10 Dec 2025by Georgios Georgiou
The strong demand for feeder container ships has enabled Aristides Pittas–led Euroseas to forward-fix three vessels on long-term, “profitable” contracts
The US-listed Greek owner has secured new charter agreements for 2023-built Gregos and Terataki, as well as 2024-built Leonidas Z (all 2,800 TEU). Each vessel has been fixed for 35–37 months at a gross daily rate of US$30,000.
Gregos and Terataki remain employed until April and July 2026, respectively, under their current US$48,000-per-day charters. The new deals extend their employment through the first half of 2029. Leonidas Z, which is earning US$20,000 per day until March 2026, has likewise been fixed through 2029.
The new periods are scheduled to commence immediately upon redelivery from their existing charters.
Euroseas expects the charters to generate approximately US$75M in EBITDA over the minimum contractual period. The fixtures also increase the company’s charter coverage to about 83% for 2026, 67% for 2027 and 42% for 2028.
Eyeing growth opportunities
Euroseas chief executive Aristides Pittas said the new contracts were signed with a top-tier charterer.
“These fixtures demonstrate the strong underlying demand for the feeder container segment, helping to keep the charter market for such vessels at high levels and firm despite global uncertainties,” Mr Pittas said.
“Securing these charters greatly increases our revenue and earnings visibility well into 2029, allowing us to concentrate on evaluating further growth opportunities.”
Euroseas currently operates a fleet of 21 container vessels and is progressing with a newbuilding programme for four additional units scheduled for delivery through Q2 2028.
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