Euroseas Ltd. announced it has entered into a time charter contract for M/V Stephania K, a newbuilding fuel efficient 1,800 teu feeder containership currently under construction, for a minimum period of 23 to a maximum period of 25 months at the option of the charterer, at a gross daily rate of USD 22,000. The new charter will commence upon delivery of the vessel from the shipyard expected to take place on June 28, 2024. The acquisition was financed with a combination of own funds and a USD 22.5 million loan provided by the National Bank of Fujairah.