Euroseas Ltd. has announced a new time charter contract for its 2001-built 2,556 teu feeder containership, M/V EM Corfu, alongside the sale of its sister vessel, M/V Evridiki G. This strategic move is significant for the company as it aims to bolster its revenue and operational efficiency.

The time charter for M/V EM Corfu is set for a minimum of 12 months, extendable to 14 months at the charterer's option, at a gross daily rate of $62,500. The charter is expected to commence in mid-December 2026, following the vessel's scheduled dry-dock.

Euroseas has also agreed to sell M/V Evridiki G for approximately $26 million. The vessel is expected to be delivered to its new owners upon completion of its current charter at the end of October 2026.

Aristides Pittas, Chairman and CEO of Euroseas, expressed optimism about the new charter contract, stating, "We are pleased to announce a new time charter contract for our feeder containership, M/V EM Corfu, for 12-14 months at a profitable rate of $62,500/day. The charter is expected to generate approximately $17.8 million of EBITDA over the minimum contracted period and increases our charter coverage for 2026, 2027, and 2028 to about 100%, 91%, and 49%, respectively."

Pittas also highlighted the sale of M/V Evridiki G, noting, "We are pleased to announce the sale of M/V Evridiki G, for $26 million, a price we consider very attractive for a vessel of this vintage. We expect to record a gain on sale of approximately $22.5 million, or about $3.19 per share." He emphasized the company's commitment to maximizing financial returns for shareholders through strategic evaluations of employment and sale opportunities for older vessels.

Euroseas Ltd., operating in the deep-sea foreign transportation of freight sector, has positioned itself to enhance its fleet profile and financial performance through these recent developments. The company’s fleet will continue to include various container carriers, ensuring a robust operational capacity moving forward.

Details were not available in the SEC filing regarding future actions or additional filings related to these transactions.