[6-K] EUROSEAS LTD. Current Report (Foreign Issuer)
Euroseas Ltd. announced a new time charter for its 2006-built 1,740 TEU feeder containership M/V Jonathan P for a minimum 11-month to maximum 12-month term starting November 17, 2025, at a gross daily rate of $25,000, a $5,000/day increase versus the vessel's prior rate. The contract is expected to contribute about $5.65 million of EBITDA over the minimum contracted period and raises the company’s charter coverage to 100% for the remainder of 2025 and roughly 70% for 2026. Euroseas currently reports a 22-vessel fleet (15 Feeder and 7 Intermediate containerships) with combined capacity of 67,494 TEU; after the planned sale of M/V Marcos V and delivery of four intermediate newbuildings in 2027–2028 the fleet would total 25 vessels and 78,344 TEU. The release reiterates standard forward-looking statement cautions about risks and uncertainties.
Euroseas Ltd. ha annunciato una nuova time charter per la sua nave feeder M/V Jonathan P, costruita nel 2006, da 1.740 TEU, per un periodo minimo di 11 mesi e massimo di 12 mesi, a partire dal 17 novembre 2025, a una tariffa lorda giornaliera di $25,000, ovvero un aumento di $5,000 al giorno rispetto alla tariffa precedente della nave. Il contratto dovrebbe contribuire a circa $5.65 million di EBITDA nel periodo minimo contrattualizzato e aumenta la copertura di charter al 100% per il resto del 2025 e a circa 70% per il 2026. Attualmente Euroseas riporta una flotta di 22 navi ( 15 feeder e 7 Intermediate ) con una capacità combinata di 67,494 TEU; dopo la prevista vendita di M/V Marcos V e la consegna di quattro nuovi navi intermedie tra il 2027–2028, la flotta sarebbe di 25 navi e 78,344 TEU. Il comunicato ribadisce le consuete cautele sulle dichiarazioni previsionali riguardo rischi e incertezze.
Euroseas Ltd. anunció una nueva time charter para su buque feeder M/V Jonathan P, construido en 2006, de 1.740 TEU, por un periodo mínimo de 11 meses a un máximo de 12 meses, que comenzará el 17 de noviembre de 2025, a una tarifa diaria bruta de $25,000, un incremento de $5,000 por día respecto a la tarifa anterior del buque. Se espera que el contrato contribuya aproximadamente con $5.65 millones de EBITDA durante el periodo mínimo contratado y eleva la cobertura de fletamento al 100% para el resto de 2025 y aproximadamente al 70% para 2026. Euroseas reporta actualmente una flota de 22 buques ( 15 feeder y 7 intermediate ) con una capacidad combinada de 67,494 TEU; tras la venta prevista de M/V Marcos V y la entrega de cuatro nuevos intermedios entre 2027 y 2028, la flota totalizaría 25 buques y 78,344 TEU. El comunicado reitera las advertencias estándar sobre declaración prospectiva en cuanto a riesgos e incertidumbres.
Euroseas Ltd.는 2006년생 1,740 TEU 피더 컨테이너선 M/V Jonathan P에 대한 새로운 타임커터를 발표했습니다. 기간은 최소 11개월에서 최대 12개월이며, 시작일은 2025년 11월 17일이고, 총일가가 $25,000로 설정되었으며 선박의 이전 요율 대비 $5,000 인상입니다. 이 계약은 최소 계약 기간 동안 약 $5.65백만 EBITDA를 기여할 것으로 보이며, 2025년 남은 기간에 대한 선박용선 커버리지를 100%, 2026년엔 대략 70%로 올립니다. 현재 Euroseas는 피더 15척, 인터미디어트 7척의 22척 함대를 운용하며 총 용량은 67,494 TEU입니다. M/V Marcos V 매각 예정과 2027–2028년 사이에 4척의 인터미디어트 신조를 인도하면 함대는 25척, 78,344 TEU가 될 것입니다. 발표문은 위험과 불확실성에 관한 일반적 예고 조항을 반복합니다.
Euroseas Ltd. a annoncé une nouvelle time charter pour son porte-conteneurs feeder M/V Jonathan P, construit en 2006, d’une capacité de 1 740 TEU, pour une période minimale de 11 mois à maximale de 12 mois, à partir du 17 novembre 2025, à un taux journalier brut de $25,000, soit une augmentation de $5,000 par jour par rapport au tarif antérieur du navire. Le contrat devrait contribuer à environ $5,65 millions d’EBITDA pendant la période minimale contractée et porte la couverture du charter à 100% pour le reste de 2025 et environ 70% pour 2026. Euroseas indique actuellement une flotte de 22 navires ( 15 feeder et 7 intermediate ) avec une capacité combinée de 67 494 TEU; après la vente prévue de M/V Marcos V et la livraison de quatre nouveaux navires intermédiaires en 2027–2028, la flotte compterait 25 navires et 78 344 TEU. Le communiqué réitère les avertissements standard relatifs aux déclarations prospectives concernant les risques et les incertitudes.
Euroseas Ltd. kündigte eine neue Time-Charter für die 2006 gebaute 1.740 TEU Feeder-Containerschiff M/V Jonathan P an, für eine Laufzeit von 11 Monaten bis 12 Monaten, beginnend am 17. November 2025, zu einer Bruttodagnote von $25.000 pro Tag, eine Steigerung von $5.000 pro Tag gegenüber dem früheren Tarif des Schiffes. Der Vertrag soll voraussichtlich etwa $5,65 Millionen EBITDA während des minimal vertraglich vereinbarten Zeitraums beitragen und die Charterabdeckung auf 100% für den Rest von 2025 sowie grob 70% für 2026 erhöhen. Euroseas meldet derzeit eine Flotte von 22 Schiffen (15 Feeder und 7 Intermediate) mit einer Gesamtkapazität von 67.494 TEU; nach dem geplanten Verkauf von M/V Marcos V und der Lieferung von vier neuen Intermediate-Neubauten 2027–2028 würde die Flotte 25 Schiffe und 78.344 TEU umfassen. Die Mitteilung bekräftigt die üblichen Warnhinweise zu zukunftsgerichteten Aussagen bezüglich Risiken und Unsicherheiten.
Euroseas Ltd. أعلنت عن عقد تأجير زمني جديد للسفينة الحاويات feeders M/V Jonathan P، من طراز 2006 وبسعة 1,740 TEU، لمدة لا تقل عن 11 شهراً ولا تتجاوز 12 شهراً، بدءاً من 17 نوفمبر 2025، وبمعدل يومي إجمالي قدره $25,000، بزيادة قدرها $5,000 في اليوم مقارنة بالسعر السابق للسفينة. من المتوقع أن يساهم العقد بنحو $5.65 مليون EBITDA خلال الفترة الدنيا المتعاقد عليها ويرفع تغطية التأجير إلى 100% لبقية عام 2025 ونحو 70% لعام 2026. تقارير Euroseas حالياً عن أسطول مكون من 22 سفينة (15 feeder و7 intermediate) بسعة مركبة قدرها 67,494 TEU؛ بعد البيع المتوقع لـ M/V Marcos V وتسليم أربعة أصول جديدة من فئة intermediate بين 2027 و2028، سيصبح الأسطول 25 سفينة وبسعة 78,344 TEU. يكرر البيان التحذيرات القياسية بشأن التصريحات المستقبلية المتعلقة بالمخاطر وعدم اليقين.
Euroseas Ltd. 宣布就其2006年建造的1,740 TEU feeder 货轮 M/V Jonathan P 订立新的时间租船，租期为最少 11个月至最多 12个月，自 2025年11月17日起生效，毛日租金为 $25,000，较船舶先前租金每天增加 $5,000。该合同在最短合同期内预计将贡献约 $5.65 million EBITDA，并将2025年剩余部分的租船覆盖率提升至 100%、2026年约为 70%。 Euroseas 目前报告拥有一支由 22 船组成的船队（15艘 feeder 和 7艘 intermediate），总容量为 67,494 TEU；在计划出售 M/V Marcos V 并在 2027–2028 年间交付四艘中间级新船后，船队将增至 25 艘船和 78,344 TEU。该新闻稿重申关于风险与不确定性的标准前瞻性声明的警示。
- $5,000/day increase in charter rate for M/V Jonathan P compared with the prior rate
- ~$5.65 million of EBITDA expected over the minimum contracted period
- 100% charter coverage of the fleet for the remainder of 2025 and approximately 70% coverage for 2026
- Fleet scale details disclosed: 22 vessels (67,494 TEU) and pro forma 25 vessels (78,344 TEU) after planned transactions
- Charter is short-term (minimum 11 months), so longer-term revenue visibility remains limited
- Vessel age noted: M/V Jonathan P is 2006-built, which may have higher operational or maintenance risks over time
- Forward-looking statements include standard risk disclosures that actual results may differ materially
Insights
TL;DR: A short-term, higher-rate charter boosts near-term cash generation and improves fleet coverage into 2026.
The 11–12 month charter at $25,000/day represents a material daily rate uplift for the M/V Jonathan P and will produce an estimated $5.65 million of EBITDA over the minimum term, which meaningfully improves near-term earnings visibility for a feeder vessel. Raising fleet coverage to 100% for the remainder of 2025 reduces spot market exposure in the short term and the ~70% coverage for 2026 provides partial revenue predictability while the company transitions with upcoming newbuild deliveries and a sale. The vessel is a 2006 build, so although the charter is positive, fleet age and replacement timing remain operational considerations.
TL;DR: The contract is accretive to EBITDA and improves revenue visibility, but is short-term by nature.
Expected EBITDA contribution of about $5.65 million over the minimum contracted period is a clear near-term earnings benefit tied to a $5,000/day rate increase versus prior charter levels. The announced fleet capacity figures and the planned change to 25 vessels and 78,344 TEU after the sale and newbuild deliveries provide tangible, company-stated scale metrics. However, the contract length (11–12 months) limits long-term certainty, and forward-looking statements in the release note material risks that could affect outcomes.
Euroseas Ltd. ha annunciato una nuova time charter per la sua nave feeder M/V Jonathan P, costruita nel 2006, da 1.740 TEU, per un periodo minimo di 11 mesi e massimo di 12 mesi, a partire dal 17 novembre 2025, a una tariffa lorda giornaliera di $25,000, ovvero un aumento di $5,000 al giorno rispetto alla tariffa precedente della nave. Il contratto dovrebbe contribuire a circa $5.65 million di EBITDA nel periodo minimo contrattualizzato e aumenta la copertura di charter al 100% per il resto del 2025 e a circa 70% per il 2026. Attualmente Euroseas riporta una flotta di 22 navi ( 15 feeder e 7 Intermediate ) con una capacità combinata di 67,494 TEU; dopo la prevista vendita di M/V Marcos V e la consegna di quattro nuovi navi intermedie tra il 2027–2028, la flotta sarebbe di 25 navi e 78,344 TEU. Il comunicato ribadisce le consuete cautele sulle dichiarazioni previsionali riguardo rischi e incertezze.
Euroseas Ltd. anunció una nueva time charter para su buque feeder M/V Jonathan P, construido en 2006, de 1.740 TEU, por un periodo mínimo de 11 meses a un máximo de 12 meses, que comenzará el 17 de noviembre de 2025, a una tarifa diaria bruta de $25,000, un incremento de $5,000 por día respecto a la tarifa anterior del buque. Se espera que el contrato contribuya aproximadamente con $5.65 millones de EBITDA durante el periodo mínimo contratado y eleva la cobertura de fletamento al 100% para el resto de 2025 y aproximadamente al 70% para 2026. Euroseas reporta actualmente una flota de 22 buques ( 15 feeder y 7 intermediate ) con una capacidad combinada de 67,494 TEU; tras la venta prevista de M/V Marcos V y la entrega de cuatro nuevos intermedios entre 2027 y 2028, la flota totalizaría 25 buques y 78,344 TEU. El comunicado reitera las advertencias estándar sobre declaración prospectiva en cuanto a riesgos e incertidumbres.
Euroseas Ltd.는 2006년생 1,740 TEU 피더 컨테이너선 M/V Jonathan P에 대한 새로운 타임커터를 발표했습니다. 기간은 최소 11개월에서 최대 12개월이며, 시작일은 2025년 11월 17일이고, 총일가가 $25,000로 설정되었으며 선박의 이전 요율 대비 $5,000 인상입니다. 이 계약은 최소 계약 기간 동안 약 $5.65백만 EBITDA를 기여할 것으로 보이며, 2025년 남은 기간에 대한 선박용선 커버리지를 100%, 2026년엔 대략 70%로 올립니다. 현재 Euroseas는 피더 15척, 인터미디어트 7척의 22척 함대를 운용하며 총 용량은 67,494 TEU입니다. M/V Marcos V 매각 예정과 2027–2028년 사이에 4척의 인터미디어트 신조를 인도하면 함대는 25척, 78,344 TEU가 될 것입니다. 발표문은 위험과 불확실성에 관한 일반적 예고 조항을 반복합니다.
Euroseas Ltd. a annoncé une nouvelle time charter pour son porte-conteneurs feeder M/V Jonathan P, construit en 2006, d’une capacité de 1 740 TEU, pour une période minimale de 11 mois à maximale de 12 mois, à partir du 17 novembre 2025, à un taux journalier brut de $25,000, soit une augmentation de $5,000 par jour par rapport au tarif antérieur du navire. Le contrat devrait contribuer à environ $5,65 millions d’EBITDA pendant la période minimale contractée et porte la couverture du charter à 100% pour le reste de 2025 et environ 70% pour 2026. Euroseas indique actuellement une flotte de 22 navires ( 15 feeder et 7 intermediate ) avec une capacité combinée de 67 494 TEU; après la vente prévue de M/V Marcos V et la livraison de quatre nouveaux navires intermédiaires en 2027–2028, la flotte compterait 25 navires et 78 344 TEU. Le communiqué réitère les avertissements standard relatifs aux déclarations prospectives concernant les risques et les incertitudes.
Euroseas Ltd. kündigte eine neue Time-Charter für die 2006 gebaute 1.740 TEU Feeder-Containerschiff M/V Jonathan P an, für eine Laufzeit von 11 Monaten bis 12 Monaten, beginnend am 17. November 2025, zu einer Bruttodagnote von $25.000 pro Tag, eine Steigerung von $5.000 pro Tag gegenüber dem früheren Tarif des Schiffes. Der Vertrag soll voraussichtlich etwa $5,65 Millionen EBITDA während des minimal vertraglich vereinbarten Zeitraums beitragen und die Charterabdeckung auf 100% für den Rest von 2025 sowie grob 70% für 2026 erhöhen. Euroseas meldet derzeit eine Flotte von 22 Schiffen (15 Feeder und 7 Intermediate) mit einer Gesamtkapazität von 67.494 TEU; nach dem geplanten Verkauf von M/V Marcos V und der Lieferung von vier neuen Intermediate-Neubauten 2027–2028 würde die Flotte 25 Schiffe und 78.344 TEU umfassen. Die Mitteilung bekräftigt die üblichen Warnhinweise zu zukunftsgerichteten Aussagen bezüglich Risiken und Unsicherheiten.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of September 2025
Commission File Number: 001-33283
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EUROSEAS LTD. |
(Translation of registrant’s name into English) |
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4 Messogiou & Evropis Street |
151 24 Maroussi, Greece |
(Address of principal executive office) |
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Attached to this Report on Form 6-K as Exhibit 1 is a copy of the press release issued by Euroseas Ltd. (the “Company”) on September 12, 2025: Euroseas Ltd. Announces 1-year Charter Contract Extension for its Feeder Containership, M/V Jonathan P.
This Report on Form 6-K (which includes Exhibit 1) is hereby incorporated by reference into the Company’s Registration Statement on Form F-3 (File No. 333-268708) filed with the U.S. Securities and Exchange Commission (the “Commission”) on December 7, 2022 and the Company’s Registration Statement on Form F-3 (File No. 333-269066) filed with the Commission on December 29, 2022.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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| EUROSEAS LTD. |
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Dated: September 15, 2025 | By: | /s/ Aristides J. Pittas |
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| Name: | Aristides J. Pittas |
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| Title: | President |
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Exhibit 1
![[f091525esea6k002.gif]](https://www.sec.gov/Archives/edgar/data/0001341170/000131786125000050/f091525esea6k002.gif)
Euroseas Ltd. Announces 1-year Charter Contract Extension for its Feeder Containership, M/V Jonathan P
Maroussi, Athens, Greece – September 12, 2025 – Euroseas Ltd. (NASDAQ: ESEA, the “Company” or “Euroseas”), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today a new time charter contract for its 2006-built 1,740 teu feeder containership, M/V Jonathan P, for a minimum period of 11 to a maximum period of 12 months, at the option of the charterer, at a gross daily rate of $25,000, in direct continuation of its current charter representing a $5,000 per day increase over the vessel’s current rate. The new charter period will commence on November 17, 2025 and is expected to contribute about $5.65 million of EBITDA over the minimum contracted period; the charter will increase charter coverage of the Company’s fleet to 100% in the remainder of 2025 and about 70% in 2026.
The Euroseas Ltd. fleet profile is currently as follows:
Name | Type | Dwt | TEU | Year Built | Employment (*) | TCE Rate ($/day) |
Container Carriers |
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MARCOS V(+)(***) | Intermediate | 72,968 | 6,350 | 2005 | TC until Oct-25 | $15,000 |
SYNERGY BUSAN(*) | Intermediate | 50,727 | 4,253 | 2009 | TC until Dec-27 | $35,500 |
SYNERGY ANTWERP(*) | Intermediate | 50,727 | 4,253 | 2008 | TC until May-28 | $35,500 |
SYNERGY OAKLAND(*) | Intermediate | 50,788 | 4,253 | 2009 | TC until May-26 | $42,000 |
SYNERGY KEELUNG(*) | Intermediate | 50,697 | 4,253 | 2009 | TC until Jun-28 | $35,500 |
EMMANUEL P(*) | Intermediate | 50,796 | 4,250 | 2005 | In Drydock, passing her special survey then TC until Sep-28 | $38,000 |
RENA P(*) | Intermediate | 50,765 | 4,250 | 2007 | TC until Aug-28 | $35,500 |
EM KEA(*) | Feeder | 42,165 | 3,100 | 2007 | TC until May-26 | $19,000 |
GREGOS(*) | Feeder | 38,733 | 2,800 | 2023 | TC until Apr-26 | $48,000 |
TERATAKI(*) | Feeder | 38,733 | 2,800 | 2023 | TC until Jul-26 | $48,000 |
TENDER SOUL(*) | Feeder | 38,733 | 2,800 | 2024 | TC until Oct-27 | $32,000 |
LEONIDAS Z(*) | Feeder | 38,733 | 2,800 | 2024 | TC until Mar-26 | $20,000 |
DEAR PANEL | Feeder | 38,733 | 2,800 | 2025 | TC until Nov-27 | $32,000 |
SYMEON P | Feeder | 38,733 | 2,800 | 2025 | TC until Nov-27 | $32,000 |
EVRIDIKI G(*) | Feeder | 34,654 | 2,556 | 2001 | TC until Apr-26 | $29,500 |
EM CORFU(*) | Feeder | 34,649 | 2,556 | 2001 | TC until Aug-26 | $28,000 |
STEPHANIA K(*) | Feeder | 22,563 | 1,800 | 2024 | TC until May-26 | $22,000 |
MONICA(*) | Feeder | 22,563 | 1,800 | 2024 | TC until May-27 | $23,500 |
PEPI STAR(*) | Feeder | 22,563 | 1,800 | 2024 | TC until Jun-26 | $24,250 |
EM SPETSES(*) | Feeder | 23,224 | 1,740 | 2007 | TC until Feb-26 | $18,100 |
JONATHAN P(*) | Feeder | 23,732 | 1,740 | 2006 | TC until Nov-25 then TC until Oct-26 | $20,000 $25,000 |
EM HYDRA(*) | Feeder | 23,351 | 1,740 | 2005 | TC until May-27 | $19,000 |
Total Container Carriers on the Water | 22 | 859,330 | 67,494 |
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Vessels under construction | Type | Dwt | TEU | To be delivered | Employment | TCE Rate ($/day) |
ELENA (H1711) | Intermediate | 55,200 | 4,300 | Q4 2027 |
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NIKITAS G (H1712) | Intermediate | 55,200 | 4,300 | Q4 2027 |
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YZJ2024-1768 | Intermediate | 55,200 | 4,300 | Q1 2028 |
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YZJ2024-1769 | Intermediate | 55,200 | 4,300 | Q2 2028 |
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Total under construction | 4 | 220,800 | 17,200 |
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Notes:
(*)TC denotes time charter. Charter duration indicates the earliest redelivery date; all dates listed are the earliest redelivery dates under each TC unless the contract rate is lower than the current market rate in which cases the latest redelivery date is assumed; vessels with the latest redelivery date shown are marked by (+).
(**) Rate is net of commissions (which are typically 5-6.25%)
(***) The vessel is sold and is expected to be delivered to its new owners in the fourth quarter of 2025
About Euroseas Ltd.
Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 150 years. Euroseas trades on the NASDAQ Capital Market under the ticker ESEA.
Euroseas operates in the container shipping market. Euroseas' operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements. The Company has a fleet of 22 vessels, including 15 Feeder containerships and 7 Intermediate containerships with a cargo capacity of 67,494 teu. After the sale of M/V Marcos V and the delivery of the four intermediate containership newbuildings in 2027 and 2028, Euroseas’ fleet will consist of 25 vessels with a total carrying capacity of 78,344 teu.
Forward Looking Statement
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for containerships, competitive factors in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Visit our website www.euroseas.gr
Company Contact | Investor Relations / Financial Media |
Tasos Aslidis Chief Financial Officer Euroseas Ltd. 11 Canterbury Lane, Watchung, NJ 07069 Tel. (908) 301-9091 E-mail: aha@euroseas.gr | Nicolas Bornozis Markella Kara Capital Link, Inc. 230 Park Avenue, Suite 1540 New York, NY 10169 Tel. (212) 661-7566 E-mail: euroseas@capitallink.com |
FAQ
What are the charter terms for M/V Jonathan P announced by Euroseas (ESEA)?
How much EBITDA does Euroseas expect from the new charter?
How does this charter affect Euroseas' fleet charter coverage for 2025 and 2026?
What is Euroseas' current fleet size and capacity?
What will Euroseas' fleet look like after planned transactions and deliveries?
