Tuesday, August 26, 2025
Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 140 years. Euroseas trades on the NASDAQ Capital Market under the ticker ESEA. Euroseas operates in the container shipping market. Euroseas’ operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Two new orders. Euroseas Ltd. executed a contract for the construction of two modern fuel-efficient 4,300 twenty-foot-equivalent unit container vessels that are expected to be delivered in March and May of 2028. The vessels will cost approximately $59.25 million each and will be financed with a combination of debt and equity. Currently, Euroseas has a fleet of 22 vessels, including 15 feeder containerships and seven intermediate containerships, with a cargo capacity of 67,494 twenty-foot equivalent units (TEU). After the sale of the M/V Marcos V and the delivery of four intermediate containerships in 2027 and 2028, Euroseas’ fleet will consist of 25 vessels with a total carrying capacity of 78,344 TEU.
Commitment to growth and modernization. The most recent orders demonstrate Euroseas’ commitment to growing and modernizing its fleet. Management believes that investing in eco intermediate-sized containerships, a segment with a low orderbook and an aging existing fleet, will enhance the company’s competitive position, enable it to capitalize on future market opportunities, and create value for shareholders.
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