SIMIC

One charter is Gregos, a modern eco-design with a capacity of 2,800 TEU that is scheduled to be delivered at the end of the first quarter of 2023, reports Container News.

The company entered a time charter contract for a period of thirty-six to a maximum of forty months at the option of the charterer at a gross daily rate of US$48,000. The new charter will start in March 2023, as soon as the ship is delivered.

The second charter is for Terataki, a ship that also has an eco-design and a capacity of 2,800 TEU, which is scheduled to be delivered at the end of the second quarter of 2023. The time charter contract is for a period of thirty-six to a maximum of forty months at the option of the charterer, at a gross daily rate of $48,000, and the new charter will start in June 2023, once the ship is delivered.

Aristidis Pittas, chairman and CEO of Euroseas, commented that "over the period of the charters, the two vessels are expected to contribute in excess of US$85 million of EBITDA fully repaying our cost to build them in just about three years. After these charters, our charter coverage for 2023 increases to about 76 per cent and for 2024 to almost 55 per cent".