ESEA - Euroseas orders two additional 2800-teu vessels

Euroseas (NASDAQ:ESEA) has exercised its option to proceed with the construction of two additional eco design fuel efficient containerships. The ~2,800 teu vessels will be built at Hyundai Mipo Dockyard in South Korea and are scheduled to be delivered during the fourth quarter of 2024. The vessels are sisterships of four other vessels ordered by Euroseas (ESEA) in June 2021 and January 2022. The container vessel operator has also ordered three 1,800 teu vessels at the same shipyard. The total consideration for the current contracts is ~$86M. The purchase will be funded with a combination of debt and equity.

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Euroseas orders two additional 2,800-teu vessels