Euroseas Ltd. (NASDAQ: ESEA) has reinforced its position in the container shipping market by securing long-term time charter contracts for two of its 4,253 TEU intermediate containerships, M/V Synergy Antwerp and M/V Synergy Keelung. The agreements reflect the persistent demand for feeder and intermediate-sized vessels, signaling confidence in the sector’s stability and growth.
Under the new contracts, each vessel will be chartered for a period of 36 to 39 months at a daily rate of $35,500. M/V Synergy Antwerp is set to commence its charter in May 2025, followed by M/V Synergy Keelung in June 2025. The agreements are expected to generate approximately $57 million in EBITDA over the minimum charter period, further strengthening the company’s financial outlook. With these additions, Euroseas has increased its charter coverage to 82% for 2025 and 45% for 2026.
In a strategic move to align with industry-wide sustainability efforts, Euroseas has partnered with the charterer to retrofit M/V Synergy Keelung with energy-saving devices (ESDs). This initiative underscores the company’s commitment to improving operational efficiency while reducing environmental impact. As regulatory frameworks tighten and fuel efficiency becomes a focal point, such upgrades position Euroseas at the forefront of sustainable maritime operations.
These developments mark another milestone for Euroseas as it continues to optimize fleet management and secure value-driven opportunities in a dynamic market. With a strong charter pipeline and a focus on sustainability, the company remains well-positioned for long-term growth in the evolving container shipping industry.
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