Euroseas ltd. announces agreement to acquire a 6,350 teu container vessel, built in 2005 and agreement to enter into a three-year charter for the vessel

Athens, greece, nov. 11, 2021 (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 that it has agreed to acquire m/v leo paramount, a 6,350 teu container vessel built in 2005, for $40 million. the vessel, which is expected to be delivered to the company within 2021 and be renamed m/v marcos v, will be financed by own funds and a bank loan. contemporaneously with the acquisition, the vessel will enter into a three-year time charter contract at a daily rate of $42,200 with a possible extension for an additional (fourth) year at the option of the charterer at $15,000 per day.
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