Nasdaq-listed Greek boxship owner Euroseas has entered a time charter contract for a newbuilding feeder containership currently under construction.
Euroseas won a charter for the 2,800 teu Tender Soul for a minimum period of eight to a maximum period of ten months at the charterer’s option, at a gross daily rate of $17,000.
The new charter with the undisclosed client will begin in February 2024, upon delivery of the vessel from the shipyard.
According to the company, this charter is expected to contribute about $2.4m of EBITDA for the minimum contracted period. Also, it boosts Euroseas’ 2024 charter coverage to about 70%.
“We are pleased to announce that we have chartered our upcoming newbuilding vessel, the third in a series of nine, with one of the largest liner companies, at a profitable rate level in a period when new vessel deliveries are at a historical high and, as a result, containership rates are under pressure,” said Aristides Pittas, chairman and CEO of Euroseas.
The Greek firm has a fleet of 19 vessels on the water and an additional seven under construction the last of which will be delivered in the fourth quarter of 2024.
