Euroseas Ltd. has announced a new time charter contract for the vessel M/V Jonathan P. The agreement, which starts in November 2025, will last for a minimum of 11 months and a maximum of 12 months.
Charter Details and Financial Impact
The new charter rate is set at a gross daily rate of $25,000, which represents a $5,000 per day increase from the vessel’s current rate. This is expected to generate approximately $5.65 million in EBITDA over the minimum contracted period. This new contract increases the company’s fleet charter coverage to 100% for the remainder of 2025 and about 70% for 2026.
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Source: Euroseas
