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Home News Euroseas secures new time charter for 4,250 TEU boxship

Euroseas secures new time charter for 4,250 TEU boxship

Greek vessel owner Euroseas announced a time charter contract for its 4,250 TEU intermediate container ship Synergy Antwerp for a minimum period of 11.5 to a maximum period of 14 months, at the option of the charterer, at a gross daily rate of US$26,500.

The charter commenced on 2 April after the vessel completed its scheduled drydock and special survey, along with certain retrofits including the installation of several energy-saving devices, which are expected to improve its consumption in the commercial speed range by about 25%.

On that basis, the vessel will emit about 9,800 metric tons of CO2 less per annum. The retrofits and energy-saving devices that were installed on the ship are:

  • New bulbous bow
  • New and lighter propeller
  • Hub vortex absorbed fins (HVAF)
  • Pre-shrouded vanes (PSV)
  • Silicone coating of the ship’s underwater parts
  • LED lights
  • Auto pilot upgrade with advanced ecology control
  • Jacket pre-heater auto control

Aristides Pittas, chairman and CEO of Euroseas, commented: "The charter rate represents a strong increase compared to last done, indicating charterer’s interest in more modern, energy-efficient vessels; it is expected to contribute about US$6.5 million of EBITDA over the minimum contracted period and increases our 2024 charter coverage to about 80%. This is the third vessel from our fleet undergoing retrofits as part of our ongoing efforts to modernize our fleet and reduce our carbon footprint."

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