Benzinga | Sep 7, 2021 09:12AM EDT

Euroseas Ltd. Announces Agreement To Acquire A 1,740 teu Container Vessel And Agreement To Enter Into A Three-Year Charter For The Vessel

Euroseas Ltd. (NASDAQ:ESEA, the &quot, Company&quot, or &quot, Euroseas&quot, ))))), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today announced today that it has agreed to acquire M/V Piraeus Trader, a 1,740 teu container feeder vessel built in 2006, for $25.5 million. The vessel, which is expected to be delivered to the Company within October 2021 and be renamed M/V Jonathan P, will be financed by own funds and a bank loan. Contemporaneously with the acquisition, the vessel will enter into a three-year time charter contract for about $26,700 per day net to the Company.