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Euroseas ( (ESEA) ) has provided an update.
On February 3, 2025, Euroseas Ltd. announced new 3-year charter contracts for its intermediate containerships, M/V Synergy Antwerp and M/V Synergy Keelung, both starting in mid-2025. These contracts, with a gross daily rate of $35,500 per vessel, are expected to significantly contribute to the company’s earnings, adding approximately $57 million in EBITDA over the minimum contract period. The contracts reflect strong demand for feeder and intermediate size vessels amid limited new supply and an aging fleet. Additionally, Euroseas plans to retrofit M/V Synergy Keelung with energy-saving devices, sharing costs with the charterer to enhance fuel efficiency.
More about Euroseas
Euroseas Ltd. is a company specializing in the ownership and operation of container carrier vessels, offering seaborne transportation for containerized cargoes. The company is based in Maroussi, Athens, Greece, and is listed on NASDAQ under the symbol ESEA. It focuses on the container shipping industry, particularly the market for intermediate containerships.
YTD Price Performance: -17.62%
Average Trading Volume: 44,372
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $215.8M
For an in-depth examination of ESEA stock, go to TipRanks’ Stock Analysis page.
