Euroseas (ESEA) said Thursday its subsidiary Euroholdings has sold and delivered its M/V Diamantis P, a 2,008 containership vessel that was built in 1998, for about $13.2 million to an unaffiliated third party.

Euroseas Chairman and Chief Executive Aristides Pittas said the company expects to record a gain of about $10.2 million, or $1.45 per share, on the sale.

He added that Euroholdings plans to use proceeds from the sale to consolidate older vessels and maximize the value realized.