Benzinga | Jan 18, 2022 09:08AM EST

Euroseas Ltd. Announces New Charter For Its 2,788 teu, 2004-built vessel, M/V "EM Astoria"

ATHENS, Greece, Jan. 18, 2022 (GLOBE NEWSWIRE) -- Euroseas Ltd. (NASDAQ:ESEA, the &quot, Company&quot, or &quot, Euroseas&quot, ))))), an owner and operator of container vessels and provider of seaborne transportation for containerized cargoes, announced today a new charter of its container vessel M/V "EM Astoria".



Specifically:

* M/V "EM Astoria", a 2,788 TEU vessel built in 2004, entered into a new time charter contract for a period of between a minimum of thirty-six and a maximum of thirty-eight months at the option of the charterer, at a daily rate of $65,000 for the first twelve months, followed by a daily rate of $50,000 for the subsequent twelve months and followed by a daily rate of $20,000 for the remaining twelve to fourteen month period of the charter resulting in an average daily rate of about $45,000 for the duration of the charter. The new charter will commence in February 2022 after the completion of the present charter of the vessel.