Greece’s Euroseas boxship owner, listed on Nasdaq stock market, led by Aristides Pittas has signed a contract for the construction of two additional modern fuel-efficient 4,300 teu container vessels to be built at Jiangsu New Yangzi Shipbuilding CO., in China.
The vessels are scheduled to be delivered in March and May of 2028. The total consideration for each of these two newbuilding contracts is approximately $59.25m and will be financed with a combination of debt and equity.
Currently, the Company has a fleet of 22 vessels, including 15 feeder containerships and 7 intermediate containerships with a cargo capacity of 67,494 teu.
After the sale of the vessel Marcos V and the delivery of the four intermediate containership newbuildings in 2027 and 2028, Euroseas’ fleet will consist of 25 vessels with a total carrying capacity of 78,344 teu.
Aristides Pittas, chairman and CEO of Euroseas, said: “We are very pleased to announce the ordering of two additional 4,300 teu containership vessels, sisterships to the two we ordered in October of 2024.
“We are committed to growing and modernizing our fleet and believe that investing in eco intermediate sized containerships, a segment with a low orderbook and an ageing existing fleet, represents a sound investment strategy.
“This ensures that we are well-positioned to capitalize on future market opportunities and continue creating long-term value for our shareholders beyond the next few years, which are already secured through our current charter arrangements.”
It is worth mentioning that in the company’s website in the fleet profile section there are four intermediate vessels under construction, Elena (H1711), Nikitas G (H1712), with a 55,200-dwt, 4,300 teu, expected to be delivered in the Q4 2027.
There are also two more intermediate vessels, YZJ2024-1768 and YZJ2024-1769, with a 55,200-dwt, 4,300 teu, expected to be delivered in the Q1 and Q2 2028.
