Euroseas, a company formed in 2005 to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 140 year, reports today that has sealed a new charter deal for two years for its container vessel “Synergy Keelung” at a gross daily rate of $23,000. The charter will generate about $10m of Ebitda over the next two years, providing a higher contribution to Euroseas earnings per share than previously expected.
The rate and the duration of the charter are indicative of the resilience of the containership market which has firmed up, after the adjustment that took place over the last six months, as the company claims.
Aristides Pittas, the Chairman and CEO of Euroseas, an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, said the “Synergy Keelung”, a 4,253 teu vessel built in 2009, entered into a new time charter contract for a period of between a minimum of twenty-four and a maximum of twenty-six months at the option of the charterer, at a gross daily rate of $23,000.
The Athens-based, Nasdaq-listed company notes that the new charter will commence in April 2023, immediately following the completion of its current charter.
Aristides Pittas, Chairman and CEO of Euroseas commented: “We are pleased to announce the new charter of our vessel M/V Synergy Keelung with a first-class charterer. We believe that both the rate and, especially, the duration of the charter are indicative of the resilience of the containership market which has firmed up after the adjustment that took place over the last six months. M/V Synergy Keelung’s charter will generate about $10m of Ebitda over the next two years providing a higher contribution to our earnings per share than previously expected.”
