Euroseas Ltd. (NASDAQ: ESEA) (the "Company"), an owner and operator of drybulk and container carrier vessels and provider of seaborne
transportation for drybulk and containerized cargoes, announced today that the Company took delivery of the M/V Xenia from Jiangsu Yangzijiang Shipbuilding Co. on February 26, 2016. The M/V Xenia is an "eco" design Kamsarmax fuel efficient drybulk carrier with a carrying capacity of 82,000 dwt. The M/V Xenia has commenced a time charter contract until January 2020 at a gross daily rate of $14,100 with a charterer's option to extend the charter for one additional year at a gross daily rate of $14,350.
The Company also announced today that it has entered into a time charter contract for the container vessel, Evridiki G, at a gross daily rate of $11,000 for a period of two years. The M/V Evridiki G is an Intermediate container carrier with a cargo capacity of 2,556 teu.