Greek boxship owner Euroseas has re-fixed its smallest and oldest vessel on a long-term charter at close to 257% of the previous rate.
The 25-year-old, 1,439 teu Aegean Express is set to commence its new charter in early April this year, fetching $41,000 per day for a period of 36 to 39 months. The contract is in direct continuation of the present charter with an unnamed client at $11,500 per day.
Aristides Pittas, chairman and CEO of Euroseas, commented: “The daily rate of this charter is near the highest rate levels achieved by any vessel in our fleet for a three-year contract and highlights the strength of the containership markets.”
The Nasdaq-listed company said the 1997-built Panama-flagged ship is expected to contribute over $32m of EBITDA throughout the charter. The contract is said to increase Euroseas’ charter coverage for 2022 to about 96% and charter coverage for 2023 and 2024 to about 67% and 45%, respectively.