04:41 PM EDT, 04/15/2026 (MT Newswires) -- Euroseas ( ESEA ) extended a charter contract for its feeder containership EM Kea by three years at a gross daily rate of $30,000.

The charter is set to begin on July 14 and reflects nearly a 60% increase over the vessel's current rate, the company said Wednesday in a statement.

Euroseas ( ESEA ) expects the charter to generate about $22.5 million in EBITDA over the minimum contracted period.

The company's shares fell 2% in after-hours trading.