Nasdaq-listed Greek boxship owner Euroseas has entered a time charter contract for one of its feeder boxships. Euroseas won a charter for the 1,732 teu, 1999-built Joanna for a minimum period of 23 to a maximum period of 25 months at the charterer’s discretion, at a gross daily rate of $16,500. The new charter with the undisclosed client will begin after the completion of her scheduled drydock, expected around the end of October 2024. According to the company, this charter is expected to contribute about $6.4m of EBITDA for the minimum contracted period. Also, it boosts Euroseas’ 2024 charter coverage to about 92%. This also increases Euroseas’ charter coverage for 2025 to about 40%. “The current strength of the market has allowed us to prolong the vessel’s life by taking the vessel through its fifth special survey, resulting in higher overall earnings for our shareholders throughout the new charter,” said Aristides Pittas, chairman and CEO of Euroseas. The company added that it took delivery of the Stephania K, its second 1,800 teu feeder containership newbuilding from Hyundai Mipo Dockyard in South Korea on June 24. It has already started its previously arranged charter. The already sold 2,788 teu feeder EM Astoria was also delivered to its new owners on June 26. The vessel was sold for approximately $10m, resulting in a gain on sale of more than $5.5m. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsGreece