Euroseas ltd. announces agreement to acquire a 1,740 teu container vessel, built in 2006 and agreement to enter into a three-year charter for the vessel

Athens, greece, sept. 07, 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 announced today that it has agreed to acquire m/v piraeus trader, a 1,740 teu container feeder vessel built in 2006, for $25.5 million. the vessel, which is expected to be delivered to the company within october 2021 and be renamed m/v jonathan p, 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 for about $26,700 per day net to the company.
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