Shippingtelegraph: Euroseas fixes 2-Year Charter Contract Extension for 1740 TEU Mv Jonathan P

Published by shippingtelegraph

Greece’s Euroseas boxship owner, listed on Nasdaq stock exchange, led by Aristides Pittas disclosed details of a time charter contract extension for its 2006-built 1,740 teu feeder containership M/V Jonathan P.

Euroseas informs that the time charter contract is 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.

“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,” says Aristides Pittas, Chairman and CEO of Euroseas.