Greek boxship owner Euroseas has penned a new contract with Hyundai Mipo Dockyard for the construction of three 1,800 teu LNG-ready eco-design feeder containerships, taking its orderbook at the South Korean yard to seven ships.
The Nasdaq-listed company is paying approximately $102m for the trio set to deliver during the first half of 2024, one in the first and two in the second quarter of the year. Euroseas also has a quarter of 2,800 teu boxships under construction at Hyundai Mipo, expected to deliver in 2023 and 2024.
Aristides Pittas, chairman and CEO of Euroseas, commented: “This order continues our strategy to further grow Euroseas in a manner that exploits the relative attractiveness of the newbuilding prices as compared to the price of secondhand vessels; furthermore, it builds on our commitment of having an environmentally friendly fleet and contributing to the de-carbonisation effort of our industry. In a quite turbulent and uncertain economic and geopolitical environment, we remain very optimistic about the prospects of the container market.”
Euroseas currently has a fleet of 16 ships, comprising of 10 feeder and six intermediate containerships. On a fully-delivered basis, Euroseas’s fleet will increase to 23 containerships with a cargo capacity of about 66,971 teu.