Euroseas (NASDAQ: ESEA) locks in $26k/day charter adding millions in EBITDA

Rhea-AI Filing Summary

Euroseas Ltd. (ESEA) reports a new time charter contract extension for its 2006-built 1,740 TEU feeder containership M/V Jonathan P. The vessel has been fixed to the current charterer for a minimum 24 to maximum 26 months, at the charterer’s option, at a gross daily rate of $26,000.

The extended period is expected to start around the end of November 2026, after the vessel’s scheduled dry-dock, and will run in direct continuation of its current charter. The company states that this charter is expected to generate approximately $12.7 million of EBITDA over the minimum contracted period and increase charter coverage for 2026, 2027, and 2028 to about 97%, 86%, and 50%, respectively.

Euroseas currently operates a fleet of 21 containerships with a total capacity of 61,144 TEU. Including 12 newbuildings scheduled for delivery between 2027 and 2029, the fleet is expected to grow to 33 vessels with an aggregate capacity of 97,396 TEU, combining feeder and intermediate container carriers under mainly time charter employment.

Filing Explained

Beyond the charter extension, the 6-K states that its report and Exhibit 1—excluding the CEO’s commentary—are incorporated by reference into Euroseas’s Form F-3 registration statement, making this disclosure part of that filing.

Key Figures

M/V Jonathan P charter rate: $26,000 per day Expected EBITDA from M/V Jonathan P charter: $12.7 million Charter duration range: 24 to 26 months +5 more

8 metrics

M/V Jonathan P charter rate $26,000 per day Gross daily rate under the new 24–26 month time charter extension

Expected EBITDA from M/V Jonathan P charter $12.7 million EBITDA over the minimum 24-month contracted period of the new charter

Charter duration range 24 to 26 months Minimum and maximum term for the M/V Jonathan P charter at charterer’s option

Charter coverage 2026 97% Proportion of Euroseas’ fleet employment covered for 2026 including the new charter

Charter coverage 2027 86% Proportion of Euroseas’ fleet employment covered for 2027 including the new charter

Charter coverage 2028 50% Proportion of Euroseas’ fleet employment covered for 2028 including the new charter

Current fleet capacity 61,144 TEU Total cargo capacity of Euroseas’ existing 21-vessel fleet

Future fleet capacity after newbuildings 97,396 TEU Expected total capacity of 33 vessels after 2027–2029 newbuilding deliveries

Key Terms

time charter, EBITDA, TEU, dry-dock, +1 more

5 terms

time charter financial

"announced today a time charter contract extension for its 2006-built"

A time charter is an agreement where a ship owner rents out their vessel to a customer for a set period, during which the customer has control over the ship’s use and operation. This arrangement matters to investors because it provides a steady income stream for the ship owner and indicates ongoing demand for shipping services, reflecting the health of global trade and transportation markets.

EBITDA financial

"The charter is expected to generate approximately $12.7 million of EBITDA"

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

TEU financial

"its 2006-built 1,740 teu feeder containership, M/V Jonathan P"

TEU stands for twenty-foot equivalent unit, a standard measure of containerized cargo capacity equal to one 20-foot long shipping container. Investors use TEUs to compare the size, throughput and utilization of ships, ports and logistics networks—think of it as counting parking spots for containers—which affects revenue potential, shipping costs and the flow of goods that influence supply chains and company earnings.

dry-dock technical

"will commence approximately at the end of November 2026, following the completion of the vessel’s scheduled dry-dock"

A dry-dock is a facility where a ship or large floating asset is taken out of the water so its hull, engines and systems can be inspected, repaired, maintained or upgraded. For investors it matters because dry-docking requires planned downtime, direct repair and upgrade costs, and sometimes regulatory inspections — similar to putting a truck in the shop for major service — all of which can temporarily reduce revenue and affect cash flow and asset value.

forward-looking statements regulatory

"This press release contains forward-looking statements (as defined in Section 27A"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

FAQ

What charter contract did Euroseas Ltd. (ESEA) announce for the M/V Jonathan P?

Euroseas announced a time charter extension for its 1,740 TEU feeder containership M/V Jonathan P for a minimum 24 to maximum 26 months at a gross daily rate of $26,000, starting around the end of November 2026 after the vessel’s scheduled dry-dock.

How much EBITDA is the new M/V Jonathan P charter expected to generate for ESEA?

Euroseas states that the charter extension for M/V Jonathan P is expected to generate approximately $12.7 million of EBITDA over the minimum 24-month contracted period, contributing to its forward charter coverage.

What is Euroseas Ltd. (ESEA)’s charter coverage after this contract extension?

Euroseas reports that, including the new M/V Jonathan P charter, its charter coverage is about 97% for 2026, 86% for 2027, and 50% for 2028, reflecting contracted employment of its containership fleet for those years.

What is the current size and capacity of Euroseas Ltd. (ESEA)’s operating fleet?

Euroseas operates a fleet of 21 containerships, comprising 15 feeder and 6 intermediate vessels, with a combined cargo capacity of 61,144 TEU, employed on spot and period charters and through pool arrangements.

How will Euroseas Ltd. (ESEA)’s fleet change after its newbuildings are delivered?

After delivery of 4 intermediate and 8 feeder containership newbuildings between 2027 and 2029, Euroseas expects its fleet to consist of 33 vessels with a total carrying capacity of 97,396 TEU.

What are the main characteristics of the M/V Jonathan P under the new charter?

M/V Jonathan P is a 2006-built, 1,740 TEU feeder containership with 23,732 dwt. Under the new time charter, it will earn a $26,000/day gross rate for 24–26 months, commencing around late November 2026 in direct continuation of its current charter.

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Form 6-K: How Foreign Companies Report to the SEC →

Available on EDGAR 08/25/2026 - 05:16 PM Accepted by SEC EDGAR 08/25/2026 - 05:16 PM Learn about SEC filing dates

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 August 2026

Commission File Number: 001-33283

EUROSEAS LTD.

(Translation of registrant’s name into English)

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 August 25, 2026: Euroseas Ltd. Announces 2-Year Charter Contract Extension for its Feeder Containership, M/V Jonathan P.

This Report on Form 6-K (which includes Exhibit 1), excluding the commentary by Chief Executive Officer Aristides Pittas, 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.

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.

	EUROSEAS LTD.
Dated: August 25, 2026	By:	/s/ Aristides J. Pittas
	Name:	Aristides J. Pittas
	Title:	President

Exhibit 1

Euroseas Ltd. Announces 2-Year Charter Contract Extension for its Feeder Containership, M/V Jonathan P

Maroussi, Athens, Greece – August 25, 2026 – 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 time charter contract extension for its 2006-built 1,740 teu feeder containership, M/V Jonathan P, for a minimum period of 24 to a maximum period of 26 months, at the option of the charterer, at a gross daily rate of $26,000. The new period will commence approximately at the end of November 2026, following the completion of the vessel’s scheduled dry-dock, and will run in direct continuation of the current charter contract.

Aristides Pittas, Chairman and CEO of Euroseas, commented: “We are very pleased to announce the extension of the time charter contract for our feeder containership, M/V Jonathan P, in direct continuation of her present charter, for 24-26 months at a profitable rate of $26,000/day. Despite the typical summer slowdown and ongoing geopolitical uncertainty, the containership charter market has remained active with strong operator demand and limited vessel availability continuing to firm charter terms both in terms of rates and contract periods. The charter is expected to generate approximately $12.7 million of EBITDA over the minimum contracted period and increases our charter coverage for 2026, 2027, and 2028 to about 97%, 86% and 50%, respectively.”

             Fleet Profile:

The Euroseas Ltd. fleet profile is currently as follows:

Name	Type	Dwt	TEU	Year Built	Employment (*)	TCE Rate ($/day)
Container Carriers
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 Mar-29	$33,500
SYNERGY KEELUNG(*)	Intermediate	50,697	4,253	2009	TC until Jun-28	$35,500
EMMANUEL P(*)	Intermediate	50,796	4,250	2005	TC until Sep-28	$38,000
RENA P(*)	Intermediate	50,765	4,250	2007	TC until Jul-28	$35,500
EM KEA(*)	Feeder	42,165	3,100	2007	TC until Jul-29	$30,000
GREGOS(*)	Feeder	38,733	2,800	2023	TC until Mar-29	$30,000
TERATAKI(*)	Feeder	38,733	2,800	2023	TC until Jun-29	$30,000
TENDER SOUL(*)	Feeder	38,733	2,800	2024	TC until Oct-27	$32,000
LEONIDAS Z (*)	Feeder	38,733	2,800	2024	TC until Apr-29	$30,000
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 Oct-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 Jul-28	$25,500
MONICA(*)	Feeder	22,563	1,800	2024	TC until May-27	$23,500
PEPI STAR(*)	Feeder	22,563	1,800	2024	TC until Aug-28	$25,500
EM SPETSES(*)	Feeder	23,224	1,740	2007	TC until Feb-28	$21,500
JONATHAN P(*)	Feeder	23,732	1,740	2006	TC until Oct-26 then until Nov-28	$25,000 $26,000
EM HYDRA(*)	Feeder	23,351	1,740	2005	TC until May-27	$19,000
Total Container Carriers on the Water	21	786,362	61,144

Vessels under construction	Type	Dwt	TEU	To be delivered	Employment	TCE Rate ($/day)
ELENA (**)	Intermediate	56,266	4,484	Q3 2027	TC until Jun-31	$35,500
NIKITAS G (**)	Intermediate	56,266	4,484	Q4 2027	TC until Sep-31	$35,500
THRYLOS (**)(***)	Intermediate	56,266	4,484	Q1 2028	TC until Feb-32	$35,500
SOCRATES CH (**)	Intermediate	56,266	4,484	Q2 2028	TC until Apr-32	$35,500
DANAI	Feeder	35,100	2,798	Q2 2028
NENI	Feeder	35,100	2,798	Q3 2028
SPYROS CH	Feeder	23,850	1,781	Q2 2028
GAVROS	Feeder	23,850	1,781	Q3 2028
TONIS M	Feeder	35,100	2,798	Q4 2028
SWEET EVELINA	Feeder	35,100	2,798	Q1 2029
MANGY	Feeder	23,850	1,781	Q4 2028
PANTELIS LUCK	Feeder	23,850	1,781	Q3 2029
Total under construction	12	460,864	36,252

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 (+).

(**) Charterer has the option to convert to a five-year charter at $32,500/day for the entire period. (***) The entity owning the vessel is 51% owned by Euroseas Ltd. and 49% by NRP Investors.

             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 21 vessels, including 15 Feeder containerships and 6 Intermediate containerships with a cargo capacity of 61,144 teu. After the delivery of four intermediate and eight feeder containership newbuildings between 2027 and 2029, Euroseas’ fleet will consist of 33 vessels with a total carrying capacity of 97,396 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