Euroseas announces time charter contracts for two of its container ships
Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced the following chartering arrangements for two of its container carriers : a) EM Athens, a 2,506 teu 2000 - built vessel, entered into a charter for about a year period at a gross daily rate of $10,400, and, b) Manolis P, a 1,452 teu 1995 - built vessel, extended its current charter contract for about a year at a gross daily rate of $9,500.
The new charters will commence on April 9 for the EM Athens and April 7 for the Manolis. Euroseas typically announces charter arrangements of a year or longer duration.
About Euroseas Ltd.:
Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 140 years. Euroseas trades on the NASDAQ Capital Market under the ticker ESEA. Euroseas operates in the dry cargo, drybulk and container shipping markets. Euroseas' operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company and Eurobulk (Far East) Ltd. Inc., also an affiliated ship management company, which are re sponsible for the day - to - day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements. The Company has a fleet of 17 vessels, including 3 Panamax drybulk carriers, 1 Handymax drybulk carrier, 1 Kamsarmax drybulk carrier, 1 Ultramax drybulk carrier, 10 Feeder containerships and an intermediate containership. Euroseas 6 drybulk carriers have a total cargo capacity of 417,753 dwt, its 11 containerships have a car go capacity of 25,473 teu. The Company has also signed a contract for the construction of one Kamsarmax (82,000 dwt) fuel efficient drybulk carrier. Including the new - building, the total cargo capacity of the Company's drybulk vessels will be 499,753 dwt.