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Wednesday, February 21, 2024
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Euroseas inks new boxship charter deals

Euroseas, a container vessel owner and operator, announced new charter agreements for its two container vessels, Synergy Keelung and Gregos.

Euroseas signed a new time charter contract for Synergy Keelung for a term of between 24 and 26 months at the charterer's decision, at a gross daily cost of US$23,000.

The new charter for the 4,253 TEU vessel built in 2009 will commence in April 2023 immediately following the completion of its current charter.

Additionally, the company said it has taken delivery of its new 2,800 TEU feeder container ship Gregos from South Korean shipbuilder Hyundai Mipo Dockyard. Following its delivery, Euroseas began a 36 to 40-month charter with Asyad Lines on Gregos.

Aristides Pittas, chairman and CEO of Euroseas, commented, "We are very pleased to have taken delivery of Gregos, the first vessel from our nine-vessel newbuilding programme which includes five additional 2,800 TEU and three 1,800 TEU units all modern fuel efficient, eco-design vessels with Tier III engines."

He added that the new vessel "has already started a charter that is expected to contribute in excess of US$42 million of earnings before interests, taxes, depreciation and amortization (EBITDA) to the company over its duration."

The vessel is EEDI Phase 3 compliant, with a Tier III engine and other sustainability-related measures such as the installation of AMP (alternative maritime power).

The transaction was funded through a combination of internal funds and a sustainability-linked loan from a Greek bank, Eurobank.

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