Euroseas Ltd. Announces Delivery of M/V Terataki, An Eco 2,800 teu Feeder Containership Newbuilding, And Commencement Of The Vessel's Charter
Portfolio Pulse from Happy Mohamed
Euroseas Ltd. (NASDAQ:ESEA) has taken delivery of its M/V Terataki, a 2,800 teu feeder containership newbuilding from Hyundai Mipo Dockyard Co. The vessel, equipped with a Tier III engine and other sustainability features, was financed with a combination of own funds and a sustainability-linked loan from National Bank of Greece S.A. The vessel has commenced a 36 to 40 months charter with Asyad Lines. The company expects the charter to contribute over $42 million of EBITDA to the company.
July 06, 2023 | 8:08 pm
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Euroseas Ltd. has taken delivery of a new eco-friendly containership, M/V Terataki, which has already started a profitable charter. This aligns with the company's strategy of investing in modern, energy-efficient vessels.
The delivery of the new vessel and the commencement of its charter is a positive development for Euroseas Ltd. It not only expands the company's fleet but also aligns with its strategy of investing in modern, energy-efficient vessels. The charter is expected to contribute significantly to the company's EBITDA, which could positively impact the company's financial performance and potentially its stock price.
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