Euroseas Ltd. is expanding its shipbuilding programme after signing an agreement for the construction of two additional container vessels with a capacity of 1,800 TEUs.
The two vessels will be built at Nantong CIMC Sinopacific Offshore & Engineering in China, with delivery scheduled for December 2028 and March 2029. The total price for each vessel is approximately 32.26 million dollars and will be financed through a combination of debt and equity.
Aristides Pittas, Chairman and Chief Executive Officer of the NASDAQ-listed company, stated: “We are particularly pleased to announce the order of two additional gearless 1,800 TEU container vessels, sister ships to those we ordered in April 2026. These orders reflect our continued commitment to disciplined fleet renewal and modernization.”
He added that the feeder and sub-6,000 TEU container segment remains highly competitive, noting that limited orderbook activity in this segment and an ageing existing fleet continue to support investment interest and favourable underlying fundamentals.
The company also highlighted that it signed contracts for four additional feeder container vessels in April, further expanding its newbuilding programme as follows:
-Two additional specialized gearless 2,800 TEU high-reefer container vessels to be built at Huanghai Shipbuilding, following the exercise of an option on a previous order. Delivery is scheduled for October 2028 and January 2029, with a price of approximately 46.5 million dollars per vessel.
-Two gearless 1,800 TEU container vessels to be built at Nantong CIMC Sinopacific Offshore & Engineering, scheduled for delivery in June and September 2028, at an estimated cost of around 32.5 million dollars per vessel.
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