Euroseas Ltd., an owner and operator of container vessels and provider of seaborne transportation for containerized cargoes, announced today a mutual agreement to terminate the current charters for its container vessels M/V Rena P and M/V Emmanuel P, while concurrently fixing the vessels on new charters for $21,000 per vessel per day, according to the company's release.
The company agreed to terminate the current charter of M/V Rena P, a 4,250 TEU vessel built in 2007; which was originally expiring in February 2025 earning a rate of $20,250/day until April 2024 and, subsequently, a rate based on the CONTEX index with a floor of $13,000 and a ceiling of $21,000 per day. Contemporaneously with the termination, the company has entered into a time charter contract for a minimum period of twenty to a maximum period of twenty-four months at the option of the charterer, at a gross daily rate of $21,000. The new charter will commence in August 2023, following the termination of its current charter.
Similarly, the company agreed to terminate the current charter of M/V Emmanuel P, a 4,250 TEU vessel built in 2005, which was originally expiring in March 2025 at a rate of $19,000/day. Contemporaneously with the termination, the company has entered into a new time charter contract for a minimum period of twenty to a maximum period of twenty-four months at the option of the charterer, at a gross daily rate of $21,000. The new charter will commence in August 2023, following the termination of its current charter.