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 a new time charter contract for its 2007-built 1,740 teu feeder containership, EM Spetses, for a minimum period of 22 to a maximum period of 24 months, at the option of the charterer, at a gross daily rate of $21,500.

The new charter period will commence on April 12, 2026, in direct continuation of its present charter, and represents a daily increase of over $3,000 over the vessel’s current rate.

Aristides Pittas, Chairman and CEO of Euroseas, commented: “We are very pleased to that we have extended the time charter contract for our 2007-built EM Spetses with a top-class charterer, in direct continuation of its present charter, for 22-24 months at a profitable rate of $21,500. This fixture highlights that despite the upcoming Lunar New Year holidays, activity across the feeder segment remains firm, as operators move to secure their requirements amid a tight container chartering market with very limited tonnage availability. The charter is expected to generate about $8.9 million of EBITDA over the minimum contracted period and increases our charter coverage for 2026, 2027, and 2028 to about 87%, 71% and 41% respectively.”

Euroseas Ltd. Press Release