EUROSEAS has announced new time charter contracts for two of its 4,253-TEUers, the Synergy Antwerp and Synergy Keelung, reports Dubai's Shipping Herald.

Both charters are for a minimum period of 36 months and a maximum period of 39 months, at the option of the charterer, at a gross daily rate of $35,500.

The Synergy Antwerp will commence its charter after the completion of her present charter, expected sometime in May 2025. The Synergy Keelung will commence its charter after the completion of her present charter, expected in June 2025.

Said Euroseas chairman and CEO Aristides Pittas: "These charters continue to demonstrate the strong demand for feeder and intermediate size vessels by liner companies despite the possibility of potential rerouting of vessels back through the Suez Canal later in the year.

"We believe that charterers are willing to secure tonnage well in advance at very firm periods and rates, driven by the tight supply of feeder and intermediate containership vessels. This is largely due to their very limited orderbook and the fact that a large percentage of their fleet is older than 20 years.

"These specific contracts are expected to contribute US$57 million in EBITDA over the minimum contracted period, increasing our 2025 charter coverage to about 82 per cent, and our charter coverage for 2026 to about 45 per cent," Mr Pittas said.