Euroseas in for feeder boxship trio at Hyundai Mipo

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.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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