The newbuilding container ship Stephania K has been taken on time charter by Euroseas Ltd, an owner and operator of container carrier vessels and provider of seaborne transportation for containerised cargoes.
The time charter of Stephania K, a fuel efficient 1,800TEU feeder containership currently under construction, is for a minimum of 23 months at a gross daily rate of $22,000.
The new charter will commence upon delivery of the vessel from the shipyard, which is expected to take place on 28 June 2024.
The acquisition was financed by a combination of the company’s own funds and a US$22.5 million loan provided by the National Bank of Fujairah.
The new ship is the sixth in a series of nine and the second of three 1,800TEU ships, with one of the largest liner companies.
Euroseas Ltd. was formed on 5 May 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’ operations are managed by Eurobulk Ltd, 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.
The Company has a fleet of 22 vessels, including 15 Feeder containerships and seven Intermediate containerships with a cargo capacity totalling 66,261TEU.
After the delivery of its four remaining feeder containership newbuildings in 2024, Euroseas’ fleet will consist of 26 vessels with a total carrying capacity of 75,461TEU.
