th NEW YORK, Dec. 15, 2025 /PRNewswire/ -- The 26 annual TPM, S&P Global's premier shipping and supply chain conference organized by the Journal of Commerce, will bring together senior decision-makers from across the global logistics ecosystem March 1 – 4 in Long Beach, California. TPM26: Taking Costs Out, Putting Value In underscores the urgent challenge facing shippers as rising tariff burdens drive a renewed focus on cost savings and risk mitigation—without sacrificing resilience or service quality. Acco ...

ATHENS, Greece, Dec. 09, 2025 (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 new charter contracts for three of its modern fuel-efficient 2,800 teu container vessels, M/V Leonidas Z, M/V Gregos, and M/V Terataki. All three charters will be for a minimum period of 35 to a maximum period of 37 months, at the option of the charterer, at a gross da ...

ZIM is being shopped around. The Israeli container shipping firm is considering buyout offers in the wake of a purchase proposal co-led by CEO Eli Glickman. More from Sourcing Journal A report from Israel-based business publication Globes said German ocean carrier giant Hapag-Lloyd has made an offer to acquire ZIM. However, the bid is in the initial stages and negotiations have yet to begin between the sides. Such a deal would combine the fifth and 10th largest container shipping firms worldwide by marke ...

Summary of Container Shipping Global Primer: 2026 Outlook Industry Overview - The report focuses on the container shipping industry, analyzing seven container shipping equities, with six rated as Underweight due to challenging supply and demand dynamics [2][11]. Key Points Supply and Demand Dynamics - **Capacity Adjustments**: The global container supply/demand model has been updated, with demand growth for 2026/27/28 revised down by -30/-100/-200 basis points to a 3.0% run rate, aligning closely with GDP growth expectations [4][9]. - **Supply Growth**: Effective supply growth is projected to increase from approximately 4% to 6% for 2026-2028 due to new orders. A return to Red Sea sailings in 1H26 is anticipated, but any earlier resumption could worsen overcapacity, potentially driving effective supply growth above 10% [5][119]. - **Freight Rates**: Freight rates are expected to decline further, following a temporary boost from General Rate Increases (GRI) attempts by carriers [5][11]. Long-term Trends - **Reshoring of Supply Chains**: The report highlights a shift towards reshoring, which is expected to reduce reliance on long-distance sea freight and increase demand for road freight as supply chains shorten [10][9]. - **Market Segmentation**: While some segments will continue to depend on global supply chains, the overall growth rate, particularly for long-distance shipping, is expected to slow, benefiting shorter-haul modes like trucks and rail [10][9]. Financial Outlook - **Equity Valuation**: Despite low price-to-book (P/B) multiples averaging 0.7x across the global container equity coverage, the report warns of downside risks to freight rates and earnings. The average price targets imply a -24% downside [11][134]. - **Company Ratings**: Six companies are rated Underweight (Maersk, COSCO Shipping Holding, Orient Overseas, Nippon Yusen, Mitsui OSK, Kawasaki Kisen), with one rated Equal-weight (SITC) [11][134]. Market Performance - **Container Trade Volumes**: Year-to-date global container trade volumes have increased by 4.7%, but growth rates are moderating, with a decline observed in Asia to North America routes, down -3.1% year-over-year [58][61]. - **Divergence in Trade Routes**: There is a notable divergence in container flows, with volumes from Asia to North America decreasing by -7% to -11%, while volumes to Europe have increased by over 10% [61][58]. Risks and Considerations - **Overcapacity**: The persistent oversupply in the market is a significant concern, with supply additions expected to outpace demand growth through 2027 [115][119]. - **Market Sentiment**: Investor sentiment remains cautious, with many equities already consensus underweights, reflecting the challenging fundamentals of the industry [9][11]. Conclusion - The container shipping industry faces significant challenges in the coming years, with supply growth outpacing demand and freight rates under pressure. The shift towards reshoring and changing trade routes may alter the landscape, but the overall outlook remains cautious due to persistent overcapacity and economic uncertainties.

Core Insights - The Digital Container Shipping Association (DCSA) has launched a digital tool called Identity Exchange to enhance business identity verification in the shipping and logistics sectors [1][2] - The tool aims to streamline compliance and KYC procedures, which are often slow, inconsistent, and costly, thereby reducing risks in the supply chain [2][3] - Identity Exchange has demonstrated a 95% success rate in delivering verified company data during initial use, indicating its potential to improve compliance and expedite partner onboarding [2][3] Group 1 - Identity Exchange serves as a platform providing verified company data for due diligence, allowing organizations to access up-to-date information [2] - The development of Identity Exchange involved collaboration with DCSA's founding member carriers and sector partners, ensuring alignment with operational requirements in container trade [4] - The product is accessible via web interface and API integration, with a limited trial period available for organizations interested in evaluating it [5] Group 2 - DCSA's chief product officer emphasized that Identity Exchange reflects the association's role in driving digital transformation in the industry, highlighting the need for stronger digital infrastructure [3] - DCSA views ongoing revenue from Identity Exchange as a means to support the development of open standards and solutions for the container shipping industry [5] - DCSA member representatives noted that the platform supports their strategy to provide excellent service while ensuring compliance with international regulations [6]

Financial Data and Key Metrics Changes - For Q3 2025, the company reported total net revenues of $56.9 million, a 5.1% increase from $54.1 million in Q3 2024 [22] - Net income for Q3 2025 was $29.7 million, compared to $27.6 million in Q3 2024 [22] - Adjusted EBITDA for Q3 2025 increased to $38.8 million from $36.1 million in Q3 2024 [23] - Basic and diluted earnings per share for Q3 2025 were $4.27 and $4.25, respectively, compared to $3.97 and $3.95 for the same period last year [24] - For the first nine months of 2025, total net revenues were $170.5 million, a 6.8% increase from $159.6 million in the same period of 2024 [25] - Net income for the first nine months of 2025 was $96.5 million, up from $88.4 million in the prior year [25] Business Line Data and Key Metrics Changes - The average charter rate per vessel per day increased by 10.7% in Q3 2025 compared to Q3 2024 [22] - The fleet on the water consists of 21 vessels with a total carrying capacity of 61,000 TEU and an average age of about 12 years [6] - The company has secured 100% of available days for Q3 2025 at an average rate of approximately $30,345 per day [8] Market Data and Key Metrics Changes - The Shanghai Containerized Freight Index declined to its lowest level in nearly two years by late September 2025, but stabilized and increased by 30% in October and early November [9] - The average second-hand price index rose by about 4.4% in Q3 2025 compared to Q2 2025 [9] - The global fleet expanded by 6% year-to-date, with recycling activity remaining subdued [10] Company Strategy and Development Direction - The company remains committed to a $20 million share repurchase plan, having repurchased 466,000 shares for approximately $10.5 million [4] - The company has extended charters for several vessels, indicating a focus on securing long-term contracts [5] - The company is strategically positioned with minimal risk of oversupply due to a limited new building pipeline in smaller vessel segments [18] Management's Comments on Operating Environment and Future Outlook - Management noted that the market remains fragile with downside risks stemming from persistent uncertainty and potential protectionist measures [11] - The company expects a dip in containerized trade growth to 0.7% in 2026 and a further decline of 6% in 2027 [13] - Management expressed cautious optimism regarding future profitability, supported by strong forward coverage [8] Other Important Information - The company declared a quarterly dividend of $0.70 per share for Q3 2025, reflecting an annualized yield of approximately 5% [4] - The company’s total outstanding bank debt stood at about $224 million as of September 30, 2025, with a cost of debt around 5.9% [21] Q&A Session Summary Question: Expectations for scheduled off-hire days for Q4 and 2026 - Management indicated a very light dry docking schedule with likely off-hire for Q4 being almost zero [39][40] Question: Impact of container ship ordering on rates - Management acknowledged that increased ordering could pressure rates from 2027 onward, but emphasized their strong coverage for 2027 [41][42] Question: Differences in the market pre-2020 and future expectations - Management highlighted that the previous oversupply and pandemic-related demand spikes significantly influenced market conditions [43][44] Question: Willingness to order additional tonnage - Management stated there is always a possibility to order more vessels, but they are currently comfortable with their positioning [50] Question: Medium-term leverage target - Management indicated a general strategy to maintain leverage around 50%, adjusting based on market conditions [51]

Financial Performance - Euroseas' Q3 2025 net revenues increased by 51% to $5691 million compared to $5415 million in Q3 2024[68] - Net income for Q3 2025 rose by 75% to $2970 million, with diluted earnings per share at $425[68] - Adjusted EBITDA for Q3 2025 increased by 76% to $3881 million[68] - For the first nine months of 2025, net revenues increased by 68% to $17049 million, and net income increased by 92% to $9647 million[68] Fleet and Operations - The current fleet consists of 21 vessels with an average age of 121 years and a carrying capacity of 611k TEU[15] - Euroseas sold MV Marcos V for $500 million in October 2025[13] - The company has declared a quarterly dividend of $070 per share[10] - As of November 18, 2025, Euroseas repurchased 466374 shares for $105 million under the share repurchase plan[11] - For Q4 2025, 1000% of available voyage days have been secured at an average rate of ~$30345/day[18] - For 2026, approximately 747% of available voyage days are covered at an average rate of ~$31300/day[18] Market Overview - One-year time charter rates remained firm in Q3 2025, with average rates for feeder vessels rising by 3%[24] - The fleet has grown by 61% year-to-date[25] - The orderbook as a percentage of the fleet is 150%[41]

Core Viewpoint - Euroseas Ltd. reported strong financial results for the third quarter and the first nine months of 2025, highlighting increased revenues, net income, and earnings per share, alongside a robust chartering strategy that enhances revenue visibility and earnings stability [5][26][39]. Financial Highlights Third Quarter 2025 Financial Highlights - Total net revenues reached $56.9 million, a 5.1% increase from $54.1 million in Q3 2024 [12][14]. - Net income was $29.7 million, compared to $27.6 million in the same period last year [12][14]. - Earnings per share were $4.27 (basic) and $4.25 (diluted), up from $3.97 and $3.95 respectively in Q3 2024 [23][24]. - Adjusted EBITDA was $38.8 million, an increase from $36.1 million in Q3 2024 [13][23]. Nine Months 2025 Financial Highlights - Total net revenues for the first nine months were $170.5 million, a 6.8% increase from $159.6 million in the same period of 2024 [26]. - Net income for the period was $96.5 million, compared to $88.4 million in the first nine months of 2024 [26]. - Earnings per share were $13.90 (basic) and $13.84 (diluted), up from $12.75 and $12.66 respectively in the same period last year [39][40]. - Adjusted EBITDA for the nine months was $115.2 million, compared to $102.9 million in the first nine months of 2024 [38]. Recent Developments - The company declared a quarterly dividend of $0.70 per share for Q3 2025, payable on December 16, 2025 [5]. - Euroseas repurchased 466,374 shares for approximately $10.5 million under its share repurchase plan [5]. - The company signed forward charters for five vessels, enhancing revenue visibility with expected EBITDA contributions of approximately $183 million during the charter periods [8][10]. Operational Insights - An average of 22.0 vessels were operated in Q3 2025, earning an average time charter equivalent rate of $29,284 per day [12][14]. - The company noted a strong charter coverage of about 75% for 2026 and over 50% for 2027, providing contracted revenues well into 2032 [8][9]. - The overall containership market faces challenges, but the intermediate and feeder sectors, where Euroseas operates, are expected to benefit from an aging fleet and limited new orders [10][11]. Fleet Profile - As of November 18, 2025, Euroseas operates a fleet of 21 container carriers with a total deadweight tonnage of 786,362 and a total TEU capacity of 61,144 [41]. - The company has four vessels under construction, expected to be delivered between 2027 and 2028, with time charters already secured [41].

Core Viewpoint - Euroholdings Ltd reported improved financial results for the third quarter of 2025, with a focus on growth in the tanker sector following a strategic shift after a change in shareholder base [4][5]. Financial Highlights Third Quarter 2025 Financial Highlights - Total net revenues were $3.0 million, a 29.4% decrease from $4.2 million in Q3 2024, attributed to a reduction in the average number of vessels operating [9]. - Net income for the quarter was $1.5 million, or $0.55 earnings per share, compared to $1.0 million or $0.34 per share in Q3 2024 [12][13]. - Adjusted EBITDA was $1.4 million, up from $1.0 million in the same quarter of the previous year [9][13]. Nine Months 2025 Financial Highlights - Total net revenues for the first nine months were $8.7 million, a 27.4% decrease from $12.1 million in the same period of 2024 [15]. - Net income for the nine-month period was $13.4 million, compared to $4.7 million in the first nine months of 2024 [22]. - Adjusted EBITDA for the nine months was $3.1 million, down from $4.8 million in the same period of 2024 [23]. Recent Developments - On November 3, 2025, Euroholdings signed a Memorandum of Agreement to acquire a medium-range product tanker vessel for $31.83 million, with delivery expected in mid-November 2025 [4]. - The company formed an independent committee to evaluate the acquisition, and on November 14, 2025, signed a loan agreement for $20.0 million to finance part of the purchase [4]. - The company declared a quarterly dividend of $0.14 per share for Q3 2025, maintaining an annualized yield of about 8% [4]. Operational Insights - The average time charter equivalent rate for vessels in Q3 2025 was $16,580 per day, a 17.7% increase from $14,087 in Q3 2024 [7]. - Average daily vessel operating expenses increased to $7,902 per vessel per day in Q3 2025 from $7,431 in Q3 2024, primarily due to higher general and administrative expenses [8]. - The fleet profile includes two feeder container carriers and one product tanker, with a total carrying capacity of 90,879 dwt after the acquisition of M/V Hellas Avatar [26].

Core Points - Euroseas Ltd. will release its financial results for Q3 2025 on November 18, 2025, before market opens in New York [1] - A conference call and webcast will be held on the same day at 10:00 a.m. Eastern Time to discuss the results [2] Conference Call Details - Participants should dial in 10 minutes before the scheduled time using the provided numbers: 877 405 1226 (US Toll-Free) or +1 201 689 7823 (International) [3] - An alternative "call me" option is available for faster connection [4] - A live and archived audio webcast of the conference call will be available on the company's website [5] Presentation Information - The slide presentation for Q3 2025 will be available in PDF format minutes prior to the conference call [6] Company Overview - Euroseas Ltd. was formed on May 5, 2005, and operates in the container shipping market with a fleet of 22 vessels, including 15 Feeder and 7 Intermediate containerships [7] - The total cargo capacity of the fleet is 67,494 teu, which will increase to 76,094 teu after the delivery of two newbuildings in Q4 2027 [7]