Euroseas has secured charter contract extensions for two of its feeder containerships, Stephania K and Pepi Star. The company announced that the 2024-built sister vessels, each with a capacity of 1,800 TEU, have been contracted for a minimum of 24 months and a maximum of 26 months at a gross daily rate of $25,500.
These new agreements are scheduled to commence on July 28, 2026, and August 19, 2026, respectively, representing a direct continuation of the current charters.
Euroseas said the charter extensions are expected to generate approximately $27 million of EBITDA over the minimum contracted period of both vessels.
Aristides Pittas, Chairman and Chief Executive Officer of Euroseas, commented that the transaction, "demonstrates the continued demand for tonnage and the underlying strength of the containership charter market".
He noted that the disruption of oil flows through the Strait of Hormuz has tightened global bunker fuel availability and driven prices higher, which increases the appeal of modern tonnage to charterers.
The company expects the new fixtures to raise its total charter coverage to approximately 96 per cent for 2026. Coverage for subsequent years is projected to reach about 86 per cent in 2027 and 48 per cent in 2028, according to estimates provided by Euroseas.
