Euroseas Ltd. has secured new forward charter agreements for three of its modern fuel-efficient 2,800 TEU container vessels: the M/V Leonidas Z, M/V Gregos and M/V Terataki. Euroseas is a shipowner and operator of container vessels serving global seaborne transportation needs.
The new contracts cover a minimum period of 35 months and up to 37 months, at the charterer’s option. All vessels will operate at a gross daily rate of $30,000.
The charter periods are expected to begin immediately after the redelivery of their current contracts, scheduled across the first, second and third quarters of 2026.
Euroseas Chairman and CEO Aristides Pittas described the new agreements as a solid endorsement of the feeder vessel market.
“We are very pleased to announce new charter contracts for three of our modern, South Korea-built, 2,800 teu feeder containerships with a top-tier charterer for 35–37 months at a profitable rate of $30,000,” said Aristides Pittas, Chairman and CEO, Euroseas.
According to Pittas, the contracts highlight strong demand in the feeder segment and continued resilience in charter rates despite ongoing global market uncertainties.
“These fixtures demonstrate the strong underlying demand for the feeder container segment, helping to keep the charter market for such vessels at high levels and firm despite global uncertainties,” he said.
The new charter deals are expected to enhance cash flow visibility and provide stable earnings well into 2029.
“Securing these charters greatly increases our revenue and earnings visibility well into 2029, allowing us to concentrate on evaluating further growth opportunities,” said Pittas.
“The charters are expected to generate approximately $75 million of EBITDA over the minimum contracted period and increase our charter coverage for 2026, 2027 and 2028 to approximately 82.5%, 66.5% and 42% respectively.”
Euroseas says the transactions position the company for further fleet development and long-term market participation, supported by predictable charter income and strong utilization rates.
