Nasdaq-listed Greek boxship owner Euroseas has entered a time charter contract for a newbuilding feeder boxship currently under construction.
Euroseas won a charter for the 1,800 teu Stephania K for a minimum period of 23 to a maximum period of 25 months at the charterer’s discretion, at a gross daily rate of $22,000.
The new charter with the undisclosed client will begin on June 28, 2024, upon delivery of the vessel from the shipyard.
According to the company, this charter is expected to contribute about $11m of EBITDA for the minimum contracted period. Also, it boosts Euroseas’ 2024 charter coverage to about 90%.
“We are pleased to announce that we have chartered our upcoming newbuilding vessel, the sixth in a series of nine and second of our three 1,800 teu units, with one of the largest liner companies,” said Aristides Pittas, chairman and CEO of Euroseas.
The Greek firm has a fleet of 22 vessels on the water and an additional four under construction the last of which will be delivered in the fourth quarter of 2024.
