The container ship owner and operator Euroseas Ltd. (NASDAQ: ESEA), which also offers seaborne transportation for containerized cargoes, stated today that it took delivery of the M/V Gregos, a green 2,800 teu feeder containership, from Hyundai Mipo Shipyard Co. in South Korea on April 6, 2023. The boat has a Tier III engine, is EEDI Phase 3 certified, and has additional sustainability-related elements including the installation of AMP (alternative maritime power). Combining private money with a sustainability-linked loan from Eurobank S.A., the acquisition was funded. After being delivered, M/V Gregos began a 36–40 month charter with Asyad Lines, as reported by Global News Wire.
Fuel-efficient eco-design
Chairman and CEO of Euroseas Aristides Pittas stated: “We are very pleased to have taken delivery of M/V Gregos, the first vessel from our nine-vessel newbuilding programme. This programme includes five additional 2,800 teu and three 1,800 teu units, all modern fuel-efficient, eco-design vessels with Tier III engines. The M/V Gregos has already begun a charter that is anticipated to generate more than $42 million in EBITDA (or roughly $6 in EBITDA per share) for the company throughout the course of its existence.”
“Following the containership market’s rebound during 2021 and 2022, our overall strategy has been to grow the company in a manner that creates value for our shareholders and adheres to our ESG commitment of having a more environmentally friendly fleet. In that respect, it is noteworthy that M/V Gregos and the rest of our new buildings are 40%+ more efficient than the previous generation of similar-size non-eco ships. We look forward to the delivery of the remaining of our new buildings and continue to monitor the markets to identify accretive opportunities for our shareholders.”
Fleet Profile:
After the delivery of M/V Gregos, the Euroseas Ltd. fleet and employment profile will be as follows:
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Source: Global News Wire
