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Euroseas Ltd.(Marshall Islands) - ESEA STOCK NEWS

Welcome to our dedicated page for Euroseas Ltd.(Marshall Islands) news (Ticker: ESEA), a resource for investors and traders seeking the latest updates and insights on Euroseas Ltd.(Marshall Islands) stock.

Euroseas Ltd. (Marshall Islands) (symbol: ESEA) is a prominent shipping company listed on the Nasdaq Stock Exchange. Established on May 5, 2005, the company consolidates the ship owning interests of the Pittas family from Athens, Greece, which boasts over 150 years in the shipping business. Euroseas Ltd. primarily operates a fleet of 21 vessels, including containerships, that transport container boxes and provide scheduled services between various ports.

The core business of Euroseas Ltd. revolves around the efficient and reliable transportation of goods across seas. The company's operations are managed by an affiliated ship management company, which handles day-to-day commercial and technical management, ensuring the vessels operate smoothly and efficiently. Euroseas Ltd. employs its vessels through spot and period charters, as well as pool arrangements to maximize their utility and profitability.

Recent advancements and upgrades have been a key focus for Euroseas Ltd. The company has installed various energy-saving devices and modern technology on its fleet, including:

  • New bulbous bow
  • Lighter propeller
  • Hub vortex absorbed fins (HVAF)
  • Pre-shrouded vanes (PSV)
  • Silicone coating of the ship’s underwater parts
  • LED lights
  • Auto pilot upgrade with advanced ecology control
  • Jacket pre-heater auto control

These innovations are not only aimed at enhancing the performance and efficiency of the vessels but also at promoting environmental sustainability. The company's commitment to providing top-notch shipping services while delivering superior returns to its shareholders remains unwavering.

As part of its growth strategy, Euroseas Ltd. continues to expand and modernize its fleet. The delivery of new vessels like M/V Monica is expected to further bolster the company's operational capacity and service offerings.

Euroseas Ltd. is dedicated to maintaining high standards of safety, efficiency, and environmental responsibility in all its operations. By leveraging its extensive experience and strategic investments in technology, the company aims to remain a leader in the global shipping industry.

News

Euroseas Ltd. Announces Two-Year Time Charter Contract for its Fuel Efficient 2,800 teu Feeder Containership Newbuilding, M/V Leonidas Z, Commencing upon its Delivery

Rhea-AI Summary
Euroseas Ltd. (NASDAQ: ESEA) has entered into a time charter contract for M/V LEONIDAS Z, a newbuilding fuel efficient 2,800 teu feeder containership, for a minimum of 23 to a maximum of 25 months at a gross daily rate of $20,000. The charter will start upon vessel delivery in April or May 2024. Chairman and CEO, Aristides Pittas, highlighted the profitable charter with a major liner company, leveraging the strong market conditions.
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Euroseas Ltd. Reports Results for the Year and Quarter Ended December 31, 2023 and increases dividend by 20% to $0.60 per share

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Euroseas Ltd. (ESEA) reported strong financial results for the fourth quarter of 2023, with total net revenues of $49.1 million and net income of $24.7 million. The company declared a quarterly dividend of $0.60 per share. Average time charter equivalent rate was $29,266 per day.
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Euroseas Ltd. Sets Date for the Release of Fourth Quarter 2023 Results, Conference Call and Webcast

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Euroseas Ltd. (NASDAQ: ESEA) will release its Q4 2023 financial results on February 21, 2024. A conference call and webcast will follow to discuss the results.
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Euroseas Ltd. Announces Delivery of M/V Tender Soul, an Eco 2,800 teu Feeder Containership Newbuilding, and Commencement of the Vessel’s Charter

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Euroseas Ltd. has taken delivery of its M/V Tender Soul, an Eco EEDI Phase 3, 2,800 teu feeder containership newbuilding from Hyundai Mipo Dockyard Co. in South Korea. The vessel is equipped with a Tier III engine and other sustainability linked features including installation of AMP (alternative maritime power). It is financed via a sale and leaseback agreement with a Japanese owner and bank, and has commenced an eight to ten months charter at a rate of $17,000/day. The company's fleet and employment profile, as well as vessels under construction, are also detailed in the press release.
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Euroseas Ltd. to Participate at Capital Link’s Corporate Presentation Series

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Euroseas Ltd. (NASDAQ: ESEA) will participate in Capital Link’s Corporate Presentation Webinar Series on January 18, 2024. The senior management team will present the company’s current operations, business development, growth prospects, and sector outlook. Participants can register for the webinar and submit questions for a live Q&A session. Institutional investors can also request 1-on-1 meetings with company management.
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Euroseas Ltd. Announces Time Charter Contract for its Fuel-Efficient 2,800 teu Feeder Containership, M/V Tender Soul, to be delivered in February 2024

Rhea-AI Summary
Euroseas Ltd. (NASDAQ: ESEA) has entered into a time charter contract for M/V TENDER SOUL, a newbuilding fuel-efficient 2,800 teu feeder containership, at a gross daily rate of $17,000. The charter will commence in February 2024, contributing to the company's revenue.
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Euroseas Ltd. Announces Completion of Works on Retrofitting Several Items Aiming to improve the Efficiency on its Feeder Containership, M/V Synergy Busan

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Euroseas Ltd. (NASDAQ: ESEA) has completed the installation of 'energy saving devices' on its 4,250 teu feeder containership, M/V Synergy Busan, to improve consumption in the commercial speed range.
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Euroseas Ltd. Reports Results for the Nine-Month Period and Quarter Ended September 30, 2023

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Euroseas Ltd. (NASDAQ: ESEA) reports strong financial performance with total net revenues of $50.7 million and net income of $32.2 million for the third quarter of 2023. The company also declared a quarterly dividend of $0.50 per share.
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Euroseas Ltd. Sets Date for the Release of Third Quarter 2023 Results, Conference Call and Webcast

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Euroseas Ltd. will release its financial results for Q3 2023 on November 9, 2023. The company's management will host a conference call and webcast to discuss the results at 10:00 a.m. Eastern Time. Participants can dial in using the provided numbers or register for the call using the call me option. The conference call and accompanying slides will be available through the company's website.
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Euroseas Ltd. Reports Results for the Six-Month Period and Quarter Ended June 30, 2023

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FAQ

What is the current stock price of Euroseas Ltd.(Marshall Islands) (ESEA)?

The current stock price of Euroseas Ltd.(Marshall Islands) (ESEA) is $34.22 as of December 20, 2024.

What is the market cap of Euroseas Ltd.(Marshall Islands) (ESEA)?

The market cap of Euroseas Ltd.(Marshall Islands) (ESEA) is approximately 231.1M.

What is Euroseas Ltd.?

Euroseas Ltd. is a shipping company that operates a fleet of containerships, providing scheduled services between ports.

When was Euroseas Ltd. established?

Euroseas Ltd. was established on May 5, 2005, under the laws of the Republic of the Marshall Islands.

What stock exchange is Euroseas Ltd. listed on?

Euroseas Ltd. is listed on the Nasdaq Stock Exchange under the symbol ESEA.

How many vessels does Euroseas Ltd. own?

Euroseas Ltd. owns a fleet of 21 vessels, either directly or through joint ventures.

What types of charters does Euroseas Ltd. employ for its vessels?

Euroseas Ltd. employs its vessels on spot and period charters, as well as through pool arrangements.

What are some of the recent upgrades made to the Euroseas Ltd. fleet?

The company has installed various energy-saving devices and modern technology, including new bulbous bows, lighter propellers, and LED lights.

Who manages the operations of Euroseas Ltd. vessels?

The operations of Euroseas Ltd. vessels are managed by an affiliated ship management company responsible for commercial and technical management.

What is the goal of Euroseas Ltd.?

The goal of Euroseas Ltd. is to provide first-class shipping services while delivering superior returns to its shareholders.

What is the historical background of the Pittas family in the shipping business?

The Pittas family from Athens, Greece, has been in the shipping business for over 150 years.

What environmental initiatives has Euroseas Ltd. implemented?

Euroseas Ltd. has implemented several environmental initiatives, including the installation of energy-saving devices and advanced ecology control systems on their vessels.

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Euroseas Ltd.(Marshall Islands)

Nasdaq:ESEA

ESEA Rankings

#3737 Ranked by Market Cap
#385 Ranked by Dividends

ESEA Stock Data

231.10M
2.81M
59.87%
7.85%
0.11%
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