Euroseas adds two containerships to orderbook

Greek shipping firm Euroseas said it has ordered two more feeder containerships at South Korean shipbuilder Hyundai Mipo.

Aristides Pittas-led Euroseas said in a statement on Monday it would pay about $86 million for the two 2,800-teu vessels.

The firm intends to finance the construction of the vessels with a combination of debt and equity.

Hyundai Mipo will deliver the ships during the fourth quarter of 2024.

Euroseas has exercised its option to proceed with the construction of two vessels following orders for four sister vessels in June 2021 and January this year.

According to Euroseas, it intends to upgrade the engines of all of its six 2,800-teu vessels
ordered to Tier III type from Tier II, and have the ships be LNG-ready where possible for a total incremental cost for all vessels of about $11 million.

Tier III type engine achieve lower NOx emissions, it said.

The firm recently ordered three LNG-ready 1,800-teu vessels at Hyundai Mipo as well.

With the latest order, Euroseas has nine containerships on order at the South Korean yard.

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