Euroseas signs for three new eco-design feeders

Rotterdam, the Netherlands - June 22, 2012: Close-up of a containership, operated by a privately-owned company engaged in worldwide container transport.

Euroseas has signed a contract for the construction of three 1,800 TEU eco-design fuel efficient feeder containerships.

The vessels will be built at Hyundai Mipo Dockyard Co. in Korea and are scheduled to be delivered during the first half of 2024.

The total cost of the newbuilds amounts to $102 million and the company aims to finance this with a combination of debt and equity.

“We are pleased to announce the ordering of three modern LNG-ready eco-design containerships of 1,800 TEU capacity each in one of the best quality shipbuilders in the world, the same yard where our previous orders for four 2,800 TEU vessels were placed,” said Aristides Pittas, Chairman and CEO of Euroseas.

“This order continues our strategy to further grow Euroseas in a manner that exploits the relative attractiveness of the newbuilding prices as compared to the price of second-hand vessels; furthermore, it builds on our commitment of having an environmentally friendly fleet and contributing to the decarbonisation effort of our industry.

“In a quite turbulent and uncertain economic and geopolitical environment, we remain very optimistic about the prospects of the container market. We look forward to welcoming all our seven newbuilding’s into our fleet over the next two and half years creating a fleet line-up focused on the most commercial sizes of the feeder sector.”

Euroseas signed an agreement for the construction of two 2,800 TEU vessels last month.

These vessels are also being built at Hyundai Mipo Dockyard Co. and will delivered during Q4 of 2023 and Q1 2024.

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