Euroseas Takes Delivery of M/V Tender Soul, Charter Commences

TL;DR

**Euroseas just got a new ship, M/V Tender Soul, and it's already earning money.**

AI Summary

Euroseas Ltd. (NASDAQ:ESEA) announced on February 7, 2024, the delivery of its new eco-friendly 2,800 teu feeder containership, the M/V Tender Soul. This vessel immediately commenced its charter, which is significant because it adds to Euroseas' operating fleet and revenue stream. For investors, this means the company is expanding its capacity with modern, efficient ships, potentially leading to increased earnings and a stronger competitive position in the container shipping market.

Why It Matters

The delivery and immediate charter of the M/V Tender Soul means Euroseas is expanding its fleet with a new, efficient vessel, directly impacting its operational capacity and revenue generation.

Risk Assessment

Risk Level: low — This filing reports a positive operational event (new vessel delivery and charter commencement) which generally reduces operational risk and enhances revenue potential.

Analyst Insight

A smart investor would view this as a positive operational development, indicating fleet expansion and immediate revenue generation. It might warrant a deeper look into Euroseas' overall charter rates and future newbuilding pipeline.

Key Numbers

• 2,800 teu — Capacity of M/V Tender Soul (Indicates the size and cargo capacity of the newly delivered containership.)

Key Players & Entities

• Euroseas Ltd. (company) — owner and operator of container vessels
• M/V Tender Soul (other) — new eco 2,800 teu feeder containership
• Aristides J. Pittas (person) — President of Euroseas Ltd.
• February 7, 2024 (date) — date of press release and vessel delivery
• 2,800 teu (other) — capacity of the M/V Tender Soul

Forward-Looking Statements

• Euroseas' revenue will increase due to the M/V Tender Soul's charter. (Euroseas Ltd.) — high confidence, target: Q1 2024 earnings report
• The addition of the M/V Tender Soul will improve Euroseas' fleet efficiency. (Euroseas Ltd.) — medium confidence, target: Next operational report

FAQ

Key Financial Figures

• $17,000 — ight to ten months charter at a rate of $17,000/day. Aristides Pittas, Chairman and C
• $42,200 — 2005 TC until Dec-24 TC until Aug-25 $42,200 $15,000 SYNERGY BUSAN(*) Intermediat
• $15,000 — until Dec-24 TC until Aug-25 $42,200 $15,000 SYNERGY BUSAN(*) Intermediate 50,726
• $25,000 — 50,726 4,253 2009 TC until Aug-24 $25,000 SYNERGY ANTWERP(*) Intermediate 50,7
• $18,250 — 50,726 4,253 2008 TC until Feb-24 $18,250 SYNERGY OAKLAND (*) Intermediate 50
• $42,000 — 50,787 4,253 2009 TC until May-26 $42,000 SYNERGY KEELUNG(*) Intermediate 50,9
• $23,000 — 50,969 4,253 2009 TC until Apr-25 $23,000 EMMANUEL P(*) Intermediate 50,796 4
• $21,000 — 50,796 4,250 2005 TC until Apr-25 $21,000 RENA P(*) Intermediate 50,796 4,250
• $19,000 — 42,165 3,100 2007 TC until May-26 $19,000 GREGOS(*) Feeder 37,237 2,800 2023
• $48,000 — 37,237 2,800 2023 TC until Apr-26 $48,000 TERATAKI(*) Feeder 37,237 2,800 20
• $50,000 — 04 TC until Feb-24 then until Feb-25 $50,000 $20,000 EVRIDIKI G(*) Feeder 34,67
• $20,000 — til Feb-24 then until Feb-25 $50,000 $20,000 EVRIDIKI G(*) Feeder 34,677 2,556
• $40,000 — 34,677 2,556 2001 TC until Feb-25 $40,000 EM CORFU(*) Feeder 34,654 2,556 2
• $27,000 — 30,360 2,008 1998 TC until Oct-24 $27,000 EM SPETSES(*) Feeder 23,224 1,740
• $29,500 — 23,224 1,740 2007 TC until Jul-24 $29,500 JONATHAN P(*) Feeder 23,357 1,740

Filing Documents

• f20824esea6k.htm (6-K) — 59KB
• f20824esea6k002.gif (GRAPHIC) — 41KB
• 0001317861-24-000006.txt ( ) — 117KB

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. EUROSEAS LTD. Dated: February 8, 2024 By: /s/ Aristides J. Pittas Name: Aristides J. Pittas Title: President 3 Exhibit 1 Euroseas Ltd. Announces Delivery of M/V Tender Soul, an Eco 2,800 teu Feeder Containership Newbuilding, and Commencement of the Vessels Charter Maroussi, Athens, Greece February 7, 2024 - Euroseas Ltd. (NASDAQ:ESEA), an owner and operator of container vessels and provider of seaborne transportation for containerized cargoes, announced today that on February 6, 2024, it has taken delivery of its M/V Tender Soul, an Eco EEDI Phase 3, 2,800 teu feeder containership newbuilding from Hyundai Mipo Dockyard Co. in South Korea. The vessel is equipped with a Tier III engine and other sustainability linked features including installation of AMP (alternative maritime power). The vessel is financed via a sale and leaseback agreement with a Japanese owner and bank. Following its delivery, M/V Tender Soul commenced an eight to ten months charter at a rate of $17,000/day. Aristides Pittas, Chairman and CEO of Euroseas commented: "We are very pleased to have taken delivery of M/V Tender Soul, the third vessel from our nine-vessel newbuilding program which includes three additional 2,800 teu and three 1,800 teu units, all modern fuel-efficient eco-design vessels with Tier III engines. It should be noted that M/V Tender Soul and the rest of our newbuildings are 40%+ more efficient than previous generation similar size non-eco ships. Thus, we look forward to the delivery of the remaining of our newbuildings that will help us reduce our carbon footprint. At the same time, we expect that the recent recovery in charter rates would benefit our vessels that are to be chartered or re-chartered in the next several months including the next scheduled deliv

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