Nasdaq-listed Euroseas shipping company of Aristides Pittas, which operates a fleet of container vessels, agreed to buy the Seaspan Manila M / V and Seaspan Melbourne M / V, both container vessels built in 2007 and in 2005, respectively. The ships will be acquired for a total price of $ 37 million. The company will also undertake the existing charter agreements of the ships. Both acquisitions will be initially financed with the company’s own funds.
– M / V Seaspan Manila is expected to be delivered to the Company within July 2022 and has a charter contract until February 2025 with a fare of $ 20,250 per day until April 2024 and then based on the CONTEX index with a threshold $ 13,000 per day and a maximum of $ 21,000 per day by the end of the charter period.
M / V Seaspan Melbourne is expected to be delivered to the Company within June 2022 and has a charter contract until March 2025 with a fare of $ 19,000 per day.
Aristides Pittas, President and CEO of Euroseas commented, among other things, that the new charters of the two ships are expected to contribute more than about $ 20 to the EBITDA of Euroseas. Following the delivery of the above vessels, we will have a fleet of eighteen container vessels and a construction program of seven new containerships expected to be completed between the first quarter of 2023 and the second quarter of 2024.
Latest News
DBRS Says Greek Banks ‘Shielded’ from ECB Rate Cuts
The agency explains that fund disbursements through the banking sector will help offset pressures anticipated on interest margins beginning in 2025, due to expected rate cuts by the European Central Bank (ECB).
Meta Cuts Facebook and Instagram Subscription Fees by 40%
The social media giant also revealed that it will continue to offer free access to Facebook and Instagram for EU users, provided they agree to see ads based on a limited set of user data.
Skyrocketing Use of Debit, Credit Cards
The total value of the transactions conducted with debit and credit cards in the country in the first half of 2024 rose 2% on the corresponding period of 2023
JP Morgan Revised Greece Outlook to ‘Overweight’
The investment bank notes that Greece is showing the strongest GDP growth in the Eurozone. Additionally, efforts to clear up bank balance sheets are anticipated to yield increased capital returns.
Vardis I. Vardinogiannis, Greek Tycoon and Shipping Magnate, Dies at 91
In 1990, Vardinogiannis was targeted in an attack which involved three rockets fired at his vehicle by the terrorist organization 17 November.
Kudos for Greek Sheep’s Milk Cheeses
Graviera is the Greek version of the Swiss gruyère, and is generally considered the second most popular cheese made in the country after feta
EIB Survey: Greeks Rank Climate Change as Top Concern After Cost of Living
Specifically, 98% of the Greeks surveyed stated that the country must to adapt to climate change, with 60% saying that priority should be given to these adjustment measures
Trump Tells Putin not to Escalate Ukraine War during Phone Convo
Meanwhile, President Joe Biden, is preparing to lobby Trump against abandoning U.S. support for Kyiv
Former Thessaloniki Mayor Yiannis Boutaris Dies at 82
Boutaris entered politics in 2010, serving as the 60th mayor of Thessaloniki for two consecutive terms until 2019, becoming a transformative figure with his progressive policies.
Greece Plans to Link Golden Visa to Startup Investments
The Greek government wants to decouple the Golden Visa Program from Real Estate investments