched a rescue boat, the Siem Pilot which met the vessel at a rendezvous position east of Sicily one day later in the afternoon of February 19, 2016. All 105 migrants/refugees were transferred safely to the rescue boat after being provided with suitable life jackets.

Aristides Pittas, Chairman and CEO of Euroseas, commented: "Euroseas would like to congratulate our Captain, Rey Salcedo, and crew of our vessel, M/V Vento di Grecale, for the professional handling of this search and rescue operation and the humanitarian service they have provided by saving 105 people from certain death. Their reaction reflects the values of all of us at Euroseas and the history of my family's 150 years presence in shipping. We also wish to thank MRCC Malta and the crew of the Frontex rescue boat 'Siem Pilot' for their assistance in coordinating this operation and finally taking ashore the refugees."

About Euroseas Ltd.

Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 136 years. Euroseas trades on the Nasdaq Capital Market under the ticker symbol ESEA.

Euroseas operates in the dry cargo, drybulk and container shipping markets. Euroseas' operations are managed by Eurobulk Ltd., an ISO 9001:2008 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements.

The Company has a fleet of 12 vessels, including 1 Kamsarmax drybulk carrier, 3 Panamax drybulk carriers and 1 Handymax drybulk carrier, 2 Intermediate containerships, 3 Handysize containerships, and 2 Feeder containerships. Euroseas 5 drybulk carriers have a total cargo capacity of 351,272 dwt, and its 7 containerships have a cargo capacity of 11,828 teu. The Company has also signed contracts for the construction of two Ultramax (63,500 dwt) fuel efficient drybulk carriers and one Kamsarmax (82,000 dwt) fuel efficient drybulk carriers. Including the three new-buildings, the total cargo capacity of the Company's drybulk vessels will be 560,272 dwt.

Forward Looking Statement
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for dry bulk vessels and container ships, competitive factors in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Visit the Company's website www.euroseas,gr

Company Contact
Tasos Aslidis
Chief Financial Officer
Euroseas Ltd.
11 Canterbury Lane
Watchung, NJ 07069
Tel. (908) 301-9091
E-mail: aha@euroseas,gr

Investor Relations / Financial Media
Nicolas Bornozis
President
Capital Link, Inc.
230 Park Avenue, Suite 1536
New York, NY 10169
Tel. (212) 661-7566
E-mail: euroseas@capitallink.com