Euroseas, an owner of 25 small and intermediate boxships, announced on Tuesday a new charter for one of its ships that it says proves ongoing strength in its market.
The fixture with a “top-class charterer” for the 1,740-teu EM Spetses (built 2007) will earn the company a gross daily rate of $18,100 per day over the next 18 to 20 months.
That compares with the $16,500 per day that Euroseas agreed a couple of weeks ago for a slightly longer charter of between 23 and 25 months for a much older feeder container ship — the 1,732-teu Joanna (built 1999).
In April, EuroSeas extended a CMA CGM charter for the 1,740-teu EM Hydra (built 2005) for between 10 and 12 months at $13,000 per day.
CEO Aristidis Pittas on Tuesday called the company’s latest charter for the EM Spetses “profitable” and “a testament to the firmness of the market … despite the usual summer slowdown”.
The EM Spetses will commence its new charter in August when the ship’s current employment with Zim expires.
The EM Spetses fixture with Zim was one of the most successful in the company’s history.
Agreed during the coronavirus epidemic in August 2021, it was generating bumper proceeds to the tune of $29,500 per day.
According to Euroseas’ own statement at the time, this was the second-highest rate ever earned by a vessel in the company’s fleet.
Euroseas has 23 ships on the water and another two under construction, with delivery scheduled in the fourth quarter of the current year.
