Euroseas Ltd., owner and operator of a container carrier and sea transportation provider for packaged cargo, announced a new time certificate contract for 1,740 TEU feeder containers, M/V Em Hydra for a minimum period of 24 to maximum maximum period, maximum maximum period, maximum period The maximum maximum, from 26 months, on the tenant’s option, with a daily rate of $ 19,000, in a direct continuation of the current charter. The new charter period is expected to begin on May 1, 2025.
Aristides Pittas, Chairperson and CEO of Euroseas commented: “We are very happy to announce that we have extended our 20 -year -old time charter contract for M/V Em HYDRA with high -level tenants, in the direct continuation from now now from now from now from now Now the charter, for 24-26 months at a profitable level of $ 19,000. Apart from the potential reopening of the Red Sea route that can normalize the trade route, the charter market for the feeder driver remains quite tough, with the availability of limited vessels to continue to support the period and strong tariffs. This charter is expected to contribute around $ 7.3 million EBITDA during the minimum period contracted and increase the scope of the 2025 charter to around 85%, and our charter coverage for 2026 to around 50%. “
Euroseas Ltd. Formed on May 5, 2005 under the Law of the Republic of Marshall Islands to consolidate the interests that have the interests of pittas ships in Athens, Greece, who have been in the shipping business for the past 140 years. Eurosea is traded on Nasdaq Capital Market under Ticker Esea.
Euroseas operates in the container shipping market. Euroseas operations are managed by Eurobulk Ltd., an ISO 9001: 2008 and ISO 14001: 2004 affiliated ship management companies, which are responsible for commercial and daily technical management and ship operations. Euroseas uses its ship in a place and period and through the setting of ponds.
Source: Euroseas Ltd.
