The EM Corfu will be chartered for a duration of 18 to 20 months at a daily gross rate of $28,000, subject to the charterer's discretion. Similarly, the Evridiki G will be chartered for a period of 14 to 16 months at a daily gross rate of $29,500, also at the charterer's option.

Aristides Pittas, Chairman and CEO of Euroseas, stated, "We are pleased to announce that our vessels, EM Corfu and Evridiki G, have secured extended charter contracts with a distinguished charterer for 18-20 months and 14-16 months, respectively, at highly favorable rates of $28,000 per day per vessel and $29,500 per day per vessel. These rates reflect the ongoing demand from liner companies to secure feeder vessels, which are anticipated to be in limited supply due to the current orderbook and the age profile of the segment."

These contracts are scheduled to take effect in February 2025, with the EM Corfu commencing mid-month and the Evridiki G starting at the beginning of the month.

Pittas further noted, "The specific charters will extend until the fifth special survey of the vessels, coinciding with their 25th anniversary. At that time, we will evaluate their economic viability in relation to the costs associated with completing their fifth special survey and drydocking. Over the minimum contract period, these two vessels are projected to generate approximately $20 million in EBITDA, thereby increasing our charter coverage for 2025 to over 70% and for 2026 to around 35%."