Euroseas Ltd., a container vessel owner and operator specializing in seaborne transportation of containerized cargo, has secured a new time charter contract for its 1,740 teu feeder containership, EM Spetses.
The 2007-built vessel has been fixed for a minimum period of 22 months and up to 24 months, at the charterer’s option, at a gross daily rate of $21,500. The new charter will begin on April 12, 2026, immediately following the expiration of its current contract. The agreed rate represents an increase of more than $3,000 per day compared to the vessel’s existing charter.
The agreement is expected to generate approximately $8.9 million in EBITDA over the minimum contracted period.
Aristides Pittas, Chairman and CEO, Euroseas Ltd., commented on the development: “We are very pleased that we have extended the time charter contract for our 2007-built EM Spetses with a top-class charterer, in direct continuation of its present charter, for 22-24 months at a profitable rate of $21,500. This fixture highlights that despite the upcoming Lunar New Year holidays, activity across the feeder segment remains firm, as operators move to secure their requirements amid a tight container chartering market with very limited tonnage availability.”
Following the new agreement, Euroseas has increased its charter coverage to approximately 87% for 2026, 71% for 2027 and 41% for 2028, strengthening revenue visibility over the medium term.
The latest contract underscores continued strength in the feeder containership market, where limited vessel availability and steady demand are supporting firm charter rates.
