EuroDry Ltd. has signed an agreement with Hengli Shipbuilding (Dalian) to build a third 82,000 DWT Kamsarmax bulk carrier, at a total cost of roughly $37.0 million. The vessel will be constructed to an eco-design specification meeting EEDI Phase 3 standards, with delivery scheduled for the third quarter of 2029. Funding will come through a combination of debt and equity, and completion of the contract is subject to EuroDry obtaining a refund guarantee from a bank acceptable to the company. According to TrustedDocks orderbook data, the order was reported on 14 October 2026 and the vessel will run on conventional fuel. Aristides Pittas, EuroDry's Chairman and CEO, said five-year-old modern Kamsarmaxes are currently valued at or above newbuilding prices, making new tonnage the more economical option since it provides a more fuel-efficient vessel for comparable or lower capital cost. The order brings EuroDry's newbuilding program to five vessels, lowering the average age of its fleet and strengthening its position in a market increasingly focused on fuel efficiency and environmental performance. EuroDry currently operates 11 drybulk carriers with a combined capacity of 766,420 dwt, comprising three Panamax, five Ultramax, two Kamsarmax and one Supramax vessel. With two Ultramax ships due in 2027 and three Kamsarmax vessels arriving in 2028 and 2029, the fleet is set to expand to 16 ships totaling 1,139,420 dwt. EuroDry was established in 2018 under Marshall Islands law as a spin-off of Euroseas Ltd.'s drybulk fleet and trades on NASDAQ under the ticker EDRY, with vessels managed by Eurobulk Ltd. and Eurobulk (Far East) Ltd. Inc.