Euroseas extends EM Kea's charter at $30,000/day, marking a 60% increase, with expected $22.5 million EBITDA over 36 months.
Greece's Euroseas has extended the charter of its 3,100 TEU feeder containership EM Kea at a daily rate of US$30,000, reported Denmark's Shipping Telegraph. The new deal represents a nearly 60 percent increase over the vessel's current rate.
The charter extension covers a minimum of 36 months and a maximum of 38 months, beginning July 14, 2026. Euroseas stated that the agreement is expected to generate approximately $22.5 million in EBITDA over the minimum contracted period.
Chairman and Chief Executive Aristides Pittas remarked that the fixture highlights the shortage of prompt tonnage and the continued firmness of the containership charter market amid macroeconomic disruptions and conflicts in the Middle East. He added that the extension underscores strong collaboration and mutual confidence with the charterer.
Euroseas operates a fleet of 21 vessels, including 15 feeder and six intermediate containerships, with a combined capacity of 61,144 TEU.
Following the delivery of four intermediate and two feeder newbuildings in 2027 and 2028, the company's fleet will expand to 27 vessels with a total capacity of 84,676 TEU.
