Euroseas Renews Containership Time Charter

Thursday, June 09, 2011

Euroseas Ltd., (NASDAQ:ESEA) an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerized cargoes, announced today that a subsidiary of the Company has entered into time charter agreement for the M/V Maersk Noumea. The vessel - a 2,556 teu, ten-year-old containership - has been extended for about 2 years at a gross daily rate of $15,750. The new rate will apply from the first days of July 2011. This employment is expected to generate approximately $11.5 million of gross revenues during the period of the charter.

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