Greek ship owner Euroholdings reported net income of $4.3 million on net revenue of $8.6 million for the second quarter ended June 30, up from net income of $800,000 on revenue of $2.9 million in the same period of 2025.
The company attributed the improvement to operating three vessels during the quarter, compared with two a year earlier, as well as higher charter rates.
For the first six months of 2026, net revenue reached $16.2 million and net income stood at $6.7 million, compared with $5.8 million and $11.9 million respectively in the prior-year period. The 2025 result included a $10.23 million gain from the sale of container carrier Diamantis P.
Daily vessel operating expenses averaged $6,957 per vessel in the second quarter, down slightly from $7,184 per day a year earlier.
Related-party management fees for the container vessels increased from €850 ($980) to €875 per vessel per day from January 1, reflecting inflation adjustments and exchange rate movements.
Chief Financial Officer Athina Atalioti said average daily time charter equivalent rates increased 69.6 per cent to $28,039 per vessel during the quarter.
Euroholdings expects to take delivery of a medium-range product tanker from a related party of Marla Investments by September following delays in discharging.
The acquisition will be funded through internal cash and debt financing, including a $10 million loan secured against two containerships.
Eurobulk manages the company's containerships, while Latsco Marine Management handles the tanker acquired in late 2025. As of June 30, outstanding debt stood at $19.2 million, compared with approximately $10.9 million in cash and restricted cash.