Euroseas has sealed a new charter for 2001-built 5600 ten container vessel Akinada Bridge with an unnamed party.
The charter is for a minimum of ten month, and up to 13 months, at a rate of $16,500 per day. It is set to commence upon completion of the vessel’s special survey and drydocking as well as the installation of a water ballast treatment system.
Aristides Pittas, chairman and CEO of Euroseas, commented: “The strength of the intermediate size containership market has provided us with an opportunity to charter our only non-feeder vessel at rates that justified the investment required to complete the fourth special survey of the vessel and installation of a BWT plant. After the completion of the announced charter, we expect to have the vessel available for employment until its fifth special survey due date, i.e. for four additional years, with minimal incremental investment required beyond its operating cost.
“We are cautiously optimistic about the prospects of the containership market across all segments as fleet growth over the next couple of years is expected to be low by recent trends. Thus, we believe that Akinada Bridge will be a significant contributor to our cash flow after the completion of the charter.”