Euroseas, a US-listed owner of 25 container ships, has found a charterer willing to fix one of its biggest vessels for three years.
The Athens-based company said a “top-class charterer” had agreed to extend the existing employment of the 4,253-teu Synergy Busan (built 2009).
The contract runs for between 36 and 38 months at $35,500 per day — the longest chartering deal it has announced in 2024.
Euroseas principal Aristides Pittas described the rate as “a strong increase to last-done”.
The Synergy Busan had previously been earning $25,000 per day, in a charter concluded in March 2021 for between 36 and 40 months.
This is the longest of the 11 time charters announced by the company so far this year. All fixtures it disclosed since January had a duration ranging between about one year and two years.
The company most recently announced in July an $18,100-per-day deal of about 18 months for the 1,740-teu feeder vessel EM Spetses (built 2007).
The Synergy Busan fixture concluded now “demonstrates that activity is starting to pick up again and charter market terms remain at very healthy and firm levels”, Pittas said in a statement released late on Monday.
The Greek owner’s words are in line with analyst comments about tight availability for container ship tonnage above 2,500 teu.
Clarksons said in its weekly note on 20 September: “Operators [are] increasingly looking at Q1 25 positions and beyond to fulfil their requirements or risk losing out on tonnage.”
Euroseas has 23 feeder and intermediate container ships on the water.
Seven of these ships were delivered in 2023 and 2024 as part of a newbuilding programme.
It has a further two newbuildings under construction due for delivery in the first quarter of 2025.
The Synergy Busan is among its older vessels, which the company is upgrading.
According to Pittas, the ship’s latest three-year charter is a sign that his decision to equip it with energy-saving devices during a dry-docking last year “is appreciated by the market and paying off”.
