Euroseas Ltd., an owner and operator of container carrier vessels and provider of seaborne transportation for
containerized cargoes, announced today that it has declared its options for the construction of two additional modern fuel-efficient, gearless 1,800 teu container vessels to be built at Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd (CIMC SOE) in China.
The vessels are scheduled to be delivered in December of 2028 and March of 2029. The total consideration for each vessel is approximately $32.26 million and will be financed with a combination of debt and equity.
It is understood that Euroseas initially signed a contract with CIMC SOE in April 2026 for the construction of 2+2 crane-less 1,800-TEU feeder container ships. The first two vessels are expected to be delivered in June and September 2028, with each ship costing approximately $32.5 million. With the exercise of this option, the number of new vessels the shipping company has on order with CIMC SOE has increased to four, with a total construction cost of nearly $130 million.
Aristides Pittas, Chairman and CEO of Euroseas commented: “We are very pleased to announce the ordering of two additional 1,800 teu gearless containerships, sisterships to the two we ordered in April of 2026.
These orders reflect our continued commitment to disciplined fleet modernization and renewal. The feeder and sub-6000 teu containership market remains particularly tight. Combined with a low orderbook for this segment and an ageing existing fleet, we continue to see a compelling business case for investing in this vessel category and believe the structural fundamentals remain favorable.”