Euroseas secures charter extension for Jonathan P

Euroseas has secured a time charter extension for its feeder containership Jonathan P.

The 1,740 TEU vessel will remain on charter for a minimum of 24 months and a maximum of 26 months, at the charterer’s option.

The new contract carries a gross daily rate of US$26,000. It will begin around the end of November 2026, following the vessel’s scheduled dry-docking, and will continue directly from its current charter.

Jonathan P was built in 2006.

“We are very pleased to announce the extension of the time charter contract for our feeder containership Jonathan P, in direct continuation of her present charter, for 24 to 26 months at a profitable rate of US$26,000 per day,” said Aristides Pittas, Chairman and CEO of Euroseas.

“Despite the typical summer slowdown and ongoing geopolitical uncertainty, the containership charter market has remained active, with strong operator demand and limited vessel availability continuing to support charter terms in both rates and contract periods,” he added.

Euroseas expects the charter to generate approximately US$12.7 million in EBITDA during the minimum contracted period.

Following the agreement, the company’s charter coverage stands at approximately 97% for 2026, 86% for 2027 and 50% for 2028.

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