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Euroseas Ltd. Announces 1-year Charter Contract Extension for its Feeder Containership, M/V Jonathan P

1. Euroseas signed a new charter for M/V Jonathan P at $25,000 daily rate. 2. The new contract increases EBITDA by $5.65 million over 11-12 months. 3. Fleet charter coverage rises to 100% in 2025, 70% in 2026. 4. This is a $5,000 increase from the previous contract rate. 5. Euroseas continues to consolidate operations and expand fleet capacity.

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Why Bullish?

The increase in daily charter rate and EBITDA boosts revenue potential. Historical data shows similar announcements often lead to positive price movements in shipping stocks.

How important is it?

The announced charter significantly enhances financial outlook, directly influencing investor sentiment positively. Consecutive increases in charter rates signal strength in operations and revenue management.

Why Short Term?

The positive impact from the new contract is likely to reflect within the next quarter. Market reactions to charter agreements typically show immediate responses.

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September 12, 2025 09:10 ET  | Source: Euroseas ATHENS, Greece, Sept. 12, 2025 (GLOBE NEWSWIRE) -- Euroseas Ltd. (NASDAQ: ESEA, the “Company” or “Euroseas”), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today a new time charter contract for its 2006-built 1,740 teu feeder containership, M/V Jonathan P, for a minimum period of 11 to a maximum period of 12 months, at the option of the charterer, at a gross daily rate of $25,000, in direct continuation of its current charter representing a $5,000 per day increase over the vessel’s current rate. The new charter period will commence on November 17, 2025 and is expected to contribute about $5.65 million of EBITDA over the minimum contracted period; the charter will increase charter coverage of the Company’s fleet to 100% in the remainder of 2025 and about 70% in 2026. Fleet Profile: The Euroseas Ltd. fleet profile is currently as follows: Name TypeDwtTEUYear BuiltEmployment (*)TCE Rate ($/day)Container Carriers      MARCOS V(+)(***)Intermediate72,9686,3502005TC until Oct-25$15,000SYNERGY BUSAN(*)Intermediate50,7274,2532009TC until Dec-27$35,500SYNERGY ANTWERP(*)Intermediate50,7274,2532008TC until May-28$35,500SYNERGY OAKLAND(*)Intermediate50,7884,2532009TC until May-26$42,000SYNERGY KEELUNG(*)Intermediate50,6974,2532009TC until Jun-28$35,500EMMANUEL P(*)Intermediate50,7964,2502005In Drydock, passing her special survey then TC until Sep-28$38,000RENA P(*)Intermediate50,7654,2502007TC until Aug-28$35,500EM KEA(*)Feeder42,1653,1002007TC until May-26$19,000GREGOS(*)Feeder38,7332,8002023TC until Apr-26$48,000TERATAKI(*)Feeder38,7332,8002023TC until Jul-26$48,000TENDER SOUL(*)Feeder38,7332,8002024TC until Oct-27$32,000LEONIDAS Z(*)Feeder38,7332,8002024TC until Mar-26$20,000DEAR PANELFeeder38,7332,8002025TC until Nov-27$32,000SYMEON PFeeder38,7332,8002025TC until Nov-27$32,000EVRIDIKI G(*)Feeder34,6542,5562001TC until Apr-26$29,500EM CORFU(*)Feeder34,6492,5562001TC until Aug-26$28,000STEPHANIA K(*)Feeder22,5631,8002024TC until May-26$22,000MONICA(*)Feeder22,5631,8002024TC until May-27$23,500PEPI STAR(*)Feeder22,5631,8002024TC until Jun-26$24,250EM SPETSES(*)Feeder23,2241,7402007TC until Feb-26$18,100JONATHAN P(*)Feeder23,7321,7402006TC until Nov-25then TC until Oct-27$20,000$25,000EM HYDRA(*)Feeder23,3511,7402005TC until May-27$19,000Total Container Carriers on the Water22859,33067,494    Vessels under constructionTypeDwtTEUTo be deliveredEmploymentTCE Rate ($/day)ELENA (H1711)Intermediate55,2004,300Q4 2027  NIKITAS G (H1712)Intermediate55,2004,300Q4 2027  YZJ2024-1768Intermediate55,2004,300Q1 2028  YZJ2024-1769Intermediate55,2004,300Q2 2028  Total under construction4220,80017,200    Notes:(*) TC denotes time charter. Charter duration indicates the earliest redelivery date; all dates listed are the earliest redelivery dates under each TC unless the contract rate is lower than the current market rate in which cases the latest redelivery date is assumed; vessels with the latest redelivery date shown are marked by (+). (**) Rate is net of commissions (which are typically 5-6.25%)(***) The vessel is sold and is expected to be delivered to its new owners in the fourth quarter of 2025 About Euroseas Ltd. Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 150 years. Euroseas trades on the NASDAQ Capital Market under the ticker ESEA. Euroseas operates in the container shipping market. Euroseas' operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements. The Company has a fleet of 22 vessels, including 15 Feeder containerships and 7 Intermediate containerships with a cargo capacity of 67,494 teu. After the sale of M/V Marcos V and the delivery of the four intermediate containership newbuildings in 2027 and 2028, Euroseas’ fleet will consist of 25 vessels with a total carrying capacity of 78,344 teu. Forward Looking Statement This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for containerships, competitive factors in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.  Visit our website www.euroseas.gr Company ContactInvestor Relations / Financial MediaTasos AslidisChief Financial OfficerEuroseas Ltd.11 Canterbury Lane,Watchung, NJ 07069Tel. (908) 301-9091E-mail: aha@euroseas.grNicolas BornozisMarkella KaraCapital Link, Inc.230 Park Avenue, Suite 1540New York, NY 10169Tel. (212) 661-7566E-mail: euroseas@capitallink.com

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