Euroseas Ltd. Announces Order for Two Additional Feeder 1,800 TEU Containerships

Euroseas Ltd. has announced the order for two additional modern, fuel-efficient, gearless 1,800 TEU container vessels from Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. in China. These vessels are scheduled for delivery in December 2028 and March 2029, with each costing approximately $32.26 million, to be financed through a combination of debt and equity. This strategic move aligns with the company's ongoing fleet modernization and renewal efforts, addressing the tight market conditions for feeder and sub-6000 TEU containerships. The company cites a low orderbook for this segment and an aging existing fleet as favorable factors for this investment. Following these additions, Euroseas' fleet will expand to 33 vessels with a total carrying capacity of 97,396 TEU.