Euroseas launches 2-year charter contract for feeder containership M/V Monica

Seeking Alpha News (Mon, 07-Apr 4:26 PM)

  • Euroseas (NASDAQ:ESEA) on Monday announced a new time charter contract for its 1,800 TEU feeder containership, M/V Monica for a minimum period of 24 to a maximum period of 26 months, at the option of the charterer, at a gross daily rate of $23,500.
  • The new charter period is expected to commence around the end of April to mid-May 2025.
  • Aristides Pittas, chairman and CEO of Euroseas said, "This charter is expected to generate approximately $12.1 million in EBITDA over the minimum contracted period and increase our charter coverage for 2025 to about 94%, and for 2026 to about 58%, respectively.”
  • ESEA -4.37% after hours to $26.9.
  • Source: Press Release