Euroseas secures new time charter for 1,800 TEU vessel

Euroseas Ltd. has secured a new time charter for its 1,800 TEU feedership, M/V Monica, at $23,500 per day for 24 to 26 months, starting between late April and mid-May 2025.

According to Euroseas, the charter is projected to generate around $12.1 million in EBITDA and raise charter coverage to approximately 94 per cent for 2025 and 58 per cent for 2026.

Aristides Pittas, Chairman and CEO of Euroseas, commented: “We are very pleased to announce a new time charter contract for our feeder containership, M/V Monica, with a top-tier charterer for 24-26 months at a profitable rate of $23,500.

“Despite the various macro-economic uncertainties, this fixture highlights the continued strength of the containership charter market, with both periods and rates remaining at very healthy levels, as operators look to secure their requirements in an environment with very limited supply.”

In February, the company signed new time charter contracts for two of its 4,253 TEU intermediate containerships: M/V Synergy Antwerp and M/V Synergy Keelung.

One month later, Euroseas Ltd. secured a new time charter for its 4,250 TEU containership, M/V Rena P, for 35 to 37 months at a gross daily rate of $35,500.