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Euroseas charters panamax boxship for $200,000 per day

Photo: Alexander Kliem - Pixabay Containership at sea
As container shipping continues to register unheard freight and charter rates Euroseas has chartered a 4,250 teu panamax containership for $200,000 per day.

The 2009-built Synergy Oakland has been chartered for a minimum of 60-days and a maximum of 85-days a gross daily rate $202,000 or $195,000 depending on when the vessel is delivered to the charterer.

Aristides Pittas, Chairman and CEO of Euroseas said: “We are pleased to announce the new charter for M/V Synergy Oakland for about two to three months at a daily rate of about $200,000 per day. This is the highest time charter rate ever achieved by any vessel in our fleet and one of the highest rates ever achieved in our industry.”

The charter will generate between $12m to $17m over the period depending on the length of the charter.

It represents a massive turnaround for a vessel size that a few years appeared to be on its deathbed. Following the expansion of the Panama Canal in 2016 the panamax boxship fell out favour and vessels in that size range as young as 10-years old were being sold for scrap.


TAGS: Europe bulkers