Euroseas Secures 3-Year Charters for Containerships

TL;DR

Euroseas locked in 3-year charters for two ships, locking in revenue.

AI Summary

Euroseas Ltd. announced on February 3, 2025, that it has secured three-year charter contracts for its intermediate containerships, the M/V Synergy Antwerp and M/V Synergy Keelung. These agreements are expected to generate significant revenue for the company over the contract period.

Why It Matters

Securing long-term charter contracts provides Euroseas with predictable revenue streams and demonstrates market demand for its vessels, potentially boosting investor confidence.

Risk Assessment

Risk Level: low — The filing is a routine announcement of charter contracts, which is generally positive news with low inherent risk.

Key Players & Entities

• Euroseas Ltd. (company) — Registrant and issuer of the announcement
• M/V Synergy Antwerp (company) — One of the containerships with a new charter
• M/V Synergy Keelung (company) — One of the containerships with a new charter
• February 3, 2025 (date) — Date of the press release
• Aristides Pittas (person) — Chairman and CEO of Euroseas Ltd.

FAQ

Key Financial Figures

• $35,500 — the charterer, at a gross daily rate of $35,500. Specifically: M/V Synergy Antwerp
• $57 million — re expected to contribute approximately $57 million in EBITDA over the minimum contracted p
• $15,000 — 72,968 6,350 2005 TC until Aug-25 $15,000 SYNERGY BUSAN(*) Intermediate 50,726
• $26,500 — 8 TC until May-25 then until May-28 $26,500 $35,500 SYNERGY OAKLAND (*) Interme
• $42,000 — 50,787 4,253 2009 TC until May-26 $42,000 SYNERGY KEELUNG(+)(*) Intermediate 5
• $23,000 — 09 TC until Jun-25 then until Jun-28 $23,000 $35,500 EMMANUEL P(*) Intermediate
• $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
• $32,000 — 37,237 2,800 2024 TC until Oct-27 $32,000 LEONIDAS Z(*) Feeder 37,237 2,800
• $20,000 — 37,237 2,800 2024 TC until Mar-26 $20,000 DEAR PANEL Feeder 37,237 2,800 202
• $40,000 — 01 TC until Feb-25 then until Apr-26 $40,000 $29,500 EM CORFU(*) Feeder 34,654
• $29,500 — til Feb-25 then until Apr-26 $40,000 $29,500 EM CORFU(*) Feeder 34,654 2,556 2
• $28,000 — til Feb-25 then until Aug-26 $40,000 $28,000 STEPHANIA K(*) Feeder 22,262 1,800
• $22,000 M — 22,262 1,800 2024 TC until May-26 $22,000 MONICA(*) Feeder 22,262 1,800 2024 T

Filing Documents

• f20425esea6k.htm (6-K) — 58KB
• f20425esea6k002.gif (GRAPHIC) — 41KB
• 0001317861-25-000005.txt ( ) — 116KB

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 4, 2025 By: /s/ Aristides J. Pittas Name: Aristides J. Pittas Title: President Exhibit 1 Euroseas Ltd. Announces 3-year Charter Contracts for its Intermediate Containerships, M/V Synergy Antwerp and M/V Synergy Keelung Maroussi, Athens, Greece February 3, 2025 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 new time charter contracts for two of its 4,253 teu intermediate containerships, M/V Synergy Antwerp and M/V Synergy Keelung. Both charters are for a minimum period of 36 months and a maximum period of 39 months, at the option of the charterer, at a gross daily rate of $35,500. Specifically: M/V Synergy Antwerp will commence its charter after the completion of her present charter, expected sometime in May 2025. M/V Synergy Keelung will commence its charter after the completion of her present charter, expected in June 2025. Aristides Pittas, Chairman and CEO of Euroseas commented: We are very pleased to announce new time charter contracts for two of our 4,253 teu vessels M/V Synergy Antwerp and M/V Synergy Keelung with a top-tier charterer for 36-39 months at a very profitable rate of $35,500/day/vessel. These charters continue to demonstrate the strong demand for feeder and intermediate size vessels by liner companies despite the possibility of potential rerouting of vessels back through the Suez Canal later in the year. We believe that charterers are willing to secure tonnage well in advance at very firm periods and rates, driven by the tight supply of feeder and intermediate containership vessels. This is largely due to their very limited orderbook and the fact that a large

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