Euroseas secures more than 95% of fleet days for rest of 2026

Nicosia, Cyprus. Nasdaq-listed containership owner Euroseas has secured contracts for more than 95 per cent of its available fleet days for the remainder of 2026, providing greater certainty over cash flows. The company’s fleet includes two Cyprus-flagged vessels operating under longer-term charters.

Charter coverage

Euroseas said its contracted coverage stood at 81 per cent for 2027 and 47 per cent for 2028, in addition to more than 95 per cent for the remainder of 2026.

Its 21-vessel fleet includes the Cyprus-flagged Synergy Oakland and Synergy Keelung, two 4,253-teu containerships, according to the company’s fleet records.

The Synergy Oakland is chartered at $33,500 per day until March 2029, while the Synergy Keelung is chartered at $35,500 per day until June 2028.

Second-quarter results

Profit attributable to controlling shareholders increased to $33.2 million in the second quarter of 2026, from $29.9 million in the corresponding quarter of 2025.

Adjusted earnings before interest, tax, depreciation and amortisation rose to $40.1 million, compared with $39.3 million a year earlier.

Revenue fell 1.2 per cent to $56.5 million, which the company attributed largely to operating an average of 21 vessels during the quarter, compared with 22 vessels in the second quarter of 2025.

The average time charter equivalent rate rose 3 per cent to $30,306 per vessel per day, from $29,420 a year earlier.

Drydocking costs

Euroseas recorded $0.2 million in costs for supplies ahead of future drydockings, compared with $1.7 million in the same quarter of 2025.

Chairman and chief executive Aristides Pittas said the first two quarters of 2026 were “two of our most profitable consecutive quarters of the last fifteen years”, supported by contracts at profitable rates and lower drydocking expenses.