Euroseas announces one-year charter contract for M/V Jonathan P
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 07 2024
0mins
Should l Buy ESEA?
Charter Contract Announcement: Euroseas has secured a time charter contract for its 1,732 teu feeder containership, M/V Jonathan P, for a period of 11 to 13 months at a daily rate of $20,000.
Contract Commencement: The new charter is set to begin after the vessel's scheduled intermediate survey, anticipated to be completed around mid-to-end of October 2024.
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Analyst Views on ESEA
Wall Street analysts forecast ESEA stock price to rise
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 58.900
Low
65.00
Averages
70.00
High
75.00
Current: 58.900
Low
65.00
Averages
70.00
High
75.00
About ESEA
Euroseas Ltd. is engaged in the shipping business. The Company is an owner and operator of drybulk and container carrier vessels and is a provider of seaborne transportation for drybulk and containerized cargoes. Eurobulk Ltd. manages the Company's operations. The Company also owns and operates dry bulk carriers that transport major bulks, such as iron ore, coal and grains, and minor bulks, such as bauxite, phosphate and fertilizers. The Company has a fleet of 12 vessels, including Kamsarmax drybulk carrier, Panamax drybulk carriers and Handymax drybulk carrier, Intermediate containerships, Handysize containerships, and Feeder containerships. The Company’s five drybulk carriers have a total cargo capacity of 351,272 deadweight tons (dwt), and its seven containerships have a cargo capacity of 11,828 twenty-foot equivalent units (teu).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Strong Financial Performance: For the first nine months of the year, the company reported an average TCE rate of $28,735 per day, resulting in net revenues of $170 million and net income attributable to common shareholders of $85 million, demonstrating robust profitability in a high charter rate environment.
- Future Earnings Expectations: Full-year earnings are projected to exceed $16 per share, with approximately 83% of open days for 2026 already fixed at an average rate of $31,000 per day, ensuring visibility and stability in future earnings.
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See More
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- Regulatory and Decarbonization Focus: The report discusses regulatory updates and decarbonization efforts within the industry, highlighting their significant impact on shipping companies' capital allocation and shareholder value enhancement, reflecting the industry's commitment to sustainability.
- Global Trade Trends: By analyzing global trade trends, the report reveals how shipping companies are adjusting their strategies in a rapidly changing market environment to address future challenges and opportunities, thereby strengthening their competitive position.
- Executive Insights Sharing: The report features insights from executives of notable companies, including Capital Clean Energy Carriers Corp. and Dynagas LNG Partners LP, providing forward-looking perspectives on the future of the shipping market to aid investors in making informed decisions.
See More
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- Interactive Q&A Session: Each session will include a 45-minute company slide presentation followed by a live Q&A, fostering interaction with investors and improving company transparency and investor relations.
- Subsequent Event Schedule: The presentation series will continue for several weeks, covering speeches from various maritime companies, which is anticipated to provide a platform for participating companies to enhance their market visibility and investment appeal.
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