Euroseas Ltd. Announces 3-Year Forward Charter Contracts for Three of its Modern 2,800 TEU Containerships

Core Viewpoint - Euroseas Ltd. has secured new charter contracts for three modern fuel-efficient container vessels, indicating strong demand in the feeder container segment and enhancing revenue visibility through 2029 [1][2]. Charter Contracts - The new charters are for a minimum of 35 months and a maximum of 37 months, with a gross daily rate of $30,000 [1]. - The charters are expected to generate approximately $75 million in EBITDA over the minimum contracted period [2]. Revenue and Earnings Visibility - The new contracts will increase charter coverage for 2026, 2027, and 2028 to approximately 82.5%, 66.5%, and 42% respectively [2]. - The contracts are set to commence after the redelivery of current charters in the first three quarters of 2026 [1]. Fleet Profile - Euroseas operates a fleet of 21 vessels, including 15 feeder containerships and 6 intermediate containerships, with a total cargo capacity of 61,144 TEU [8]. - After the delivery of four new intermediate containerships in 2027 and 2028, the fleet will expand to 25 vessels with a total capacity of 79,080 TEU [8]. Company Background - Euroseas Ltd. was established in 2005 and is listed on NASDAQ under the ticker ESEA, focusing on container shipping and managed by Eurobulk Ltd. [6][7].