ESEA - Euroseas announces new charters for two vessels with $85M in minimum contracted revenue

Euroseas (NASDAQ:ESEA) announced the extension of the charter of its container vessels M/V "Evridiki G" and a new time charter contract for its container vessel M/V "EM Corfu". M/V Evridiki G and M/V EM Corfu entered into a new time charter contract for a period of between a minimum of 36 and a maximum of 38 months at the option of the charterer, at a daily rate of $40K. The new rate will commence on Feb.1, 2022 for M/V Evridiki G and for M/V EM Corfu it will commence on completion of the vessel’s drydocking in mid-February 2022. "We are very pleased to announce new charters for two of our vessels for periods of at least three years each at rates more than twice the levels of their existing employment," chairman & CEO Aristides Pittas commented. The new charters secure a minimum of $85M of contracted revenues and are expected to make an annualized EBITDA

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Euroseas announces new charters for two vessels with $85M in minimum contracted revenue