Euroseas Ltd. (NASDAQ: ESEA, the “Company” or “Euroseas”), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced that it 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 $59.25 million and will be financed with a combination of debt and equity.

Aristides Pittas, Chairman and CEO of Euroseas commented: “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 intermediatesized 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.”

Euroseas Ltd press release