Euroseas Ltd. Announces 3-Year Forward Charter Contracts for Three of its Modern 2,800 TEU Containerships

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 new charter contracts for three of its modern fuel-efficient 2,800 teu container vessels, M/V Leonidas Z, M/V Gregos, and M/V Terataki. All three charters will be for a minimum period of 35 to a maximum period of 37 months, at the option of the charterer, at a gross daily rate of $30,000. The new charter periods are expected to commence directly after the redelivery of their present charters, during the first, second and third quarters of 2026.

Aristides Pittas, Chairman and CEO of Euroseas commented: “We are very pleased to announce new charter contracts for three of our modern, South Korea-built, 2,800 teu feeder containerships with a top-tier charterer for 35-37 months at a profitable rate of $30,000. These fixtures demonstrate the strong underlying demand for the feeder container segment, helping to keep the charter market for such vessels at high levels and firm despite global uncertainties. Securing these charters greatly increases our revenue and earnings visibility well into 2029, allowing us to concentrate on evaluating further growth opportunities. The charters are expected to generate approximately $75 million of EBITDA over the minimum contracted period and increase our charter coverage for 2026, 2027, and 2028 to approximately 82.5%, 66.5% and 42% respectively.”