Greek owner and operator of drybulk and container carriers Euroseas has inked an agreement to acquire an Ultramax drybulk carrier from China-based Dayang shipyard.

The 63,500dwt newbuilding Hull DY160 is forecast to be delivered in January 2017, subject to a successful inspection by the company by late December 2016.

Following delivery, the eco-ship will be named Alexandros P, Euroseas said, adding that the bulker will be acquired for some 62% of its contracted price in early 2014.

The shipping firm will apply the construction deposits already paid for Hull DY160 and a sister vessel, Hull DY 161, and contribute nominal incremental cash.

Euroseas supervised the construction of Alexandros P over the last two years.

The company said that the vessel is "a modern eco-ship incorporating the latest regulatory requirements and technological advances."

Alexandros P is a part of the company's fleet renewal strategy in anticipation of a recovery in the drybulk market.