The 24-26 month deal for the 1,740-TEU vessel is projected to generate $12.7 million in EBITDA over the minimum period.
Euroseas (ESEA) extended the time charter for its 1,740-TEU feeder containership M/V Jonathan P at a gross daily rate of $26,000 for 24 to 26 months. The contract begins after the vessel’s scheduled dry-dock in October.
The agreement follows a period of volatile charter rates in the feeder segment, with prior contracts averaging lower daily rates. The extension locks in revenue amid uncertain market conditions.
The deal is expected to contribute approximately $12.7 million in EBITDA over the minimum 24-month term.