A shipping company called Euroseas has signed a new lease agreement for one of its container ships. The ship, called the M/V Synergy Busan, will be leased to another company for at least 36 months, but possibly up to 38 months. The lease price is $35,500 per day. The new lease starts in early December 2024 and continues from an existing lease agreement that the ship already has, reports Euroseas.
Fleet Profile
Aristides Pittas, Chairman and CEO of Euroseas commented: “We are very pleased to announce that M/V Synergy Busan has extended its charter contract with a top-class charterer for 36-38 months, at a profitable rate of $35,500/day. This fixture, a strong increase compared to last, demonstrates that activity is starting to pick up again and charter market terms remain healthy and firm. It also seems to indicate that our investment decision to retrofit the vessel with energy-saving devices (ESDs), installed during the ship’s drydock last year, is appreciated by the market and paying off. This charter is expected to contribute over about 29.0 million of EBITDA for the minimum contracted period and increase our remaining 2024 charter coverage to about 95%; it also increases our charter coverage for 2025 to about 50%.”
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Source: Euroseas
