04:28 AM EDT, 03/19/2025 (MT Newswires) -- Euroseas ( ESEA ) said Tuesday it has received a new time charter contract for its 4,250 20-foot container capable intermediate ship, M/V Rena P, for 35 to 37 months at a daily rate of $35,500, in a continuation of its present charter set to begin on Aug. 21.

The company also said it has completed a spin-off of three of its subsidiaries containing its two older vessels, M/V Aegean Express and M/V Joanna, along with the proceeds from an earlier sale of the vessel M/V Diamantis P, into EuroHoldings (EHLD), which began operating Tuesday as an independent Nasdaq-listed company.