Nasdaq-listed Greek boxship owner Euroseas has entered a time charter contract for its 4,250 teu Synergy Antwerp with an undisclosed client.
The contract is for a minimum period of 11.5 to a maximum period of 14 months at the option of the charterer, at a gross daily rate of $26,500. It is expected to contribute about $6.5m of EBITDA over the minimum contracted period and increase Euroseas’ 2024 charter coverage to about 80%.
The charter began today after the 2008-built vessel completed its scheduled drydock and special survey, along with certain retrofits including the installation of several energy-saving equipment.
The company believes that the latter would improve the boxship’s consumption in the commercial speed range by about 25% and that it would emit about 9,800 tonnes of CO2 less annually.
During its stay in drydock the vessel was given a new bulbous bow, a new and lighter propeller, hub vortex absorbed fins, pre-shrouded vanes, silicone coating of the ship’s underwater parts, LED lights, an autopilot upgrade with advanced ecology control, and a jacket pre-heater auto control.
“The charter rate represents a strong increase compared to the last one, indicating the charterer’s interest in more modern, energy-efficient vessels. This is the third vessel from our fleet undergoing retrofits as part of our ongoing efforts to modernize our fleet and reduce our carbon footprint,” said Aristides Pittas, chairman and CEO of Euroseas.
The previous contract for the Synergy Antwerp was signed in December 2020. It was an extension for a period between 32 and 35 months at a daily rate of $18,000.
The Greek firm has a fleet of 20 vessels on the water and an additional six under construction, the last two of which will be delivered in the fourth quarter of 2024.
