Euroseas (ESEA) has released an update.
Euroseas Ltd. has secured a lucrative charter contract for its new eco-friendly feeder containership, the M/V Stephania K, engaging it for 23 to 25 months at a daily rate of $22,000, commencing upon vessel delivery on June 28, 2024. This deal, which is financed through a mix of own funds and a loan, is set to add approximately $11.0 million to the company’s EBITDA for the minimum charter period, significantly enhancing Euroseas’ 2024 charter coverage to 90%.
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