Euroseas Ltd. Announces Time Charter Contract for its Fuel Efficient 1,800 teu Feeder Containership Newbuilding, M/V Stephania K
ATHENS, Greece, June 10, 2024 (GLOBE NEWSWIRE) — Euroseas Ltd. (NASDAQ:ESEA, the “Company” or “Euroseas”), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today it has entered into a time charter contract for M/V Stephania K, a newbuilding fuel efficient 1,800 teu feeder containership currently under construction, for a minimum period of 23 to a maximum period of 25 months at the option of the charterer, at a gross daily rate of $22,000. The new charter will commence upon delivery of the vessel from the shipyard expected to take place on June 28, 2024. The acquisition was financed with a combination of own funds and a US$22.5 million loan provided by the National Bank of Fujairah.