Latest news with #Euroseas
Yahoo
5 days ago
- Business
- Yahoo
Euroseas Ltd. Announces three-year Charter Contract for its Intermediate Containership, M/V Emmanuel P
ATHENS, Greece, June 03, 2025 (GLOBE NEWSWIRE) -- 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 that it has secured a new time charter contract for its 4,250 teu intermediate containership, M/V Emmanuel P built in 2005, for a minimum period of 36 to a maximum period of 38 months, at the option of the charterer, at a gross daily rate of $38,000. The new charter period is expected to commence upon delivery of the vessel from the shipyard, following the completion of her scheduled drydock and the installation of energy saving devices, both of which are expected in the first half of September of 2025. Aristides Pittas, Chairman and CEO of Euroseas commented: 'We are very pleased to announce a new time charter contract for our intermediate containership, M/V Emmanuel P, with a top-tier charterer for 36-38 months at a profitable rate of $38,000 per day. Amidst a shortage of tonnage, this fixture sets a higher rate level than 'last done' and serves as a strong testament to the continued strength of the containership market, as well as the trust main market players place on Euroseas's commercial, technical and commercial management. This charter is expected to generate more than $32.0 million in EBITDA, over the minimum contracted period and increase our charter coverage to approximately 97% for 2025, 67% for 2026 and 40% for 2027. In parallel, our average contracted daily rate increases to about $28,700 for the remainder of 2025 and further increases to more than $31,000 per day in 2026 and more than $33,000 per day in 2027, providing significant visibility into our future cash flows and earnings.' Fleet Profile: The Euroseas Ltd. fleet profile, after the new charter of MV Emmanuel P, is currently as follows: Name Type Dwt TEU Year Built Employment (*) TCE Rate ($/day) Container Carriers MARCOS V(+)(***) Intermediate 72,968 6,350 2005 TC until Oct-25 $15,000 SYNERGY BUSAN(*) Intermediate 50,726 4,253 2009 TC until Dec-27 $35,500 SYNERGY ANTWERP(*) Intermediate 50,726 4,253 2008 TC until May-28 $35,500 SYNERGY OAKLAND(*) Intermediate 50,787 4,253 2009 TC until May-26 $42,000 SYNERGY KEELUNG(+)(*) Intermediate 50,969 4,253 2009 TC until Jun-25then until Jun-28 $23,000$35,500 EMMANUEL P(+)(*) Intermediate 50,796 4,250 2005 TC until Aug-25then until Sep-28 $21,000$38,000 RENA P(+) Intermediate 50,796 4,250 2007 TC until Aug-25then until Aug-28 $21,000$35,500 EM KEA(*) Feeder 42,165 3,100 2007 TC until May-26 $19,000 GREGOS(*) Feeder 37,237 2,800 2023 TC until Apr-26 $48,000 TERATAKI(*) Feeder 37,237 2,800 2023 TC until Jul-26 $48,000 TENDER SOUL(*) Feeder 37,237 2,800 2024 TC until Oct-27 $32,000 LEONIDAS Z(*) Feeder 37,237 2,800 2024 TC until Mar-26 $20,000 DEAR PANEL Feeder 37,237 2,800 2025 TC until Nov-27 $32,000 SYMEON P Feeder 37,237 2,800 2025 TC until Nov-27 $32,000 EVRIDIKI G(*) Feeder 34,677 2,556 2001 TC until Apr-26 $29,500 EM CORFU(*) Feeder 34,654 2,556 2001 TC until Aug-26 $28,000 STEPHANIA K(*) Feeder 22,262 1,800 2024 TC until May-26 $22,000 MONICA(*) Feeder 22,262 1,800 2024 TC until May-27 $23,500 PEPI STAR(*) Feeder 22,262 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 23,357 1,740 2006 TC until Sep-25 $20,000 EM HYDRA(*) Feeder 23,351 1,740 2005 TC until May-27 $19,000 Total Container Carriers on the Water 22 849,404 67,494 Vessels under construction Type Dwt TEU To be delivered Employment TCE Rate ($/day) ELENA (H1711) Intermediate 55,200 4,300 Q4 2027 NIKITAS G (H1712) Intermediate 55,200 4,300 Q4 2027 Total under construction 2 110,400 8,600 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 140 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 two intermediate containership newbuildings in 2027, Euroseas' fleet will consist of 23 vessels with a total carrying capacity of 69,744 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 Company Contact Investor Relations / Financial Media Tasos AslidisChief Financial OfficerEuroseas Ltd.11 Canterbury Lane,Watchung, NJ 07069Tel. (908) 301-9091E-mail: aha@ Nicolas BornozisMarkella KaraCapital Link, Inc.230 Park Avenue, Suite 1540New York, NY 10169Tel. (212) 661-7566E-mail: euroseas@
Business Insider
5 days ago
- Business
- Business Insider
Euroseas secures new time charter contract for M/V Emmanuel P
Euroseas (ESEA) announced that it has secured a new time charter contract for its 4,250 teu intermediate containership, M/V Emmanuel P built in 2005, for a minimum period of 36 to a maximum period of 38 months, at the option of the charterer, at a gross daily rate of $38,000. The new charter period is expected to commence upon delivery of the vessel from the shipyard, following the completion of her scheduled drydock and the installation of energy saving devices, both of which are expected in the first half of September of 2025. Confident Investing Starts Here:
Yahoo
30-05-2025
- Business
- Yahoo
Euroseas Ltd. Announces Agreement to Sell its 2005-built 6,350 teu Intermediate Containership, M/V Marcos V
ATHENS, Greece, May 29, 2025 (GLOBE NEWSWIRE) -- 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 that it has signed an agreement to sell M/V Marcos V, an 6,350 teu intermediate containership built in 2005, to an unaffiliated third party, for $50 million. The vessel is scheduled to be delivered to its buyer in October 2025. The Company is expected to recognize a gain on the sale in excess of $8.50 million, or $1.20 per share. Aristides Pittas, Chairman and CEO of Euroseas commented: 'We are pleased to announce our agreement to sell our M/V Marcos V for a total price consideration of $50 million. The vessel was acquired in Q4 2021 for $40m, attached with a time charter contract at a rate of $42,000 per day for three years, plus a fourth year at the option of the charterer at $15,000 per day which was exercised. M/V Marcos V, upon its delivery to its new owners in October 2025, will have generated exceptional returns to our shareholders, realizing more than five times our original equity investment.' Fleet Profile: The Euroseas Ltd. fleet profile is currently as follows: Name Type Dwt TEU Year Built Employment (*) TCE Rate ($/day) Container Carriers MARCOS V(+)(***) Intermediate 72,968 6,350 2005 TC until Oct-25 $15,000 SYNERGY BUSAN(*) Intermediate 50,726 4,253 2009 TC until Dec-27 $35,500 SYNERGY ANTWERP(*) Intermediate 50,726 4,253 2008 TC until May-28 $35,500 SYNERGY OAKLAND(*) Intermediate 50,787 4,253 2009 TC until May-26 $42,000 SYNERGY KEELUNG(+)(*) Intermediate 50,969 4,253 2009 TC until Jun-25then until Jun-28 $23,000$35,500 EMMANUEL P(+) Intermediate 50,796 4,250 2005 TC until Aug-25 $21,000 RENA P(+) Intermediate 50,796 4,250 2007 TC until Aug-25then until Aug-28 $21,000$35,500 EM KEA(*) Feeder 42,165 3,100 2007 TC until May-26 $19,000 GREGOS(*) Feeder 37,237 2,800 2023 TC until Apr-26 $48,000 TERATAKI(*) Feeder 37,237 2,800 2023 TC until Jul-26 $48,000 TENDER SOUL(*) Feeder 37,237 2,800 2024 TC until Oct-27 $32,000 LEONIDAS Z(*) Feeder 37,237 2,800 2024 TC until Mar-26 $20,000 DEAR PANEL Feeder 37,237 2,800 2025 TC until Nov-27 $32,000 SYMEON P Feeder 37,237 2,800 2025 TC until Nov-27 $32,000 EVRIDIKI G(*) Feeder 34,677 2,556 2001 TC until Apr-26 $29,500 EM CORFU(*) Feeder 34,654 2,556 2001 TC until Aug-26 $28,000 STEPHANIA K(*) Feeder 22,262 1,800 2024 TC until May-26 $22,000 MONICA(*) Feeder 22,262 1,800 2024 TC until May-27 $23,500 PEPI STAR(*) Feeder 22,262 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 23,357 1,740 2006 TC until Sep-25 $20,000 EM HYDRA(*) Feeder 23,351 1,740 2005 TC until May-27 $19,000 Total Container Carriers on the Water 22 849,404 67,494 Vessels under construction Type Dwt TEU To be delivered Employment TCE Rate ($/day) ELENA (H1711) Intermediate 55,200 4,300 Q4 2027 NIKITAS G (H1712) Intermediate 55,200 4,300 Q4 2027 Total under construction 2 110,400 8,600 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 140 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 two intermediate containership newbuildings in 2027, Euroseas' fleet will consist of 23 vessels with a total carrying capacity of 69,744 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 Company Contact Investor Relations / Financial Media Tasos AslidisChief Financial OfficerEuroseas Ltd.11 Canterbury Lane,Watchung, NJ 07069Tel. (908) 301-9091E-mail: aha@ Nicolas BornozisMarkella KaraCapital Link, Inc.230 Park Avenue, Suite 1540New York, NY 10169Tel. (212) 661-7566E-mail: euroseas@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-05-2025
- Business
- Yahoo
Is Euroseas (ESEA) Stock Undervalued Right Now?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks. Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks. In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment. One company to watch right now is Euroseas (ESEA). ESEA is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock holds a P/E ratio of 2.62, while its industry has an average P/E of 6.60. ESEA's Forward P/E has been as high as 5.39 and as low as 1.91, with a median of 3.06, all within the past year. Another notable valuation metric for ESEA is its P/B ratio of 0.77. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 1.43. Over the past 12 months, ESEA's P/B has been as high as 1.08 and as low as 0.55, with a median of 0.81. Finally, investors should note that ESEA has a P/CF ratio of 1.99. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 4.08. Within the past 12 months, ESEA's P/CF has been as high as 2.64 and as low as 1.43, with a median of 2.01. These are just a handful of the figures considered in Euroseas's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that ESEA is an impressive value stock right now. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Euroseas Ltd. (ESEA) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-04-2025
- Business
- Yahoo
Live Webinar on the Container Shipping Sector with Senior Executives from Publicly Listed Companies: Thursday, April 24, 2025, at 11 a.m. ET
NEW YORK, April 16, 2025 (GLOBE NEWSWIRE) -- Capital Link will host a live webinar on Thursday, April 24, 2025, at 11 a.m. Eastern Time discussing the Container shipping sector. This is part of the Capital Link Shipping Sector Webinar Series, which provides periodic updates on the main shipping sectors. REGISTRATIONOnline attendance is complimentary. Please click on the link below to Registration FEATURED PANELISTS Mr. Aristides Pittas, Chairman & CEO - Euroseas Ltd. (NASDAQ: ESEA) Mr. Thomas Lister, CEO - Global Ship Lease, Inc. (NYSE: GSL) Mr. Moritz Fuhrmann, Co-CEO & CFO - MPC Container Ships ASA (OSLO: MPCC) MODERATED BY Mr. Ken Hoexter, Managing Director | Co-Head Industrials Research - Bank of America WEBINAR OVERVIEWThe discussion will focus on the latest market trends and dynamics in the container shipping sector, including evolving supply and demand patterns, market fluctuations, geopolitical challenges, the anticipated impact of tariff policies, environmental and regulatory changes. The panelists will share their perspectives on the key drivers shaping the outlook of the container shipping sector. WEBINAR STRUCTUREThe webinar will last for a total of one hour and will consist of a 45-minute roundtable discussion among the moderator and the panelists followed by a 15-minute Q&A session replying to questions from participants. Q&A – SUBMITTING QUESTIONS Participants can submit questions to the panelists prior to or during the event through the Q&A feature on the event page, or they can email them to us at questions@ 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 140 years. 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. Euroseas 22 containerships have a cargo capacity of 67,494 teu. After the delivery of the two intermediate containership newbuildings in 2027, Euroseas' fleet will consist of 24 vessels with a total carrying capacity of 76,094 teu. Euroseas shares trade on the NASDAQ Capital Market under the symbol 'ESEA' For more information about Euroseas Ltd., please visit About Global Ship LeaseGlobal Ship Lease is a leading independent owner of containerships with a diversified fleet of mid-sized and smaller containerships. Incorporated in the Marshall Islands, Global Ship Lease commenced operations in December 2007 with a business of owning and chartering out containerships under fixed-rate charters to top tier container liner companies. It was listed on the New York Stock Exchange in August 2008. The Company's fleet of 71 vessels as of December 31, 2024, had an average age weighted by TEU capacity of 17.6 years. In November 2024, Global Ship Lease agreed to purchase the Newly Acquired Vessels. Three were delivered in December 2024 and the fourth in January 2025. In addition, during December 2024 they agreed to sell an older vessel, Tasman (5,936 TEU built 2000), with expected delivery in late March 2025. In February 2025, GSL agreed to sell two more vessels, Akiteta (2,220 TEU built 2002), which was delivered to her new owners on February 19th, 2025, and Keta (2,207 TEU, built 2003), with expected delivery in March 2025. As of the date of this release, the Company has 71 vessels with an average age weighted by TEU capacity of 17.5 years. 40 ships are wide-beam Post-Panamax. As of December 31, 2024, including the last Newly Acquired Vessel, Czech, delivered on January 9, 2025, and all charters agreed during 2024 and through February 28, 2025, the average remaining term of the Company's charters, to the mid-point of redelivery, including options under the Company's control and other than if a redelivery notice has been received, was 2.3 years on a TEU-weighted basis. Contracted revenue on the same basis was $1.88 billion. Contracted revenue was $2.37 billion, including options under charterers' control and with latest redelivery date, representing a weighted average remaining term of 2.9 years. Global Ship Lease shares trade on the New York Stock Exchange under the symbol 'GSL' For more information about Global Ship Lease please visit About MPC Container ShipsMPC Container Ships ASA (ticker code "MPCC") is a leading container tonnage provider focusing on small to mid-size container ships. Its main activity is to own and operate a portfolio of container ships serving intra-regional trade lanes on fixed-rate charters. MPC Container Ships ASA shares trade on the Oslo Exchange under the symbol 'MPCC' For more information about MPC Container Ships ASA, please visit FORWARD-LOOKING STATEMENTSThese webinars and presentations may contain "forward-looking statements." Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "projects," "forecasts," "may," "will," "should" and similar expressions are forward-looking statements. These statements are not historical facts but instead represent only the beliefs of each participating Company regarding future results, many of which, by their nature are inherently uncertain and outside of the control of the Companies. Actual results may differ, possibly materially, from those anticipated in these forward-looking statements. For more information about risks and uncertainties associated with the participating companies, please refer to the regulatory filings of each participating company with the SEC. ORGANIZER DISCLAIMER – CAPITAL LINK, in 1995, Capital Link provides Investor & Public Relations and Media services to several listed and private companies, including companies featured in these webinars. Our webinars, including the ones mentioned above, are for informational and educational purposes and should not be relied upon. They do not constitute an offer to buy or sell securities or investment advice or advice of any kind. The views expressed are not those of Capital Link which bears no responsibility for them. In addition, Capital Link organizes a series of industry and investment conferences annually in key industry centers in the United States, Europe and Asia, all of which are known for combining rich educational and informational content with unique marketing and networking opportunities. Capital Link is a member of the Baltic Exchange. Based in New York City, Capital Link has presence in London, Athens & Oslo. For additional information please visit: FOR FURTHER INFORMATION ON CAPITAL LINK'S WEBINARS AND PODCASTS PLEASE CONTACT:NEW YORKMr. Nicolas Bornozis/Ms. Anny ZhuTel. +1 212 661 7566Email: forum@ in to access your portfolio
