Euroseas Ltd. Announces 2-Year Charter Contract Extensions

Euroseas Ltd. has announced two-year charter contract extensions for its 1,800 teu feeder containerships, M/V Stephania K and M/V Pepi Star. The extensions are for a minimum of 24 months and a maximum of 26 months, at a gross daily rate of $25,500. The new charter periods will commence in late July and mid-August 2026, respectively, directly following the current charters. These extensions are expected to generate approximately $27 million in EBITDA over the minimum contracted period for both vessels. This development increases Euroseas' charter coverage for 2026, 2027, and 2028 to about 96%, 86%, and 48%, respectively. The company highlighted that the profitable rate reflects the strong demand for modern, fuel-efficient tonnage, particularly in the current geopolitical climate which has increased bunker fuel prices.