Shipping company Euroseas announced on Tuesday that it has signed a regular lease agreement for a feeder container ship with an unnamed "top liner", with a total carrying capacity of 1732 TEUs, which is expected to begin its two-year lease after its scheduled drydock completion in October 2024. This vessel was built in 1999 and has a 25-year-old hull. Euroseas expects the lease to contribute at least $6.4 million in pre-tax depreciation profit (EBITDA) and increase its 2024 lease coverage rate to 92% and its 2025 lease coverage rate to 40%.
According to the news from Zhitong Finance APP, shipping company Euroseas (ESEA.US) announced on Tuesday that it has signed a regular lease agreement for a feeder container ship of 1732 TEUs with an unnamed "top liner", with an average daily rent of $0.165 million.
It is reported that the two-year lease for the feeder container ship named "Joanna" with a carrying capacity of 1732 TEUs will begin after its scheduled drydock completion in October 2024. This vessel was built in 1999 and has a 25-year-old hull. Euroseas expects the lease to contribute at least $6.4 million in pre-tax depreciation profit (EBITDA) and increase its 2024 lease coverage rate to 92% and its 2025 lease coverage rate to 40%.
Euroseas also announced that it has received its second feeder container ship, the "Stephania K" with a carrying capacity of 1800 TEUs, from South Korea and has started the previously arranged lease agreement at a daily rent of $0.022 million.