Euroseas ltd. announces time charter contract for its fuel efficient 1,800 teu feeder containership newbuilding, m/v monica and financing of m/v monica and m/v stefania k

Athens, greece, may 08, 2024 (globe newswire) -- 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 today it has entered into a time charter contract for m/v monica, a newbuilding fuel efficient 1,800 teu feeder containership currently under construction, for a minimum period of 10 to a maximum period of 12 months at the option of the charterer, at a gross daily rate of $16,000. the new charter will commence upon delivery of the vessel from the shipyard expected around mid-may 2024. the acquisition was financed with a combination of own funds and a us$22.5 million loan provided by the national bank of fujairah. the same financing is secured for the sister ship m/v stefania k, which is expected to be delivered in mid-june.
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