Euroseas extends charters for M/V Stephania K and M/V Pepi Star

Euroseas Ltd has secured charter contract extensions for two of its 1,800 TEU feeder containerships, M/V Stephania K and M/V Pepi Star, both built in 2024. The new contracts run for a minimum of 24 months and a maximum of 26 months at the charterer’s option, at a gross daily rate of $25,500.

Contract details

The new charter periods commence on July 28, 2026 for the Stephania K and August 19, 2026 for the Pepi Star, in direct continuation of their current contracts. Both vessels were built by Hyundai. The extensions are expected to generate approximately $27 million of combined EBITDA over the minimum contracted period.

Charter coverage

The fixtures increase Euroseas’ charter coverage to approximately 96% for 2026, 86% for 2027 and 48% for 2028.

“We are very pleased to announce that we have extended the time charter contracts for our Hyundai-built sister vessels, M/V Stephania K and M/V Pepi Star with a top-tier charterer, in direct continuation of their present charters, for 24-26 months at a profitable rate of $25,500 per day. This fixture demonstrates the continued demand for tonnage and the underlying strength of the containership charter market.

The strong rate also reflects the premium that modern, fuel-efficient tonnage can command — especially in the current geopolitical environment, where the disruption of oil flows through the Strait of Hormuz has tightened global bunker fuel availability and driven prices higher, making eco-vessels increasingly attractive to charterers” said Aristides Pittas, chairman and chief executive officer, Euroseas.

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