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Maroussi, Athens, Greece - February 7, 2024 Euroseas Ltd. (NASDAQ:ESEA), an owner and operator of container vessels and provider of seaborne transportation for containerized cargoes, announced today that on February 6, 2024, it 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). The vessel is financed via a sale and leaseback agreement with a Japanese owner and bank. Following its delivery, M/V Tender Soul commenced an eight to ten months charter at a rate of $17,000/day. Aristides Pittas, Chairman and CEO of Euroseas commented: "We are very pleased to have taken delivery of M/V Tender Soul, the third vessel from our nine-vessel newbuilding program which includes three additional 2,800 teu and three 1,800 teu units, all modern fuel-efficient eco-design vessels with Tier III engines. It should be noted that M/V Tender Soul and the rest of our newbuildings are 40%+ more efficient than previous generation similar size non-eco ships. Thus, we look forward to the delivery of the remaining of our newbuildings that will help us reduce our carbon footprint. At the same time, we expect that the recent recovery in charter rates would benefit our vessels that are to be chartered or re-chartered in the next several months including the next scheduled deliveries from our newbuilding program. As always, we continue to monitor the secondhand and resale markets to identify accretive investment opportunities." Fleet Profile:. After the delivery of M/V Tender Soul, the Euroseas Ltd. fleet and employment profile will be as follows: 
Notes: (*) TC denotes time charter. All dates listed are the earliest redelivery dates under each time charter unless the contract rate is lower than the current market rate in which cases the latest redelivery date is assumed; vessels with the latest redelivery date shown are marked by (+). (**) The CONTEX (Container Ship Time Charter Assessment Index) has been published by the Hamburg and Bremen Shipbrokers' Association (VHBS) since October 2007. The CONTEX is a company-independent index of time charter rates for container ships. It is based on assessments of the current day charter rates of six selected container ship types, which are representative of their size categories: Type 1,100 TEU and Type 1,700 TEU with a charter period of one year, and the Types 2,500, 2,700, 3,500 and 4,250 TEU all with a charter period of two years. (***) Rate is net of commissions (commissions are, typically, 5-6.25%) About Euroseas Ltd.
Euroseas operates in the container shipping market. Euroseas' operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements. The Company has a fleet of 20 vessels, including 13 Feeder and 7 Intermediate containerships. Euroseas 20 containerships have a cargo capacity of 61,661 teu. On a fully-delivered basis of its vessels under construction, the Company's fleet will increase to 26 containerships with a cargo capacity of about 75,461 teu. Euroseas Ltd. Press Release 
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