Euroseas has signed a contract for the construction of two specialized 2,800 TEU containerships. Huanghai Shipbuilding Co., Ltd. in China will build both vessels. These ships are optimized for high-reefer density trades, reflecting a strategic move into a growing market segment.
Vessel specifications and delivery timeline The new ships will meet modern environmental standards, including EEDI Phase 3 and IMO NOx Tier III. They are designed with over 1,000 reefer plugs each to provide increased capacity for refrigerated cargo.
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Delivery schedule: The vessels are slated for delivery in June and August 2028.
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Investment cost: Each ship has an acquisition price of approximately $46.35 million.
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Funding: Euroseas will use a combination of debt and equity to finance the project.
Strategic expansion and future options The contract includes an option for Euroseas to order up to four additional vessels of similar size. These future units can be configured with either high-reefer plugs or conventional specifications.
Aristides Pittas, Chairman and CEO of Euroseas, noted that the outlook for the global refrigerated shipping market remains positive. He emphasized that there is limited availability of modern vessels with significant reefer capacity. This investment aims to modernize the fleet and enhance long-term value for shareholders through disciplined growth.
