NASDAQ-LISTED Greek box ship owner euroseas has won new time charter contracts for two of its feeder containerships.
The company said that the two extensions were awarded to the 2001-built, 2,556 TEU feeder containerships EM Corfu and Evridiki G, according to Singapore's Splash 247.
The EM Corfu has been fixed for a minimum period of 18 months and a maximum period of 20 months at a gross daily rate of US$28,000 per day while the Evridiki G has been fixed for a minimum period of 14 months and a maximum period of 16 months at a gross daily rate of $29,500 per day.
Both vessels will begin their new charters upon the completion of their current ones, expected around mid-February 2025 for the first vessel and early February 2025 for the second one.
Over the minimum contract period, the two vessels will contribute about $20 million of EBITDA and increase the company's 2025 charter coverage to over 70 per cent and its charter coverage for 2026 to about 35 per cent.
'The rates of these fixtures indicate the continuing need that liner companies have to secure feeder vessels which are likely to be in short supply given the segment's orderbook and age profile,' said Aristides Pittas, chairman and CEO of Euroseas.
SeaNews Turkey
The company said that the two extensions were awarded to the 2001-built, 2,556 TEU feeder containerships EM Corfu and Evridiki G, according to Singapore's Splash 247.
The EM Corfu has been fixed for a minimum period of 18 months and a maximum period of 20 months at a gross daily rate of US$28,000 per day while the Evridiki G has been fixed for a minimum period of 14 months and a maximum period of 16 months at a gross daily rate of $29,500 per day.
Both vessels will begin their new charters upon the completion of their current ones, expected around mid-February 2025 for the first vessel and early February 2025 for the second one.
Over the minimum contract period, the two vessels will contribute about $20 million of EBITDA and increase the company's 2025 charter coverage to over 70 per cent and its charter coverage for 2026 to about 35 per cent.
'The rates of these fixtures indicate the continuing need that liner companies have to secure feeder vessels which are likely to be in short supply given the segment's orderbook and age profile,' said Aristides Pittas, chairman and CEO of Euroseas.
SeaNews Turkey
