Nasdaq-listed Euroseas has secured a new time charter for one of its feeder containerships, locking in a higher rate in what it describes as a firm feeder market.

The 2007-built 1,740 teu EM Spetses has been fixed for a minimum of 22 months and up to 24 months at the charterer’s option, at a gross daily rate of $21,500. The new period will begin on April 12, 2026, in direct continuation of the ship’s existing charter.

The agreed rate represents an increase of more than $3,000 per day compared to the current contract.

Chairman and chief executive Aristides Pittas said the extension with what he described as a top-tier charterer reflects continued strength in the feeder segment.“Despite the upcoming Lunar New Year holidays, activity across the feeder segment remains firm, as operators move to secure their requirements amid a tight container chartering market with very limited tonnage availability,” Pittas said.

Euroseas expects the fixture to generate about $8.9m in EBITDA over the minimum contracted period. The deal also lifts the company’s charter coverage to around 87% for 2026, 71% for 2027 and 41% for 2028.

The company operates a fleet of 25 vessels on a fully delivered basis and has four newbuilds scheduled for delivery between 2027 and 2028.