Athens-based Euroseas has announced a new charter for its older and smaller feeder containership Aegean Express.
Specifically, the charter of Aegean Express has been extended in direct continuation of its existing charter for a minimum period of ten months and a maximum period of twelve months at a rate of US$16,700 per day.
Euroseas has also announced its intent to spin off its three older vessels Aegean Express, Diamantis P, and Joanna into a separate company, Euroholdings, which has applied for listing on the NASDAQ Capital Market.
Euroseas will contribute the three vessels to Euroholdings in exchange for 100 per cent of the shares of Euroholdings, which it will then distribute to its shareholders. Euroseas said there can be no assurance that the spin-off transaction will ultimately occur or, if it does occur, what its structure, terms or timing will be.
The company has scheduled a conference call to discuss the spin-off on January 7, 2025, at 09:00 US EST.