ATHENS, Greece, Aug. 25, 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 that it has signed a contract for the construction of two additional modern fuel-efficient 4,300 teu container vessels to be built at Jiangsu New Yangzi Shipbuilding CO., in China. The vessels are scheduled to be delivered in March and May of 2028. The total considerat ...

Summary of Container Shipping & Shipbuilding Insights Industry Overview - The container shipping and shipbuilding sectors are experiencing increased confusion regarding demand dynamics, with mixed signals about whether demand is strong or weak, pent-up or front-loaded [2][6][8] - Maersk has reported robust demand outside the US, while the US market remains cautious due to tariff uncertainties [2][20] - ICTSI has observed no evidence of cargo front-loading at its ports, complicating the understanding of demand patterns [2][6] Key Companies and Financial Outlook Maersk - Maersk raised its guidance due to strong demand outside North America, expecting global container market volume growth of 2-4% [20][31] - Financial guidance was increased by 17% at the mid-point, with EBITDA raised to US$8-9.5 billion and EBIT raised to US$2-3.5 billion [20][31] ONE - ONE cut its FY25 outlook due to reliance on volatile US routes, lowering EBITDA to US$2.6 billion from US$2.9 billion [21][33] COSCO - COSCO's 1H25 net profit is expected at RMB 18.8 billion, an 11% increase year-over-year [6][38] - Price targets for COSCO have been raised to HKD 21 for COSCO-H and RMB 24 for COSCO-A [6][38] OOIL - OOIL reported a 4.4% year-over-year increase in overall lifting volume for 1H25, with a net profit preview of USD 840 million, up 1% year-over-year [39] Evergreen Marine - Evergreen Marine's 1H25 net profit is expected to see a 2% year-over-year increase, with a price target raised to TWD 352 [6][40] Demand Dynamics - Global container demand grew by 2.6% year-over-year in June, supported by strong Asia-Europe trades [6][8] - Chinese exports in July 2025 rose 7.2% year-over-year, driven by manufacturers rushing to meet tariff deadlines [22][23] Geopolitical and Economic Factors - The Red Sea crisis continues to absorb industry capacity, impacting shipping routes and contributing to port congestion [14][15][28] - USTR 301 tariffs are influencing industry strategies, with Maersk indicating it will not charge customers fees related to these tariffs [16][20] Inventory Levels and Market Sentiment - The US inventory-to-sales ratio indicates increased inventory levels due to pre-stocking activities, with the Logistics Managers' Index (LMI) showing a decline in inventory levels [12][13] - The US market is adopting a "wait-and-see" approach due to tariff uncertainties, which may lead to a spike in demand as tariff deadlines approach [9][10] Challenges and Opportunities - Port congestion remains a significant challenge, particularly in Europe, due to underinvestment in capacity [14][27] - The ongoing geopolitical uncertainties present both risks and opportunities for investment in shipping stocks with strong exposure to non-US markets [23][30] Conclusion - The container shipping and shipbuilding sectors are navigating a complex landscape characterized by mixed demand signals, geopolitical uncertainties, and evolving market dynamics. Companies like Maersk, COSCO, OOIL, and Evergreen Marine are adapting their strategies to leverage opportunities while managing risks associated with tariffs and global trade disruptions.

Earnings Presentation Quarter Ended June 30, 2025 1 August 13, 2025 0 – 111 – 234 0 – 61 – 128 217 – 44 – 43 192 – 0 – 0 217 – 217 – 217 220 – 230 – 242 242 – 242 – 242 154 – 172 – 204 Forward-Looking Statements Statements in this presentation may be "forward-looking statements" within the meaning of federal securities laws. The matters discussed herein that are forward-looking statements are based on current management expectations that involve risks and uncertainties that may result in such expectations n ...

Core Insights - Euroseas Ltd. reported strong financial results for the second quarter and first half of 2025, with adjusted earnings per share reaching $4.23 and $7.99 respectively, despite a slight decrease in net revenues compared to the previous year [5][7][22][30]. Financial Highlights - **Second Quarter 2025**: Total net revenues were $57.2 million, a 2.5% decrease from $58.7 million in Q2 2024. Net income was $29.9 million, down from $40.7 million in the same period last year. The average time charter equivalent rate was $29,420 per day, down 7.0% from $31,639 per day in Q2 2024 [7][11][20]. - **First Half 2025**: Total net revenues increased by 7.7% to $113.6 million from $105.4 million in the first half of 2024. Net income rose to $66.8 million from $60.8 million in the same period last year. The average time charter equivalent rate was $28,468 per day, down from $29,836 per day in the first half of 2024 [22][30]. Operational Performance - The company operated an average of 22.0 vessels in Q2 2025, compared to 21.26 vessels in Q2 2024. For the first half of 2025, the average was 22.83 vessels, up from 20.43 vessels in the same period of 2024 [11][22][35]. - Daily vessel operating expenses averaged $6,700 per vessel per day in Q2 2025, slightly higher than $6,612 in Q2 2024. General and administrative expenses also increased to $694 per vessel per day from $581 in the same quarter last year [9][10][35]. Market Outlook - The containership market is experiencing upward momentum, with long charter commitments from high-quality charterers. The company has nearly 90% charter coverage at profitable rates for the next twelve months [5][6]. - Challenges remain due to supply growth, with the orderbook representing almost 30% of the fleet. However, the feeder and intermediate segments, where Euroseas operates, are expected to see a shrinking fleet size, providing a competitive advantage [6][8]. Shareholder Returns - The company declared a quarterly dividend of $0.70 per share for Q2 2025, maintaining an annualized yield above 5.5%. The board also approved a share repurchase program, having repurchased 463,074 shares for approximately $10.5 million since May 2022 [7][8][30].

Company Overview - Euroseas Ltd. is an owner and operator of container carrier vessels, providing seaborne transportation for containerized cargoes [6] - The company was formed on May 5, 2005, under the laws of the Republic of the Marshall Islands, consolidating the ship owning interests of the Pittas family, which has been in the shipping business for over 140 years [6] - Euroseas trades on the NASDAQ Capital Market under the ticker ESEA and operates in the container shipping market [6] Fleet and Operations - Euroseas operates a fleet of 22 vessels, including 15 Feeder containerships and 7 Intermediate containerships, with a total cargo capacity of 67,494 TEU [6] - The company employs its vessels on spot and period charters and through pool arrangements [6] - After the delivery of two intermediate containership newbuildings in the fourth quarter of 2027, the fleet will consist of 24 vessels with a total carrying capacity of 76,094 TEU [6] Financial Results Announcement - Euroseas will release its financial results for the second quarter ended June 30, 2025, on August 13, 2025, before market opens in New York [1] - A conference call and webcast will be hosted by the company's management on the same day at 9:00 a.m. Eastern Time to discuss the results [1] Conference Call Details - Participants should dial into the call 10 minutes before the scheduled time using specific numbers provided for US Toll-Free and International Dial In [2] - An option to register for the call using a "call me" feature is available for faster connection [3] - A live and archived webcast of the conference call, along with accompanying slides, will be available on the company's website [4][5]

Core Viewpoint - EuroHoldings Ltd. is set to release its financial results for the second quarter ended June 30, 2025, on August 12, 2025, before the market opens in New York [1] Company Overview - EuroHoldings Ltd. was formed on March 20, 2024, under the laws of the Republic of the Marshall Islands, as a holding company for three subsidiaries contributed by Euroseas Ltd. effective January 1, 2025 [6] - The company began trading on NASDAQ Capital Market under the ticker EHLD on March 17, 2025, following a spin-off from Euroseas [6] - EuroHoldings operates in the container shipping market and manages its operations through Eurobulk Ltd., which is responsible for the day-to-day management of the vessels [6] - The company has a fleet of 2 Feeder container carriers with a total carrying capacity of 3,171 TEU [6] Conference Call Details - A conference call and webcast will be held on August 12, 2025, at 10:00 a.m. Eastern Time to discuss the financial results [1] - Participants can join the call by dialing 877 405 1226 (US Toll-Free) or +1 201 689 7823 (International) and should quote "EuroHoldings" to the operator [2] - An audio webcast of the conference call will be available live and archived on the company's website [4]

Financial Data and Key Metrics Changes - Earnings and cash flow have continued to rise, while gross debt has increased relative to year-end 2024 due to the addition of four vessels to the fleet, although gross debt is down from one year ago [14][15] - The cash position is $511 million, with $80 million restricted, ensuring coverage for covenants, working capital needs, and unexpected contingencies [15] - The company completed an $85 million refinancing, pushing the weighted average debt maturity to 4.9 years and reducing the weighted average cost of debt to 4.18% [15][17] - Net debt to EBITDA is now at 0.7 times, indicating a reduction in financial leverage [16] Business Line Data and Key Metrics Changes - The company has secured nearly $400 million of additional charter coverage in the first half of the year, effectively closing out any 2025 market exposure and bringing 2026 coverage to 80% [5] - As of June 30, the company has $1.73 billion in forward contracted revenues with an average remaining contract cover of 2.1 years [9] Market Data and Key Metrics Changes - The global container shipping industry continues to face uncertainty and volatility due to tariffs, trade disruptions, and geopolitical tensions, impacting supply chain efficiency [5] - Approximately 10% of global containership capacity is currently absorbed by routing around the Cape of Good Hope instead of transiting through the Red Sea [19] - The order book for the segments where the company operates is at 12%, with a median age of vessels under 10,000 TEUs rising to 17.5 years [24] Company Strategy and Development Direction - The company is focused on maximizing optionality to manage risks and capitalize on opportunities in an unpredictable market, while reinforcing its balance sheet and selectively investing in its fleet [10][29] - The strategy includes opportunistically selling older ships to crystallize high values and provide capital for fleet renewal [6][30] - The company aims to maintain a strong cash flow from multi-year contracts to support its priorities [10] Management's Comments on Operating Environment and Future Outlook - Management noted that the charter market remains strong, with breakeven rates under $9,400 per vessel per day, allowing for continued free cash flow generation even in a weaker market [29] - The company is well-positioned to take advantage of opportunities that may arise from market corrections due to geopolitical and regulatory uncertainties [29] Other Important Information - The annualized dividend payment has been increased to $2.1 per common share, reflecting the company's commitment to providing attractive total returns to shareholders [6][30] - The company has a further $33 million under buyback authorization to enhance equity value [15] Q&A Session Summary Question: Freight rates are softening; is there still a positive disconnect between freight rates and charter rates? - Management confirmed that charter rates remain firm despite downward pressure on freight rates in the Transpacific, with more buoyant markets such as Asia-Europe [35] Question: Is there interest in longer durations for vessels up for recharter? - Management indicated there is appetite for multiyear charters, particularly for midsize and smaller tonnage, but not necessarily longer durations [36] Question: What is driving the recent interest in smaller ships? - Management noted a growing recognition that the midsize and smaller segments are underbuilt, but long-term charters remain challenging, keeping speculative orders limited [41] Question: Are asset values remaining firm despite the air pocket in freight rates? - Management confirmed that asset prices remain attractive, and they have sold older assets opportunistically to generate more capital [46][47]

Core Points - Euroseas Ltd. announced the results of its 2025 Annual General Meeting, where key proposals were approved by shareholders [1] - The company operates in the container shipping market and has a fleet of 22 vessels with a total cargo capacity of 67,494 teu, which will increase to 24 vessels and 76,094 teu by the end of 2027 [1] Proposal Approvals - Mr. George Taniskidis and Mr. Apostolos Tamvakakis were re-elected as Class C Directors for a term of three years until the 2028 Annual Meeting of Shareholders [2] - Deloitte Certified Public Accountants, S.A. was approved as the independent auditors for the fiscal year ending December 31, 2025 [2]

Group 1: COSCO SHIPPING Holdings Co., Ltd. (CICOY) - The company has seen a 7.4% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - It has a dividend yield of 12.9%, significantly higher than the industry average of 2.1% [1] Group 2: Clipper Realty Inc. (CLPR) - The company has experienced a 21.3% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - It offers a dividend yield of 9.8%, compared to the industry average of 4.8% [2] Group 3: Invesco Ltd. (IVZ) - The company has witnessed an 8.9% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] Group 4: General Dividend Information - A Zacks Rank 1 company has a dividend yield of nearly 5%, which is above the industry average of nearly 3% [3]

Group 1: Yara International ASA - Yara International ASA (YARIY) is a global provider of fertilizers and industrial solutions [1] - The company has a Zacks Rank of 1 and a Value Score of A [1] - The Zacks Consensus Estimate for its current year earnings has increased by 10.1% over the last 60 days [1] - Yara has a price-to-earnings ratio (P/E) of 10.26, significantly lower than the industry average of 17.60 [1] Group 2: COSCO SHIPPING Holdings Co., Ltd. - COSCO SHIPPING Holdings Co., Ltd. (CICOY) operates in container shipping and terminal operations [2] - The company holds a Zacks Rank of 1 and a Value Score of A [2] - The Zacks Consensus Estimate for its current year earnings has risen by 7.4% over the last 60 days [2] - COSCO SHIPPING has a P/E ratio of 6.75, compared to the industry average of 16.10 [2] Group 3: Fairfax Financial Holdings Limited - Fairfax Financial Holdings Limited (FRFHF) is involved in property and casualty insurance and investment management services [3] - The company carries a Zacks Rank of 1 and a Value Score of A [3] - The Zacks Consensus Estimate for its current year earnings has increased by 14.4% over the last 60 days [3] - Fairfax Financial has a P/E ratio of 8.84, lower than the industry average of 10.80 [3]