Euroseas Ltd. has signed new time charter contracts for two of its 4,253 TEU intermediate containerships: M/V Synergy Antwerp and M/V Synergy Keelung.
Both charters are for a minimum of 36 months and a maximum of 39 months, at the charterer’s option, with a gross daily rate of $35,500.
According to Euroseas, M/V Synergy Antwerp’s charter will begin after its current charter is completed, which is scheduled to be in May 2025, and M/V Synergy Keelung’s charter will begin after its current charter is completed, which is expected in June 2025.
READ: Euroseas announces new charter for its older and spin-off containerships
Aristides Pittas, Chairman and CEO of Euroseas, said: “We believe that charterers are willing to secure tonnage well in advance at very firm periods and rates, driven by the tight supply of feeder and intermediate containership vessels.
“This is largely due to their very limited orderbook and the fact that a large percentage of their fleet is older than 20 years.
“These specific contracts are expected to contribute approximately $57 million in EBITDA over the minimum contracted period, increasing our 2025 charter coverage to about 82 per cent, and our charter coverage for 2026 to about 45 per cent.”
