ESEA - Euroseas signs agreement for acquisition of three fuel efficient 1800 teu feeder containerships

Euroseas (ESEA) signs a contract for the construction of three 1,800 teu eco-design fuel efficient feeder containerships. The vessels will be built at Hyundai Mipo Dockyard Co. in Korea and are scheduled to be delivered during H1 2024, one in the Q1 and two in the Q2 of the year. The total consideration for the construction of the three vessels is  ~$102M which the company intends to finance with a combination of debt and equity. "This order continues our strategy to further grow Euroseas in a manner that exploits the relative attractiveness of the newbuilding prices as compared to the price of secondhand vessels; furthermore, it builds on our commitment of having an environmentally friendly fleet and contributing to the de-carbonization effort of our industry. In a quite turbulent and uncertain economic and geopolitical environment, we remain very optimistic about the prospects of the container market. We look forward to welcoming all our

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Euroseas signs agreement for acquisition of three fuel efficient 1,800 teu feeder containerships