Euroseas orders LNG-ready containerships at Hyundai Mipo

Greek shipping firm Euroseas said it has ordered three LNG-ready feeder containerships at South Korean shipbuilder Hyundai Mipo.

Aristides Pittas-led Euroseas said in a statement on Monday it would pay about $102 million for the three 1,800-teu vessels.

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

Also, Hyundai Mipo will deliver the ships during the first half of 2024, one in the first and two in the second quarter of the year.

Euroseas did not provide any additional information regarding the propulsion of the ships.

With this order, the firm now has seven ships on order at Hyundai Mipo, including the recently ordered two 2,800-teu feeder ships.

“This order continues our strategy to further grow Euroseas in a manner that exploits the relative attractiveness of the newbuilding prices as compared to the price of secondhand vessels,” Pittas said in the statement.

“Furthermore, it builds on our commitment of having an environmentally friendly fleet and contributing to the de-carbonization effort of our industry,” he said.

“In a quite turbulent and uncertain economic and geopolitical environment, we remain very optimistic about the prospects of the container market,” Pittas added.

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