Euroseas Secures Higher-Paying Charter for Feeder Vessel

Greek container ship operator Euroseas has landed a more lucrative long-term charter deal for one of its feeder vessels.

The Monica, a 1,800 TEU ship built in 2024 by HD Hyundai Mipo, has been chartered for a two-year term with an optional two-month extension. The daily rate under the new agreement is $23,500, a significant increase from the $16,000 per day it earns under its existing one-year contract.

“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 CEO of Euroseas.

The new charter is with a “top-tier” liner operator, whose identity has not been disclosed. The agreement is scheduled to begin between late April and mid-May.

Euroseas, which is listed on Nasdaq and operates a fleet of 24 containerships on a fully delivered basis, estimates it will generate approximately $12.1 million in EBITDA over the initial 24-month term. The company has secured charters for 94% of its fleet for the current year and has nearly 60% charter coverage for 2026.