EUROSEAS, a Greek boxship owner listed on Nasdaq, has secured a time charter contract for its 4,250-TEU vessel Synergy Antwerp with an undisclosed client, reports Singapore's Splash 247.
The charter spans a minimum of 11.5 months to a maximum of 14 months at the charterer's discretion, with a gross daily rate of US$26,500.
This agreement is anticipated to generate $6.5 million in EBITDA over the contracted period and will boost Euroseas' charter coverage for 2024 to 80 per cent.
The charter commenced following the completion of scheduled drydock and special survey activities on the 2008-built vessel, along with various retrofits aimed at enhancing energy efficiency.
euroseas expects these retrofits to improve the boxship's fuel consumption by 25 per cent, resulting in an annual reduction of about 9,800 tonnes of CO2 emissions.
During the drydock period, several enhancements were made to the vessel, including the installation of a new bulbous bow, a lighter propeller, hub vortex absorption fins, pre-shrouded vanes, silicone coating on the underwater hull, LED lights, an upgraded autopilot with advanced ecology control, and an auto-controlled jacket pre-heater.
'The charter rate represents a strong increase compared to the last one, indicating the charterer's interest in more modern, energy-efficient vessels. This is the third vessel from our fleet undergoing retrofits as part of our ongoing efforts to modernise our fleet and reduce our carbon footprint,' said Euroseas CEO Aristides Pittas.
SeaNews Turkey
The charter spans a minimum of 11.5 months to a maximum of 14 months at the charterer's discretion, with a gross daily rate of US$26,500.
This agreement is anticipated to generate $6.5 million in EBITDA over the contracted period and will boost Euroseas' charter coverage for 2024 to 80 per cent.
The charter commenced following the completion of scheduled drydock and special survey activities on the 2008-built vessel, along with various retrofits aimed at enhancing energy efficiency.
euroseas expects these retrofits to improve the boxship's fuel consumption by 25 per cent, resulting in an annual reduction of about 9,800 tonnes of CO2 emissions.
During the drydock period, several enhancements were made to the vessel, including the installation of a new bulbous bow, a lighter propeller, hub vortex absorption fins, pre-shrouded vanes, silicone coating on the underwater hull, LED lights, an upgraded autopilot with advanced ecology control, and an auto-controlled jacket pre-heater.
'The charter rate represents a strong increase compared to the last one, indicating the charterer's interest in more modern, energy-efficient vessels. This is the third vessel from our fleet undergoing retrofits as part of our ongoing efforts to modernise our fleet and reduce our carbon footprint,' said Euroseas CEO Aristides Pittas.
SeaNews Turkey