ATHENS, Greece, July 23, 2024 (GLOBE NEWSWIRE) -- Euroseas Ltd. (NASDAQ:ESEA, the "Company" or "Euroseas"))), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today a new time charter contract for its 1,740 feeder containership, EM Spetses, for a minimum period of 18 to a maximum period of 20 months at the option of the charterer, at a gross daily rate of $18,100. The charter for EM Spetses will commence in early August 2024, upo ...

ATHENS, Greece, July 08, 2024 (GLOBE NEWSWIRE) -- Euroseas Ltd. (NASDAQ: ESEA, the "Company" or "Euroseas"), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today a new time charter contract for its feeder containership, M/V Joanna, built in 1999 with capacity of 1732 teu, for a minimum period of 23 to a maximum period of 25 months at the option of the charterer, at an average gross daily rate of $16,500. The charter for M/V Joa ...

In addition, the Company announced that its M/V EM Astoria, a 2,788 teu feeder containership vessel built in 2004, was successfully delivered to its new owners on June 26, 2024. As previously announced, the vessel was sold for approximately $10 million, resulting in a gain on sale of more than $5.5 million or about $0.80/share and having contributed to the Company total earnings of about $42.8 million since its acquisition in 2017. "We are also pleased to welcome M/V Stephania K in our fleet. The vessel is ...

ATHENS, Greece, June 18, 2024 (GLOBE NEWSWIRE) -- Euroseas Ltd. (NASDAQ: ESEA, the "Company" or "Euroseas"), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today it has entered into a time charter contract for M/V Pepi Star, a newbuilding fuel efficient 1,800 teu feeder containership currently under construction, 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 ...

Core Viewpoint - Euroseas Ltd. has entered into a time charter contract for the M/V Pepi Star, a newbuilding fuel-efficient 1,800 teu feeder containership, at a gross daily rate of $24,250 for a minimum of 23 months, indicating a strengthening charter market [1][7]. Company Overview - Euroseas Ltd. operates in the container shipping market and is managed by Eurobulk Ltd., which handles the commercial and technical management of the vessels [3]. - The company was formed on May 5, 2005, under the laws of the Republic of the Marshall Islands and trades on NASDAQ under the ticker ESEA [10]. Fleet Profile - After the delivery of the M/V Pepi Star, Euroseas will have a fleet of 22 vessels, including 15 feeder containerships and 7 intermediate containerships, with a total cargo capacity of 66,261 teu [11]. - The fleet will expand to 26 vessels with a total carrying capacity of 75,461 teu after the delivery of four remaining feeder containership newbuildings in 2024 [11]. Financial Impact - The new charter for the M/V Pepi Star is expected to contribute approximately $12.3 million of EBITDA for the minimum contracted period, increasing the company's remaining 2024 charter coverage to 91% [7]. - The charter rate of $24,250 represents a 10% increase compared to the rate for its sister vessel, M/V Stephania K, which was fixed at $22,000 just a week prior [7]. Market Context - The charter market for containerships has shown continuous strengthening over the last few months, as evidenced by the increasing rates for new charters [7].

ATHENS, Greece, June 10, 2024 (GLOBE NEWSWIRE) -- Euroseas Ltd. (NASDAQ: ESEA, the "Company" or "Euroseas"), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today it has entered into a time charter contract for M/V Stephania K, a newbuilding fuel efficient 1,800 teu feeder containership currently under construction, for a minimum period of 23 to a maximum period of 25 months at the option of the charterer, at a gross daily rate ...

ATHENS, Greece, June 10, 2024 (GLOBE NEWSWIRE) -- Euroseas Ltd. (NASDAQ: ESEA, the "Company" or "Euroseas"), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today it has entered into a time charter contract for M/V Stephania K, a newbuilding fuel efficient 1,800 teu feeder containership currently under construction, for a minimum period of 23 to a maximum period of 25 months at the option of the charterer, at a gross daily rate ...

Thierry Dosogne ESEA Is In A Good Way Over the past year, the broader equity markets have been resilient enough, delivering returns of 28%. But how about the performance of Euroseas Ltd. (NASDAQ:ESEA), a Greek shipping entity that operates in the containership space? During the same period, ESEA has ended up trouncing the total stock market by around 3.8x. BIMCO However, what's key to note is that ESEA is unlikely to face the same supply-side pressures as its larger peers, as its fleet only consists of feed ...

I kindly draw your attention to Slide #2 on the webcast presentation. which has the full forward-looking statement, and the same statement was also included in the press release. Please take a moment to go through the whole statement and read it. Aristides Pittas Let's turn to Slide 3 of the presentation. to go over our income statement highlights. For the first quarter of 2024, we reported total net revenues of $46.7 million and the net income of $20 million or $2.87 per diluted share. Adjusted net income ...

Euroseas Ltd. (ESEA) came out with quarterly earnings of $2.66 per share, missing the Zacks Consensus Estimate of $3.02 per share. This compares to earnings of $3.09 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -11.92%. A quarter ago, it was expected that this company would post earnings of $3.85 per share when it actually produced earnings of $3.61, delivering a surprise of -6.23%. Over the last four quarters, the company ...