Euroseas Ltd. Announces a New Time Charter Contract for its 2001-built 2,556 teu Feeder Containership, M/V EM Corfu, and the Sale of its Sister Vessel, M/V Evridiki G
Euroseas secured a 12-14 month time charter for its 2001-built 2,556 teu feeder M/V EM Corfu at $62,500/day, expected to commence mid-December 2026 after dry-dock. The charter should generate roughly $17.8 million of EBITDA over the minimum term and lifts charter coverage to about 100% for 2026, 91% for 2027, and 49% for 2028.
Key figures
- Deal Value Usd
- 26000000
- Gain on sale usd
- 22500000
- Charter ebitda usd
- 17800000
- Charter coverage 2026
- about 100%
- Charter coverage 2027
- 91%
- Charter coverage 2028
- 49%
- Gain on sale per share
- 3.19
- Charter duration months
- 12-14
- Charter rate usd per day
- 62500
AI analysis
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