Euroseas Ltd. Announces Order for the Construction of Two Additional 4,300 TEU Containerships
Euroseas Ltd. (NASDAQ: ESEA) has announced the signing of contracts to construct two new 4,300 TEU fuel-efficient container vessels at Jiangsu New Yangzi Shipbuilding in China. The vessels, scheduled for delivery in March and May 2028, will cost approximately $59.25 million each and will be financed through a combination of debt and equity.
These vessels are sisterships to two previously ordered vessels in October 2024. The company currently operates a fleet of 22 container carriers with a total capacity of 67,494 TEU, and with these new orders, will have 4 vessels under construction totaling 17,200 TEU. The strategic investment focuses on eco intermediate-sized containerships, targeting a segment with a low orderbook and aging fleet.
Euroseas Ltd. (NASDAQ: ESEA) ha annunciato la firma di contratti per la costruzione di due nuove portacontainer da 4.300 TEU a basso consumo presso Jiangsu New Yangzi Shipbuilding in Cina. Le navi, con consegne previste per marzo e maggio 2028, avranno un costo di circa 59,25 milioni di dollari ciascuna e saranno finanziate tramite una combinazione di debito e capitale.
Queste unit脿 sono gemelle di due navi ordinate precedentemente nell鈥檕ttobre 2024. La compagnia gestisce attualmente una flotta di 22 portacontainer per una capacit脿 complessiva di 67.494 TEU; con questi ordini avr脿 4 navi in costruzione per un totale di 17.200 TEU. L鈥檌nvestimento 猫 mirato su containerships intermedie eco-efficienti, un segmento caratterizzato da un basso livello di nuovi ordini e da una flotta in invecchiamento.
Euroseas Ltd. (NASDAQ: ESEA) ha anunciado la firma de contratos para construir dos nuevos portacontenedores de 4.300 TEU de bajo consumo en Jiangsu New Yangzi Shipbuilding, China. Las embarcaciones, cuya entrega est谩 prevista para marzo y mayo de 2028, costar谩n aproximadamente 59,25 millones de d贸lares cada una y se financiar谩n mediante una combinaci贸n de deuda y capital.
Estos buques son gemelos de otros dos encargados en octubre de 2024. La compa帽铆a opera actualmente una flota de 22 portacontenedores con una capacidad total de 67.494 TEU, y con estos pedidos tendr谩 4 buques en construcci贸n que suman 17.200 TEU. La inversi贸n estrat茅gica se centra en portacontenedores intermedios ecol贸gicos, dirigidos a un segmento con poca actividad de pedidos y una flota envejecida.
Euroseas Ltd. (NASDAQ: ESEA)電� 欷戧淡 Jiangsu New Yangzi 臁办劆靻岇棎 4,300 TEU旮� 鞐半 須湪 旎厡鞚措剤靹� 2觳� 瓯挫“ 瓿勳暯鞚� 觳搓舶頄堧嫟瓿� 氚滍憸頄堨姷雼堧嫟. 鞚措摛 靹犽皶鞚� 2028雲� 3鞗旉臣 5鞗� 鞚鸽弰 鞓堨爼鞚措┌, 觳欕嫻 鞎� 5,925毵� 雼煬鞚� 牍勳毄鞚� 霌り碃 攵�毂勳檧 鞛愲掣鞚� 順柬暕頃� 氚╈嫕鞙茧 鞛愱笀 臁半嫭霅╇媹雼�.
鞚� 靹犽皶霌れ潃 2024雲� 10鞗旍棎 欤茧頃� 霊� 觳欔臣 鞛愲Г靹犾瀰雼堧嫟. 須岇偓電� 順勳灛 齑� 鞖╇焿 67,494 TEU鞚� 22觳�鞚� 旎厡鞚措剤靹犾潉 鞖挫榿 欷戩澊氅�, 鞚措矆 氚滌＜搿� 齑� 17,200 TEU鞐� 頃措嫻頃橂姅 4觳欖潣 瓯挫“ 欷戩澑 靹犽皶鞚� 氤挫湢頃橁矊 霅╇媹雼�. 鞝勲灥鞝� 韴瀽電� 鞁犼窚 氚滌＜臧� 鞝侁碃 靹犽牴鞚� 雴掛潃 甑皠鞚� 瓴儱頃� 旃滍櫂瓴� 欷戫槙 旎厡鞚措剤靹犾棎 歆戩霅橃柎 鞛堨姷雼堧嫟.
Euroseas Ltd. (NASDAQ: ESEA) a annonc茅 la signature de contrats pour la construction de deux nouveaux porte-conteneurs de 4 300 EVP 脿 faible consommation chez Jiangsu New Yangzi Shipbuilding en Chine. Les navires, livrables en mars et mai 2028, co没teront environ 59,25 millions de dollars chacun et seront financ茅s par une combinaison de dette et de capitaux propres.
Ces unit茅s sont les jumelles de deux navires command茅s en octobre 2024. La soci茅t茅 exploite actuellement une flotte de 22 porte-conteneurs d鈥檜ne capacit茅 totale de 67 494 EVP ; avec ces nouvelles commandes, elle comptera 4 navires en construction pour un total de 17 200 EVP. L鈥檌nvestissement strat茅gique vise des porte-conteneurs interm茅diaires 茅co-efficients, ciblant un segment avec peu de nouvelles commandes et une flotte vieillissante.
Euroseas Ltd. (NASDAQ: ESEA) hat den Abschluss von Vertr盲gen f眉r den Bau von zwei neuen 4.300 TEU kraftstoffeffizienten Containerschiffen bei Jiangsu New Yangzi Shipbuilding in China bekanntgegeben. Die Schiffe sollen im M盲rz und Mai 2028 geliefert werden, kosten jeweils rund 59,25 Mio. USD und werden durch eine Kombination aus Fremd- und Eigenkapital finanziert.
Die Einheiten sind Schwesterschiffe von zwei im Oktober 2024 bestellten Schiffen. Das Unternehmen betreibt derzeit eine Flotte von 22 Containerschiffen mit einer Gesamtkapazit盲t von 67.494 TEU. Mit den neuen Bestellungen wird es 4 Schiffe im Bau mit zusammen 17.200 TEU haben. Die strategische Investition richtet sich auf umweltfreundliche mittelgro脽e Containerschiffe in einem Segment mit geringer Bestellaktivit盲t und einer alternden Flotte.
- Investment in fuel-efficient vessels demonstrates commitment to fleet modernization
- Strategic focus on intermediate-sized segment with low orderbook and aging fleet
- Strong existing charter arrangements secure revenue for coming years
- Fleet expansion with 4 new vessels under construction shows growth trajectory
- Significant capital expenditure of $118.5 million for the two vessels
- Long delivery timeline extending to 2028 exposes to market risks
- Additional debt financing required which may impact balance sheet
Insights
Euroseas' $118.5M investment in two eco-friendly containerships strengthens its fleet modernization strategy in an undersupplied vessel segment.
Euroseas' order for two additional 4,300 TEU containerships represents a $118.5 million strategic investment that significantly enhances the company's future competitive positioning. This acquisition increases their newbuild pipeline to four identical vessels, creating operational efficiency advantages while addressing the critical intermediate-size containership segment characterized by an aging global fleet and limited orderbook.
The timing of this investment is particularly strategic. With deliveries scheduled for 2028, Euroseas is positioning itself for the next market cycle while their current fleet enjoys secured revenue through existing charter arrangements that extend through 2025-2028. This provides exceptional cash flow visibility in the medium term while preparing for long-term growth.
A detailed examination of Euroseas' fleet profile reveals a thoughtful diversification strategy across feeder and intermediate vessel classes. The company is systematically replacing older vessels (note the 2005-built MARCOS V is being sold) with modern, fuel-efficient newbuilds. The four identical 4,300 TEU vessels on order will feature significantly improved fuel efficiency compared to older vessels in this segment, providing both operational cost advantages and environmental compliance benefits as maritime emissions regulations tighten.
This investment aligns perfectly with industry fundamentals where the intermediate containership segment (4,000-5,000 TEU) faces structural undersupply due to years of underinvestment. These vessels serve vital regional trade routes that can't be efficiently serviced by either mega-vessels or smaller feeders, positioning Euroseas to potentially command premium charter rates when these vessels deliver.
ATHENS, Greece, Aug. 25, 2025 (GLOBE NEWSWIRE) -- 听Euroseas Ltd. (NASDAQ: ESEA, the 鈥淐ompany鈥� or 鈥淓uroseas鈥�), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today that it has signed a contract for the construction of two additional modern fuel-efficient 4,300 teu container vessels to be built at Jiangsu New Yangzi Shipbuilding CO., in China. The vessels are scheduled to be delivered in March and May of 2028. The total consideration for each of these two newbuilding contracts is approximately
Aristides Pittas, Chairman and CEO of Euroseas, commented: 鈥淲e are very pleased to announce the ordering of two additional 4,300 teu containership vessels, sisterships to the two we ordered in October of 2024. We are committed to growing and modernizing our fleet and believe that investing in eco intermediate-sized containerships, a segment with a low orderbook and an ageing existing fleet, represents a sound investment strategy. This ensures that we are well-positioned to capitalize on future market opportunities and continue creating long-term value for our shareholders beyond the next few years, which are already secured through our current charter arrangements.鈥�
Fleet Profile:
The Euroseas Ltd. fleet profile is currently as follows:
| Name | Type | Dwt | TEU | Year Built | Employment (*) | TCE听Rate ($/day) | |
Container Carriers | 听 | 听 | 听 | 听 | 听 | 听 | |
| MARCOS V(+)(***) | Intermediate | 72,968 | 6,350 | 2005 | TC until Oct-25 | ||
| SYNERGY BUSAN(*) | Intermediate | 50,727 | 4,253 | 2009 | TC until Dec-27 | ||
| SYNERGY ANTWERP(*) | Intermediate | 50,727 | 4,253 | 2008 | TC until May-28 | ||
| SYNERGY OAKLAND(*) | Intermediate | 50,788 | 4,253 | 2009 | TC until May-26 | ||
| SYNERGY KEELUNG(*) | Intermediate | 50,697 | 4,253 | 2009 | TC until Jun-28 | ||
| EMMANUEL P(*) | Intermediate | 50,796 | 4,250 | 2005 | In Drydock, passing her special survey then TC until Sep-28 | ||
| RENA P(*) | Intermediate | 50,765 | 4,250 | 2007 | TC until Aug-28 | ||
| EM KEA(*) | Feeder | 42,165 | 3,100 | 2007 | TC until May-26 | ||
| GREGOS(*) | Feeder | 38,733 | 2,800 | 2023 | TC until Apr-26 | ||
| TERATAKI(*) | Feeder | 38,733 | 2,800 | 2023 | TC until Jul-26 | ||
| TENDER SOUL(*) | Feeder | 38,733 | 2,800 | 2024 | TC until Oct-27 | ||
| LEONIDAS Z(*) | Feeder | 38,733 | 2,800 | 2024 | TC until Mar-26 | ||
| DEAR PANEL | Feeder | 38,733 | 2,800 | 2025 | TC until Nov-27 | ||
| SYMEON P | Feeder | 38,733 | 2,800 | 2025 | TC until Nov-27 | ||
| EVRIDIKI G(*) | Feeder | 34,654 | 2,556 | 2001 | TC until Apr-26 | ||
| EM CORFU(*) | Feeder | 34,649 | 2,556 | 2001 | TC until Aug-26 | ||
| STEPHANIA K(*) | Feeder | 22,563 | 1,800 | 2024 | TC until May-26 | ||
| MONICA(*) | Feeder | 22,563 | 1,800 | 2024 | TC until May-27 | ||
| PEPI STAR(*) | Feeder | 22,563 | 1,800 | 2024 | TC until Jun-26 | ||
| EM SPETSES(*) | Feeder | 23,224 | 1,740 | 2007 | TC until Feb-26 | ||
| JONATHAN P(*) | Feeder | 23,732 | 1,740 | 2006 | TC until Nov-25 | ||
| EM HYDRA(*) | Feeder | 23,351 | 1,740 | 2005 | TC until May-27 | ||
| Total Container Carriers on the Water | 22 | 859,330 | 67,494 | 听 | 听 | 听 | |
| Vessels under construction | Type | Dwt | TEU | To be delivered | Employment | TCE Rate ($/day) |
| ELENA (H1711) | Intermediate | 55,200 | 4,300 | Q4 2027 | 听 | 听 |
| NIKITAS G (H1712) | Intermediate | 55,200 | 4,300 | Q4 2027 | 听 | 听 |
| YZJ2024-1768 | Intermediate | 55,200 | 4,300 | Q1 2028 | 听 | 听 |
| YZJ2024-1769 | Intermediate | 55,200 | 4,300 | Q2 2028 | 听 | 听 |
| Total under construction | 4 | 220,800 | 17,200 | 听 | 听 | 听 |
Notes:听
(*)TC denotes time charter. Charter duration indicates the earliest redelivery date; all dates listed are the earliest redelivery dates under each TC unless the contract rate is lower than the current market rate in which cases the latest redelivery date is assumed; vessels with the latest redelivery date shown are marked by (+).
(**) Rate is net of commissions (which are typically 5
(***) The vessel is sold and is expected to be delivered to its new owners in the fourth quarter of 2025
About Euroseas Ltd.
Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 150 years. Euroseas trades on the NASDAQ Capital Market under the ticker ESEA.听
Euroseas operates in the container shipping market. Euroseas' operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements.听
The Company has a fleet of 22 vessels, including 15 Feeder containerships and 7 Intermediate containerships with a cargo capacity of 67,494 teu. After the sale of M/V Marcos V and the delivery of the four intermediate containership newbuildings in 2027 and 2028, Euroseas鈥� fleet will consist of 25 vessels with a total carrying capacity of 78,344 teu.
Forward Looking Statement
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the demand for containerships, competitive factors in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.听
Visit our website
| Company Contact | Investor Relations / Financial Media |
| Tasos Aslidis Chief Financial Officer Euroseas Ltd. 11 Canterbury Lane, Watchung, NJ 07069 Tel. (908) 301-9091 E-mail: [email protected] | Nicolas Bornozis Markella Kara Capital Link, Inc. 230 Park Avenue, Suite 1540 New York, NY 10169 Tel. (212) 661-7566 E-mail: [email protected] |
FAQ
What is the cost of Euroseas (NASDAQ:ESEA) new vessel orders in 2025?
When will Euroseas (NASDAQ:ESEA) receive delivery of its new containerships?
How many container vessels does Euroseas (NASDAQ:ESEA) currently operate?
What is the strategic rationale behind Euroseas (NASDAQ:ESEA) new vessel orders?
How will Euroseas (NASDAQ:ESEA) finance the new vessel construction?
