Greek containership owner Euroseas has bagged an improved long-term charter contract for one of its feeder vessels.
The 2024 HD Hyundai Mipo-built 1,800 teu Monica has been fixed for two years plus two months of options at 23,500 per day – up from $16,000 the ship is earning under its current one-year deal.
“Despite the various macroeconomic uncertainties, this fixture highlights the continued strength of the containership charter market, with both periods and rates remaining at very healthy levels, as operators look to secure their requirements in an environment with very limited supply,” said Aristides Pittas, chairman and chief executive of Euroseas.
The charter, with an undisclosed “top-tier” liner, should start between the end of April and mid-May this year.
The Nasdaq-listed tonnage provider with 24 boxships on a fully delivered basis said it expects to see about $12.1m in EBITDA over the minimum contracted period of 24 months. The company’s fleet is 94% fixed for this year, while charter coverage for 2026 currently stands at nearly 60%.
