9 hours ago
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Euroseas Ltd., a company active in the container shipping sector, reported strong performance in the first quarter of 2025 while it approved a dividend distribution to its shareholders.
Chairman and CEO Aristides Pittas stated that the containership market saw a notable upturn, with freight rates rising for both smaller feeder vessels and larger ship classes.
He highlighted that the company’s positive momentum has continued into the second quarter, significantly boosting operations. Nearly 100% of charter coverage for 2025 and over 65% for 2026 has already been secured.
Euroseas recently sold the M/V Marcos V and is exploring further fleet modernization initiatives.
Despite challenges from an oversupply of large vessels and ongoing geopolitical tensions, prospects remain positive for smaller containerships—Euroseas’ main focus—thanks to limited newbuilding activity and an aging global fleet.
Pittas also stated that Euroseas is planning to retrofit another of its secondhand vessels with energy-saving devices. This upgrade aims to improve operational efficiency and ensure compliance with environmental standards.
At the same time, the company transferred two of its oldest vessels to the newly established Euroholdings, a subsidiary with an independent strategic and investment approach.
The company’s Board of Directors approved maintaining the quarterly dividend at 0.65 euros per share. The ongoing share buyback program also continues, with management emphasizing that the stock is trading at a significant discount to its net asset value.
“We remain committed to investments that generate sustainable value for our shareholders,” Pittas emphasized.
Greek (GR) · 
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