The April-June quarter of this year was the best quarter ever for Euroseas, a company based in legal in the Marshall Islands that owns a fleet of 23 container ships in the feeder and intermediate segments placed at charter from various shipping companies. "The second quarter - specified the chairman and chief executive officer of Euroseas, Aristides Pittas - it was a good quarter for container carrier markets, with rental rates that are continue to grow and on average have more than doubled compared to the levels of the end of 2023, a trend that is evident clearly in the rental rates and contract periods that we got for our ships. In July 2024 - he specified Pittas - we have seen the market rates of car rentals interrupt their growth by consolidating their levels, in part due to the summer seasonality and partly due to of the evolution of the geopolitical scenario".

"On the container ship supply front," he continued Pittas - the challenges the market may face in the future remain, as there is still a significant portfolio orders for delivery, equal to about 22% of the fleet, down compared to the peak of about 30%, and, in addition, part of the capacity of the fleet could be freed up if the trade routes returned to the configuration of the end of 2023, i.e. before the Houthi attacks on maritime transport crossing the Suez Canal forced the airlines to divert their their ships around Africa. To absorb this additional offer - Pittas noted - the sector depends on the continuation, and even by the increase in demand for containerized and This, in turn, requires global economic growth and that exchanges continue to be substantial. To the latter expected cuts in interest rates interest from central banks in the remainder of the 2024, and this is a factor to keep in mind for the medium-term prospects for maritime transport demand, as well as the protectionist government measures that could lead to a contraction in trade".

"In any case," Pittas added, referring to specific to the prospects of Euroseas - with coverage of rentals of approximately 75% in the next 12 months we believe we will not be subject to market developments. We also hope to be able to rent again at similar levels to the current ones the few ships that will be freed this year, strengthening the further our future coverage".

Meanwhile, the positive trend of the ship chartering sector container carrier awarded Euroseas which in the second quarter of this year recorded record base time charter revenues of 60.3 million dollars, up +22.3% over the same period of 2023. Operating profit and net profit also achieved both record levels having amounted to 42.3 million (+46.9%) and $40.7 million (+41.1%).

Also in the entire first half of 2024, base time revenues reached a record value having stood at 108.6 million dollars, up +17.0% over the first half last year. Record also for operating profit and profit half-year net results of €63.7 million (+7.2%) and €60.7 million million dollars (+5.4%).