Euroseas, an owner and operator of container vessels and provider of seaborne transportation for containerized cargoes, announced charter extensions for its container vessels, M/V Kea and MV Hydra.
Specifically:
- M/V EM Kea, a 3,100 TEU vessel built in 2007, entered into a time charter contract extension for a period of thirty-six months, at a gross daily rate of $19,000. The new charter will commence in June 2023 immediately following the completion of its current charter.
- M/V EM Hydra, a 1,740 TEU vessel built in 2005, entered into a new time charter contract extension for a period of between a minimum of twelve and a maximum of fifteen months at the option of the charterer, at a gross daily rate of $15,000. The new charter will commence in May 2023 immediately following the completion of its current charter.Aristides Pittas, Chairman and CEO of Euroseas commented: “We are pleased to announce these two new charters which reflect the recent strengthening of the feeder containership markets and bring our charter coverage over the next 12 months in the range of 85-90%. It is noteworthy that the recent strengthening of the market for some segments has been in the range of 15-20% from the market turning point observed about 3 months ago. Especially for our M/V Kea, the three-year charter we concluded at $19,000/day is higher than our previously expected level for the vessel. The two vessels combined secure in excess of $24m of net charter revenues and contribute in excess of $13m of EBITDA during the period of the charter extensions.”
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Fleet Profile:
After the new charter arrangements of M/V EM Hydra and M/V EM Kea, the Euroseas Ltd. fleet and employment profile will be as follows:
|
Name |
Type |
Dwt |
TEU |
Year Built |
Employment(*) |
TCE Rate ($/day) |
Container Carriers
|
MARCOS V |
Intermediate |
72,968 |
6,350 |
2005 |
TC until Dec-24 |
$42,200 |
|
plus 12 months option |
option $15,000 |
|||||
|
SYNERGY KEELUNG(*) |
Intermediate |
50,969 |
4,253 |
2009 |
TC until Apr-23 TC until Apr-25 |
$14,500 $23,000 |
|
SYNERGY OAKLAND(*) |
Intermediate |
50,787 |
4,253 |
2009 |
TC until May-26 |
$42,000 |
|
SYNERGY BUSAN(*) |
Intermediate |
50,726 |
4,253 |
2009 |
TC until Aug-24 |
$25,000 |
|
SYNERGY ANTWERP(+) |
Intermediate |
50,726 |
4,253 |
2008 |
TC until Dec-23 |
$18,000 |
|
RENA P (ex- SEASPAN MANILA)(*) |
Intermediate |
50,796 |
4,250 |
2007 |
TC until April-24 |
$20,250 then |
|
Then until Feb 25 |
CONTEX(**) with $13,000 floor and $21,000 ceiling |
|||||
|
EMMANUEL P (ex-SEASPAN MELBOURNE) (*) |
Intermediate |
50,796 |
4,250 |
2005 |
TC until Mar-25 |
$19,000 |
|
EM KEA(*) |
Feeder |
42,165 |
3,100 |
2007 |
TC until May-23 |
$22,000 |
|
TC until May-26 |
$19,000 |
GREGOS (*)
Feeder
37,237 2,800
2023
TC until Apr-26
$48,000
|
EM ASTORIA(*) |
Feeder |
35,600 |
2,788 |
2004 |
TC until Feb-24 |
$50,000 |
|
then until Feb-25 |
$20,000 |
|||||
|
EVRIDIKI G(*) |
Feeder |
34,677 |
2,556 |
2001 |
TC until Feb-25 |
$40,000 |
|
EM CORFU(*) |
Feeder |
34,654 |
2,556 |
2001 |
TC until Feb-25 |
$40,000 |
|
DIAMANTIS P(*) |
Feeder |
30,360 |
2,008 |
1998 |
TC until Oct-24 |
$27,000 |
|
EM SPETSES(*) |
Feeder |
23,224 |
1,740 |
2007 |
TC until Aug-24 |
$29,500 |
|
JONATHAN P (*) |
Feeder |
23,357 |
1,740 |
2006 |
TC until Sep-24 |
$26,662(***) |
|
EM HYDRA(*) |
Feeder |
23,351 |
1,740 |
2005 |
TC until Apr-23 |
$20,000 |
|
TC until Apr-24 |
$15,000 |
|||||
|
JOANNA(*) |
Feeder |
22,301 |
1,732 |
1999 |
TC until May-23 |
$14,500 |
|
AEGEAN EXPRESS(*) |
Feeder |
18,581 |
1,439 |
1997 |
TC until Aug-23 |
$ |
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