Euroseas orders boxship brace in China

Greek boxship owner Euroseas is expanding its fleet with a pair of 4,300 teu newbuilds in China.

The Nasdaq-listed firm has contracted Jiangsu Yangzi Xinfu Shipbuilding for the project, costing about $120m.

Aristides Pittas-led Euroseas said in its quarterly earnings report the ships would be delivered in the fourth quarter of 2027, adding to a pair of 2,800 teu newbuilds under construction at HD Hyundai Mipo in South Korea delivering in 2025.

Explaining the expansion of Euroseas’ newbuilding program, Pitas said that in contrast to a relatively high orderbook in the larger containership segment, the orderbook for feeder and intermediate units is very modest against a fleet age profile that includes a high percentage of vessels older than twenty years.

In addition to the four new ships set to join the fleet, the company has 23 units on the water.