Euroseas: Three more orders for eco containerships

By Anastasia Vamvaka

$ 102 million investment for the listed shipping company Euroseas, by the shipowner Aristides Pittas. As it became known, the agreement was “closed” with the shipyard of Hyundai Mipo in South Korea and concerns the construction of three container vessels with ecological design. The financing will be done both with own funds and with loans.

At the same shipyard, Euroseas, in February, started the construction of two more containers of ships, following the order of two more in 2021. In a short period of time and with short delivery times (2023-2024), it will have renewed and strengthened its fleet with ships of great transport capacity,

The containerships, with a capacity of 1,800 teu each, will be delivered to the company in the first half of 2024. The previous order concerned two eco-design containerships with a capacity of 2,800 teu. worth about $ 85 million, should be delivered in the fourth quarter of 2023 and the first quarter of 2024, respectively, while the 2021 order – again with two containerships – for about $ 76 million has delivery time in the first half of 2023.

The company seems to be sticking to the aggressive plan that has been set for the renewal of the fleet along with the commitment to environmentally sustainable operations. It is estimated that the containerships market will maintain its positive course.

The shipping company has a fleet of 16 container vessels (consisting of 10 feeders & 6 intermediate containerships), which with the new orders will increase to 23 ships, with a capacity of 66,971 teu.

As Aristides Pittas, President and CEO of Euroseas, stated in the press conference, “this order continues our strategy for further development of Euroseas in a way that takes advantage of the attractiveness of the prices of new buildings, compared to the price of used ships. based on our commitment to have an environmentally friendly fleet and to contribute to the coal-fired industry.In a rather turbulent and uncertain economic and geopolitical environment, we remain very optimistic about the prospects of the container market. the seven newly built ships over the next two and a half years creating a fleet focused on the most commercial sizes of the feeder sector “, he added.

In February the company had announced the renewal of a previous charter agreement for the older and smaller containestship of its fleet, with daily fares increased by 257%.

The agreement concerns the 1,439 capacity Aeuan Express teu feeder (manufactured in 1997), which was chartered for a period of at least 36 months, with the possibility of extension to 39 months at the option of the charterer, with a gross fare of $ 41,000 per day.

The deal will take effect in April and is a continuation of the ship’s current contract, with a $ 11,500 daily fare.

Source: Capital

You may also like