Euroseas ltd. announces agreement to acquire two 4,250 teu container vessels, built in 2005 and 2007

Athens, greece, may 03, 2022 (globe newswire) -- euroseas ltd. (nasdaq: esea, the “company” or “euroseas”), an owner and operator of container vessels and provider of seaborne transportation for containerized cargoes, announced today that it has agreed to acquire m/v seaspan manila and m/v seaspan melbourne both intermediate size container vessels with capacity of 4,250 teu each built in 2007 and 2005, respectively. the vessels are being acquired for a combined price of $37 million. the company will also assume the existing charter arrangements of the vessels. both acquisitions will be initially financed with the company's own funds. specifically:
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