Nasdaq-listed Euroseas has secured a new time charter for a duo of feeder containerships with an undisclosed client.

Euroseas said that its 2024-built 1,800 teu feeders Stephania K and Pepi Star, for a minimum period of 24 to a maximum period of 26 months, at the option of the charterer, at a gross daily rate of $25,500.

The new charter periods will commence on July 28 and August 19, respectively, in direct continuation of the present charter contracts.

“The strong rate reflects the premium that modern, fuel-efficient tonnage can command, especially in the current geopolitical environment, where disruptions to oil flows through the Strait of Hormuz have tightened global bunker fuel availability and driven prices higher, making eco-vessels increasingly attractive to charterers,” said Aristides Pittas, chairman and CEO of Euroseas.

According to the company, the charters are expected to generate approximately $27m of EBITDA over the minimum contracted periods for both vessels and to increase the charter coverage for 2026, 2027, and 2028 to about 96%, 86%, and 48%, respectively.

Euroseas has a fleet of 21 vessels, including 15 feeder containerships and six containerships with a cargo capacity of 61,144 teu. The company also has ten newbuilds on order, set for delivery between 2027 and 2029.