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Euroseas Ltd has agreed new forward charter contracts for three of its modern 2,800-TEU containerships, reported LA's Globe Newswire. The vessels M/V Leonidas Z, M/V Gregos and M/V Terataki will be fixed for 35 to 37 months at a gross daily rate of US$30,000, starting in 2026 after current charters end.
The Athens-based company said the deals underline strong demand in the feeder container segment. Chairman and CEO Aristides Pittas noted the charters were secured with a top-tier operator at profitable rates, ensuring revenue visibility through 2029.
Mr Pittas said the contracts are expected to generate about $75 million of EBITDA over the minimum period. He added the agreements will raise Euroseas' charter coverage to 82.5 per cent in 2026, 66.5 per cent in 2027 and 42 per cent in 2028, supporting further growth plans.
Euroseas was formed in 2005 under Marshall Islands law to consolidate the Pittas family's shipping interests. The firm trades on the NASDAQ Capital Market under the ticker ESEA and operates in the container shipping sector.
The company's fleet numbers 21 vessels, including 15 feeder and six intermediate containerships with total capacity of 61,144 TEU. After four new intermediate ships are delivered in 2027 and 2028, the fleet will expand to 25 vessels with capacity of 79,080 TEU.
https://www.shippingazette.com/news?news_id=9251200000341
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