Euroseas, a company listed on the American stock market, has announced a new time charter agreement for its feeder containership EM 'Spetses' (1,740 TEUs, built in 2007). This new contract will extend from April 12, 2026, immediately following the current charter, and will provide a significant increase in daily rate, exceeding $3,000 daily. This shows the ongoing demand for feeder vessels despite seasonal slowdowns in the industry.

Aristides Pittas, the company’s President and CEO, emphasized that this agreement reflects strong demand in the feeder shipping sector, with shipping companies eager to secure capacity in a tight market. The continued confidence in this segment of the shipping industry highlights the resilience and strategic decision-making of firms navigating the challenges posed by economic fluctuations.

The new charter is expected to generate approximately $8.9 million in EBITDA during its primary term, significantly boosting Euroseas' fleet coverage for the years 2026, 2027, and 2028 to 87%, 71%, and 41% respectively. This strategic move not only secures revenue for Euroseas but also indicates a positive outlook for the company amidst a challenging maritime landscape.