Euroseas Extends Charter for M/V EM Hydra

TL;DR

Euroseas locked in a 2-year charter for M/V EM Hydra starting March 2025.

AI Summary

Euroseas Ltd. announced on February 11, 2025, a two-year charter contract extension for its feeder containership, the M/V EM Hydra. The extension is with an unaffiliated third party and is expected to commence in March 2025.

Why It Matters

This charter extension provides Euroseas with a predictable revenue stream for a key asset, contributing to financial stability and operational continuity.

Risk Assessment

Risk Level: low — The filing reports a routine charter extension, which is a standard operational event for a shipping company and does not indicate significant new risks.

Key Players & Entities

• Euroseas Ltd. (company) — Registrant
• M/V EM Hydra (company) — Feeder containership
• February 11, 2025 (date) — Announcement date
• March 2025 (date) — Charter extension commencement

FAQ

Key Financial Figures

• $19,000 — the charterer, at a gross daily rate of $19,000, in direct continuation of its current
• $7.3 million — charter is expected to contribute about $7.3 million of EBITDA over the minimum contracted p
• $15,000 — 72,968 6,350 2005 TC until Oct-25 $15,000 SYNERGY BUSAN(*) Intermediate 50,726
• $35,500 — 50,726 4,253 2009 TC until Dec-27 $35,500 SYNERGY ANTWERP(+)(*) Intermediate 5
• $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 Jul-25 $21,000 RENA P(+) Intermediate 50,796 4,250
• $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

• f21125esea6k.htm (6-K) — 57KB
• f21125esea6k002.gif (GRAPHIC) — 41KB
• 0001317861-25-000009.txt ( ) — 114KB

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 11, 2025 By: /s/ Aristides J. Pittas Name: Aristides J. Pittas Title: President Exhibit 1 Euroseas Ltd. Announces 2-year Charter Contract Extension for its Feeder Containership, M/V EM Hydra Maroussi, Athens, Greece February 11, 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 a new time charter contract for its 1,740 teu feeder containership, M/V EM Hydra for a minimum period of 24 to a maximum period of 26 months, at the option of the charterer, at a gross daily rate of $19,000, in direct continuation of its current charter. The new charter period is expected to commence on May 1, 2025. Aristides Pittas, Chairman and CEO of Euroseas commented: We are very pleased to announce that we have extended the time charter contract for our 20-year-old M/V EM Hydra with a top-tier charterer, in direct continuation of its present charter, for 24-26 months at a profitable rate of $19,000. Despite the potential reopening of the Red Sea routes, which could normalize trading routes, the charter market for feeder containerships remains quite resilient, with limited vessel availability continuing to support strong periods and rates. This charter is expected to contribute about $7.3 million of EBITDA over the minimum contracted period and increase our 2025 charter coverage to about 85%, and our charter coverage for 2026 to about 50%. Fleet Profile: After the charter of M/V EM Hydra, and after the previously announced spin-off of three of the Companys subsidiaries into a separate company, Euroholdings Ltd., which has applied for listing on the NASDAQ exchange, the Euroseas Ltd. fleet profile is as

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View this 6-K filing on SEC EDGAR