The trend of sustained growth in the turnover of the container charterer Euroseas, which faded after the historical peak marked in the second quarter of last year, has changed sign in the first quarter of 2023 when basic revenues Time Charter, equal to 43.5 million dollars, showed a decrease of -7.8% on the first three months of 2022. Operating profit is piled to 29,7 million (+3.8%) and profit clearly to 28,7 million dollars (-3.9%).

The President and CEO of Euroseas, Aristides Pittas, explained that "during the first trimester and until mid-May 2023 ship charter rates container holders recorded a yield of 15-20% compared to at the low levels achieved, for most segments, in the February 2023. In the same period we were able to re-charter two of our ships, whose contracts had expired, for two-year and three-year rentals at rates higher than initially planned, demonstrating market resilience and the apparent belief of charterers that feeder ships they will be scarce. This is likely due to the fact that that, while the overall order book of the fleet hovers around at 30%, the orderbook of ships with a capacity of less than 6,000 TEU, i.e. the segment in which we mainly operate, is around 11%; the latter fact, combined with the highest percentage of ships over 20 years of age, suggests that the Fleet could even decrease in that segment." The fleet Euroseas, in fact, has a fleet consisting of 18 container ships with an average age of 17.4 years and a capacity ranging from 1,400 and 6,300 teu, for an average of 3,114 teu. In addition, the company has an order book that includes eight ships, of which five of the capacity of 2,800 teu and three of 1,800 teu.

"Of course, as we have mentioned several times in precedence - added Pittas - the largest ships They establish the general market trends, however the best Supply dynamics for feeder and intermediate vessels should provide a certain degree of comfort for shipowners like Euroseas."