Euroseas clinches 3-year charter for boxship, cashes $38,000 rate

Greece’s Euroseas boxship owner, listed on Nasdaq stock market, led by Aristides Pittas has secured a three-year charter deal with a “top-tier charterer” for one of its boxships.

The Nasdaq-listed company reached a three-year deal for its 4,250 teu intermediate containership, Emmanuel P, built in 2005, for a minimum period of 36 to a maximum period of 38 months, at the option of the charterer, at a gross daily rate of $38,000.

The new charter period is expected to start upon delivery of the vessel from the shipyard, following the completion of her scheduled drydock and the installation of energy saving devices, both of which are expected in the first half of September of 2025.

The Pittas-led company revealed that this charter is expected to generate more than $32m in EBITDA, over the minimum contracted period and increase the company’s charter coverage to approximately 97% for 2025, 67% for 2026 and 40% for 2027.

In parallel, Euroseas average contracted daily rate increases to about $28,700 for the remainder of 2025 and further increases to more than $31,000 per day in 2026 and more