Euroseas Stock Price, News & Analysis

Euroseas Ltd. (NASDAQ: ESEA), a container vessel operator and seaborne transportation provider, held its 2025 Annual General Meeting on July 23, 2025 in Washington, DC. Shareholders approved two key proposals: the re-election of George Taniskidis and Apostolos Tamvakakis as Class C Directors for a three-year term until 2028, and the appointment of Deloitte Certified Public Accountants, S.A. as the company's independent auditors for fiscal year 2025.

Euroseas Ltd. (NASDAQ: ESEA), a container vessel operator and seaborne transportation provider, has announced its upcoming Annual Meeting of Shareholders. The meeting is scheduled for July 23, 2025, at 11:00 a.m. and will be held at Seward & Kissel LLP's offices in Washington, DC.

Shareholders of record as of June 25, 2025 will be eligible to participate and vote at the meeting. The company has made its proxy materials, including the annual report on Form 20-F with audited financial statements for FY2024, available on its website. Shareholders can also request hard copies of these materials free of charge.

Euroseas Ltd. reported strong Q1 2025 financial results with total net revenues of $56.3M, up 20.6% YoY, and net income of $36.9M ($5.31 EPS). The company declared a $0.65 quarterly dividend payable July 16, 2025. Operating an average of 23.71 vessels during Q1, they achieved a time charter equivalent rate of $27,563 per day. Notable developments include completing the spin-off of three subsidiaries into Euroholdings Ltd., signing an agreement to sell M/V Marcos V for $50M with expected $8.5M gain, and continuing their share repurchase program with 463,074 shares bought for $10.5M. The company maintains strong charter coverage with almost 100% for 2025 and over 65% for 2026, while benefiting from favorable market conditions in the feeder and intermediate containership segments despite industry challenges.

Euroseas Ltd. (NASDAQ: ESEA), a container vessel operator and seaborne transportation provider, has scheduled the release of its Q1 2025 financial results for June 18, 2025, before the New York market opens. The company will host a conference call and webcast on the same day at 9:30 a.m. ET to discuss the results. Participants can join via US Toll-Free (877 405 1226) or International dial-in (+1 201 689 7823) using conference ID 13754421. A live webcast with accompanying slides will be available on the company's website, with participants advised to register 10 minutes before the start. The presentation will be accessible in PDF format on www.euroseas.gr under the Investor Relations section.

Euroseas Ltd. (NASDAQ: ESEA) has secured a new 36-38 month time charter contract for its 4,250 TEU containership M/V Emmanuel P at a daily rate of $38,000. The charter will commence in September 2025 after scheduled drydock and energy-saving device installations. This contract is expected to generate over $32.0 million in EBITDA during the minimum contracted period. The new charter enhances Euroseas' charter coverage to 97% for 2025, 67% for 2026, and 40% for 2027. The company's average contracted daily rates are set to increase to $28,700 for the remainder of 2025, over $31,000 in 2026, and exceeding $33,000 in 2027, providing strong visibility into future earnings.

Euroseas Ltd. (NASDAQ: ESEA) has announced the sale of its M/V Marcos V, a 6,350 TEU intermediate containership built in 2005, for $50 million. The vessel, which was acquired in Q4 2021 for $40 million, will be delivered to its new owners in October 2025. The company expects to recognize a significant gain of over $8.50 million, or $1.20 per share, from the sale. The vessel has been operating under a time charter contract at $42,000 per day for three years, with a fourth year option at $15,000 per day that was exercised. According to CEO Aristides Pittas, the investment has generated exceptional returns, realizing more than five times the original equity investment.

Euroseas (NASDAQ: ESEA) has secured a new time charter contract for its 1,800 teu feeder containership, M/V Monica. The vessel will be chartered for a minimum period of 24 months to a maximum of 26 months at a gross daily rate of $23,500, commencing between late April to mid-May 2025.

The charter is expected to generate approximately $12.1 million in EBITDA over the minimum contracted period. This agreement increases Euroseas' charter coverage to about 94% for 2025 and 58% for 2026. The company's fleet currently consists of 22 container carriers on the water with a total capacity of 67,494 TEU, plus 2 vessels under construction scheduled for delivery in Q4 2027.

Euroseas (NASDAQ: ESEA) has announced two significant developments: a charter contract extension and a corporate spin-off. The company has secured a 35-37 month extension for its 4,250 teu vessel M/V Rena P at a daily rate of $35,500, starting August 21, 2025. This charter is expected to generate approximately $29.0 million in EBITDA over the minimum contracted period.

Additionally, Euroseas has completed the spin-off of three subsidiaries into EuroHoldings (NASDAQ: EHLD). The new entity includes two older vessels (M/V Aegean Express and M/V Joanna) and proceeds from the previous sale of M/V Diamantis P. The spin-off became effective March 18, 2025, with EuroHoldings operating independently and focusing on investing in older vessels across various maritime sectors.

The charter extension increases Euroseas' coverage to approximately 88% for 2025 and 54% for 2026.

Euroseas (NASDAQ: ESEA) has announced key dates for the spin-off of its subsidiary Euroholdings The registration statement is expected to be effective around March 6, 2025, with Euroholdings approved for NASDAQ Capital Market listing under symbol 'EHLD'.

Shareholders of record as of March 7, 2025, will receive one Euroholdings share for every 2.5 Euroseas shares on the Distribution Date of March 17, 2025. Post spin-off, Euroseas will maintain its fleet of 22 feeder and intermediate-size container vessels, while Euroholdings will independently operate two elder vessels.

The strategic separation aims to enable distinct investment strategies and shareholder distributions. Euroseas will focus on younger vessels with lower environmental impact, investing in retrofits and fuel-efficient containerships. Euroholdings will manage older vessels and explore opportunities in other maritime sectors.