Euroseas Ltd. has signed an agreement to build three 1,800 teu container vessels each with the Hyundai Mipo Dockyard Co. of Korea.

Ecologically designed ships are scheduled to be delivered in the first half of 2024, one in the first and two in the second quarter of that year. The total cost for the construction of the three ships is about 102 million dollars that the shipping company intends to finance with a combination of debt and equity.

Aristides Pittas, President and CEO of the Nasdaq listed company Euroseas, commented, among other things, that the new order comes as a follow-up to the previous one at the same shipyard, which concerned the construction of four containerships with a capacity of 2,800 teu each.


In a rather turbulent and uncertain economic and geopolitical environment, we remain very optimistic about the prospects of the container market, he added.

Euroseas in February of this year had ordered two more containerships, of the same capacity (1,800 teu) and from the same shipyard (Hyundai Mipo), for $ 85 million. Currently the fleet of the shipping company consists of 16 containerships (6 Intermediate and 10 Feeders), carrying capacity 50,371 teu and with the new orders its fleet will increase to 23 containerships, carrying capacity 66,971 teu.

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