Euroseas announces charter contract for 2,800 TEU feeder

Euroseas announces charter contract for 2,800 TEU feeder

Euroseas Ltd. has entered a time charter contract for the M/V Leonidas Z, a newbuild fuel efficient 2,800 TEU feeder containership currently under construction.

According to Euroseas, the agreement is set for a minimum period of 23 to a maximum period of 25 months at the option of the charterer, at a gross daily rate of $20,000.

The new charter will begin when the vessel is delivered from the shipyard, which is projected to occur around the end of April or early May 2024.

READ: Euroseas settles charters for two 4,250 TEU containerships

Aristides Pittas, Chairman and CEO of Euroseas, commented: “We are pleased to announce that we have chartered our upcoming newbuilding vessel, the fourth in a series of nine, with one of the largest liner companies, at a profitable rate level of $20,000/day, exploiting the recent strength of the market both in terms of charter level and charter duration.

“This charter is expected to contribute about $9 million of EBITDA for the minimum contracted period; it increases our 2024 charter coverage to about 74 per cent.

“We are hopeful that we will be able to continue capitalising on the current strength of the market for chartering our few vessels that come open within the next quarter including the three 1,800 TEU vessels that will be delivered during this period.”

Recently, Euroseas Ltd took the delivery of the MV Tender Soul, an Eco EEDI Phase 3, 2,800 TEU feeder containership newbuild also from Hyundai Mipo Dockyard Co. in South Korea.

Daily Email Newsletter

Sign up to our daily email newsletter to receive the latest news from Port Technology International.

Supplier Directory

Find out how to get listed

Webinar Series

Find out how to attend

Latest Stories

Cookie Policy. This website uses cookies to ensure you get the best experience on our website.