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Euroseas (NASDAQ:ESEA) Stock, Option Chain

Euroseas

Euroseas Ltd is a shipping company. Its fleet consists of containerships that transport container boxes providing scheduled service between ports. Its operations are managed by an affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. The company employs its vessels on spot and period charters and through pool arrangements.

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Possible labor strikes may cause disruptions in container industry and affect freight rates. Market braces for impact, experts say

Strikes At US Ports, Canada&#39;s Railways May Cause Container Freight Rate Volatility

Transatlantic Container Shipping Volumes Rise As Possible Strike At U.S. Ports Hovers

Earnings

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When it comes to short-term investing or trading, they say &#34;the trend is your friend.&#34; And there&#39;s no denying that this is the most profitable strategy. But making sure of the sustainability of a trend to profit from it is easier said than done.

Here&#39;s Why Momentum in Euroseas Should Keep Going

Euroseas Ltd

Contracts

Euroseas Extends Charter Contract For Two 2,500 teu Feeder Containerships; EM Corfu Fixed For Minimum Period Of 18 Months And Maximum Period Of 20 Months At $28,000/Day; Evridiki G Fixed For Minimum Period Of 14 Months And 16 Months Maxinum Period At $29,500/Day

Euroseas Announces 3-Year Charter Contracts For Three Eco 2,800 Teu Feeder Containership Newbuildings; All Charters Are For Minimum Period Of 34 Months And Maximum Period Of 36 Months At $32,000 Per Day

Euroseas Announces Contract For M/V Jonathan P For Period Of 11 To Maxiumum Period Of 13 Months At $20,000 Daily Rate

The new charter will commence in early December 2024, in direct continuation of its existing charter.

Euroseas Inks Time Charter Contract For Its M/V Synergy Busan Containership, For Minimum Period Of 36 To Maximum Period Of 38 Months, At Gross Daily Rate Of $35,500

Alliance Global Partners initiates coverage on Euroseas (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESEA#NASDAQ">ESEA</a>) with a Buy rating and announces Price Target of $60.

Price Target

Initiation

Alliance Global Partners Initiates Coverage On Euroseas with Buy Rating, Announces Price Target of $60

Possible labor strikes at U.S. East and Gulf coast ports and Canadian railways may lead to volatility in <a href="https://www.benzinga.com/news/global/24/08/40451543/transatlantic-container-shipping-volumes-rise-as-possible-strike-at-u-s-ports-hovers">container freight rates</a> by causing supply-chain disruptions for the container industry and cargo owners, according to an industry expert.
&#8220;With the looming strikes at Canadian railways and U.S. ports, we may see an immediate uptick in freight rates as market participants brace for significant disruptions,&#8221; said Christian Roeloffs, CEO of German online container marketplace Container xChange.
Read Also: <a href="https://www.benzinga.com/top-stories/24/07/39964809/stock-of-the-day-reversal-for-sfl-corp-why-investors-are-concerned">Stock Of The Day: Reversal For SFL Corp? Why Investors Are Concerned</a>
&#8220;The possibility of simultaneous strikes at U.S. ports and Canadian railways present a perfect storm for North American trade.&#8221;
Canadian&nbsp;National&nbsp;Railway and&nbsp;Canadian&nbsp;Pacific Kansas City plan to lock out thousands of rail workers on Thursday if they cannot reach labor agreements with the Teamsters Canada Rail Conference, Reuters reported.
The Teamsters issued a 72-hour strike notice on Sunday to CPKC ahead of the company's lockout notice.
Meanwhile, the International Longshoreman Association, which represents 45,000 dockworkers at three dozen U.S. ports, plans to go on strike on Oct. 1 if it does not sign a new labor contract with the U.S. Maritime Alliance by that date.
Price Action: Container leasing and container liner stocks saw gains and losses on Wednesday.
<ul>
<li>Triton International Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRTN#NYSE">TRTN</a>) was down 0.53% to close at $26.18</li>
<li>Euroseas Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESEA#NASDAQ">ESEA</a>) declined 4.98% to $45.42.</li>
<li>Global Ship Lease, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSL#NYSE">GSL</a>) slipped 0.87% to $26.17</li>
<li>Matson, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MATX#NYSE">MATX</a>) picked up 2.09% to $133.73</li>
<li>Danaos Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAC#NYSE">DAC</a>) declined 0.90% to $82.36</li>
</ul>
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</ul>
Photo: Shutterstock

Strikes At US Ports, Canada's Railways May Cause Container Freight Rate Volatility

Transatlantic container shipping volumes into the U.S. are <a href="https://www.benzinga.com/news/earnings/24/08/40439449/why-is-israel-based-cargo-shipping-company-zim-integrated-stock-surging-today">making a comeback </a>as U.S. retailers look to replenish inventories ahead of possible strike action at U.S. ports.
&#8220;There is some temptation by customers to bring in goods ahead of the labor contract expiry on Sept. 30,&#8221; Hapag-Lloyd CEO Rolf Habben Jansen said in an online news briefing, Reuters reported.
Hapag-Lloyd is the world&#8217;s fifth-largest container liner.
Freight sector analysts are closely following contract talks between cargo worker unions and port managers in case the September deadline is missed and a strike becomes imminent.
Retailers have also put in their orders sooner as they expect their goods to take longer trips around Africa to avoid Houthi-led attacks in the Red Sea, Hansen said.
Read Also: <a href="https://www.benzinga.com/government/24/03/37969025/baltimore-bridge-ship-collisions-not-uncommon-5-more-u-s-fatal-accidents">Baltimore Bridge: Ship Collisions Not Uncommon — 5 More Fatal Accidents In US</a>
This jump in ordering by U.S. retailers can be good news for several other liner operators that ship goods across the Atlantic basin to the U.S., such as Euroseas Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESEA#NASDAQ">ESEA</a>), Global Ship Lease Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSL#NYSE">GSL</a>) and Danaos Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAC#NYSE">DAC</a>).
This good news for container shipping comes as ZIM Integrated Shipping Services Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>) posted very strong second-quarter earnings on Monday by capitalizing on transpacific trade into the U.S.
The company&#8217;s average freight rate for a 20-foot container came in at $1,674 for the second quarter, up from $1,193 for the same period last year. ZIM carried 952,000 20-foot containers in the quarter, up from 860,000 such containers a year ago.
ZIM posted earnings per share of $3.08 for the quarter, blowing away analyst EPS consensus of $1.79. Second-quarter revenue totaled $1.933 billion, up from $1.31 billion a year earlier.
Price Actions: Container shipping stocks trended upward on Monday.
<ul>
<li>ZIM jumped 16.74% to close at $22.25</li>
<li>Euroseas gained 6.36% to finish the day at $47.02</li>
<li>Global Ship Lease rose 1.26% to $27.24</li>
<li>Danaos picked up 2% to $84.23</li>
</ul>
Read Now: • <a href="https://www.benzinga.com/markets/equities/24/03/37961583/tesla-gm-ford-supply-chain-concerns-baltimore-port-closure-going-to-have-an-impact">Tesla, GM, Ford Supply Chain Concerns: Baltimore Port Closure &#8216;Going To Have An Impact&#8217;</a>
Photo: Shutterstock

When it comes to short-term investing or trading, they say &quot;the trend is your friend.&quot; And there&#39;s no denying that this is the most profitable strategy. But making sure of the sustainability of a trend to profit from it is easier said than done.
Often, the direction of a stock&#39;s price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it&#39;s important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, etc. -- that could keep the momentum in the stock going.
Our &quot;Recent Price Strength&quot; screen, which is created on a unique short-term trading strategy, could be pretty useful in this regard. This predefined screen makes it really easy to shortlist the stocks that have enough fundamental strength to maintain their recent uptrend. Also, the screen passes only the stocks that are trading in the upper portion of their 52-week high-low range, which is usually an indicator of bullishness.
<h2>Euroseas Ltd.</h2>
Euroseas (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/esea#NASDAQ">ESEA</a>) is one of the several suitable candidates that passed through the screen. Here are the key reasons why it could be a profitable bet for &quot;trend&quot; investors.
A solid price increase over a period of 12 weeks reflects investors&#39; continued willingness to pay more for the potential upside in a stock. ESEA is quite a good fit in this regard, gaining 8% over this period.
However, it&#39;s not enough to look at the price change for around three months, as it doesn&#39;t reflect any trend reversal that might have happened in a shorter time frame. It&#39;s important for a potential winner to maintain the price trend. A price increase of 6.5% over the past four weeks ensures that the trend is still in place for the stock of this company.
Moreover, ESEA is currently trading at 96.2% of its 52-week High-Low Range, hinting that it can be on the verge of a breakout.
Looking at the fundamentals, the stock currently carries a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises -- the key factors that impact a stock&#39;s near-term price movements.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988.
Another factor that confirms the company&#39;s fundamental strength is its Average Broker Recommendation of #1 (Strong Buy). This indicates that the brokerage community is highly optimistic about the stock&#39;s near-term price performance.
So, the price trend in ESEA may not reverse anytime soon.
<a href="https://www.zacks.com/stock/news/2320497/here-s-why-momentum-in-euroseas-esea-should-keep-going?cid=CS-BENZ-FT-tale_of_the_tape|recent_price_strength_screen-2320497">To read this article on Zacks.com click here.</a>

Here's Why Momentum in Euroseas Should Keep Going

WIIM

ESEA shares are trading higher after the company reported better-than-expected Q2 financial results.

Euroseas (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESEA#NASDAQ">ESEA</a>) reported quarterly earnings of $4.92 per share which beat the analyst consensus estimate of $2.82 by 74.47 percent. The company reported quarterly sales of $58.724 million which beat the analyst consensus estimate of $48.436 million by 21.24 percent. This is a 23.12 percent increase over sales of $47.696 million the same period last year.

Earnings Beats

Euroseas Q2 2024 Adj. EPS $4.92 Beats $2.82 Estimate, Sales $58.724M Beat $48.436M Estimate

Euroseas Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESEA#NASDAQ">ESEA</a>, 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 1,740 feeder containership, EM Spetses, for a minimum period of 18 to a maximum period of 20 months at the option of the charterer, at a gross daily rate of $18,100. The charter for EM Spetses will commence in early August 2024, upon the completion of its current charter.

Euroseas Announces 18-Month Charter Contract For Its Feeder Containership, EM Spetses, At A Gross Daily Rate Of $18,100

Euroseas Announces New Time Charter Contract For Feeder Containership M/V Joanna; 23-25 Month Charter At Average Gross Daily Rate Of $16,500, Starting Post-Drydock In Late October 2024

Euroseas Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESEA#NASDAQ">ESEA</a>, the &quot;Company&quot; or &quot;Euroseas&quot;)))), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today it has entered into a time charter contract for M/V Pepi Star, 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 $24,250. The new charter will commence upon delivery of the vessel from the shipyard expected to take place on or about July 19, 2024. The acquisition was financed with a combination of debt and equity.

Euroseas Announces Time Charter Contract For Its Third Fuel Efficient 1,800 teu Feeder Containership Newbuilding, M/V Pepi Star Currently Under Construction, For A Period Of 23-25 Months At The Option Of The Charterer, At A Gross Daily Rate Of $24,250

Noble Capital Markets analyst Poe Fratt maintains Euroseas (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESEA#NASDAQ">ESEA</a>) with a Outperform and raises the price target from $49 to $53.

Noble Capital Markets Maintains Outperform on Euroseas, Raises Price Target to $53

Euroseas Enters Time Charter Contract For New 1,800 TEU Feeder Containership M/V Stephania K At $22,000 Daily Rate, Delivery Expected June 28, 2024

Euroseas (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESEA#NASDAQ">ESEA</a>) reported quarterly earnings of $2.66 per share which missed the analyst consensus estimate of $2.89 by 7.96 percent. This is a 13.92 percent decrease over earnings of $3.09 per share from the same period last year. The company reported quarterly sales of $46.700 million which beat the analyst consensus estimate of $46.313 million by 0.84 percent. This is a 11.36 percent increase over sales of $41.937 million the same period last year.

Earnings Misses

Euroseas Q1 2024 Adj EPS $2.66 Misses $2.89 Estimate, Sales $46.700M Beat $46.313M Estimate

Euroseas Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESEA#NASDAQ">ESEA</a>, the "Company" or "Euroseas")))), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today it has entered into a time charter contract for M/V Monica, a newbuilding fuel efficient 1,800 teu feeder containership currently under construction, for a minimum period of 10 to a maximum period of 12 months at the option of the charterer, at a gross daily rate of $16,000. The new charter will commence upon delivery of the vessel from the shipyard expected around mid-May 2024. The acquisition was financed with a combination of own funds and a US$22.5 million loan provided by the National Bank of Fujairah. The same financing is secured for the sister ship M/V Stefania K, which is expected to be delivered in mid-June. &nbsp;
Aristides Pittas, Chairman and CEO of Euroseas, commented: "We are pleased to announce that we have chartered our upcoming newbuilding vessel, the fifth in a series of nine and first of our three 1,800 teu units, with one of the largest liner companies, at a profitable rate level of $16,000/day. This charter is expected to contribute about $2.7 million of EBITDA for the minimum contracted period; it increases our 2024 charter coverage to over 85%. We are also pleased to have started a cooperation with the National Bank of Fujairah, as part of our strategy of diversifying our debt financing sources and expanding our relationships with commercial shipping lenders worldwide; and, finally, we are grateful for the advice we received from Alantra DIFC in arranging this financing."
Bilal Hasan Ashraf – Head, Energy &amp; Marine and Government and Large Corporate, Fujairah – National Bank of Fujairah PJSC, commented: "We are excited to support the charter of Euroseas new fuel-efficient container ships through our sustainability linked loan. This innovative partnership not only demonstrates our commitment to promote sustainable practices in the maritime industry but also showcases our dedication to support businesses that prioritize environmental stewardship. By investing in cleaner and more efficient vessels, we are proud to contribute to a greener future for the shipping industry and the planet as a whole."
Nicholas Petrakakos, Partner &amp; MD at Alantra DIFC, commented: "We are pleased to have advised Euroseas in this milestone sustainability linked financing facility with National Bank of Fujairah, for two state of the art containerships MV Monica and MV Stephania K. Our Maritime &amp; Offshore team strives to deliver innovative solutions to our clients, and this transaction is a testament of our commitment, bringing together a prominent Greek owner and the most sophisticated UAE based shipping bank."

Financing

Euroseas Ltd. Announces Time Charter Contract For Its Fuel Efficient 1,800 teu Feeder Containership Newbuilding, M/V Monica For 10-12 Months At The Option Of The Charterer, At A Gross Daily Rate Of $16,000 And Financing Of M/V Monica And M/V Stefania K

Asset Sales

Euroseas Signs Memorandum Of Agreement To Sell M/V EM Astoria For ~$10M

Euroseas Announces Time Charter Contract For M/V EM Hydra, For Minimum Period Of 10 To Maximum Period Of 12 Months At Option Of The Charter; Gross Daily Rate Of $13,000 In Direct Continuation Of Existing Charter

Euroseas Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESEA#NASDAQ">ESEA</a>, the "Company" or "Euroseas")))), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today a time charter contract for its 4,250 teu intermediate containership, M/V Synergy Antwerp, for a minimum period of 11.5 to a maximum period of 14 months at the option of the charterer, at a gross daily rate of $26,500. The charter commenced on April 2, 2024, after the vessel successfully completed its scheduled drydock and special survey, along with certain retrofits including the installation of a number of "energy saving devices". The latter are expected to improve her consumption in the commercial speed range by about 25%. On that basis, the vessel will emit about 9,800 metric tons of CO2 less per annum. &nbsp;
The following retrofits and "energy saving devices" were installed on the ship:
(a)&nbsp; New bulbous bow (b)&nbsp; A new and lighter propeller (c)&nbsp; Hub vortex absorbed fins (HVAF) (d)&nbsp; Pre-shrouded vanes (PSV) (e)&nbsp; Silicone coating of the ship's underwater parts (f)&nbsp; LED lights (g)&nbsp; Auto pilot upgrade with advanced ecology control (h)&nbsp; Jacket pre-heater auto control
Aristides Pittas, Chairman and CEO of Euroseas commented: "We are pleased to announce that M/V Synergy Antwerp was chartered for about a year to a top-tier charterer at a very profitable rate of $26,500/day, following the completion of its drydock and retrofits. The charter rate represents a strong increase compared to last done, indicating charterer's interest in more modern, energy efficient vessels; it is expected to contribute about $6.5 million of EBITDA over the minimum contracted period and increases our 2024 charter coverage to about 80%. This is the third vessel from our fleet undergoing retrofits as part of our ongoing efforts to modernize our fleet and reduce our carbon footprint."

Euroseas Ltd. Announces One-Year Time Charter Contract And Completion Of Retrofits For Its Intermediate Containership, M/V Synergy Antwerp At A Gross Daily Rate Of $26,500

In a report released today, Mark Reichman from Noble Financial maintained a Buy rating on Euroseas (ESEA – Research Report), with a price target of...

Noble Financial Remains a Buy on Euroseas (ESEA)

Euroseas (ESEA) has released an update. Euroseas Ltd. has secured a 1-year charter for its containership M/V Jonathan P, with a daily rate of $20,0...

Euroseas Secures Profitable Charter for M/V Jonathan P

Noble Financial Keeps Their Buy Rating on Euroseas (ESEA)

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Euroseas announces 3-year charter contracts for three feeder containerships

Euroseas (ESEA) announced new time charter contracts for three fuel efficient 2,800 teu feeder containerships. All three charters are for a minimum...

Euroseas in 3-yr chartered deals for 3 2,800 teu feeder containership

Euroseas: Still A Buy, With TCE Tailwinds Driving Strong Gains

Euroseas (ESEA) has released an update. Euroseas Ltd. has secured lucrative 3-year charter contracts for three eco-friendly 2,800 teu feeder contai...

Euroseas Secures Lucrative Eco-Friendly Charter Deals

Euroseas (ESEA) announced new time charter contracts for its 2001-built 2,556 teu feeder containerships, EM Corfu and Evridiki G, in direct continu...

Euroseas announces charter contract extensions for feeder containerships

Euroseas (ESEA) has released an update. Euroseas Ltd. has announced the extension of charter contracts for two of its feeder containerships, EM Cor...

Euroseas Secures Lucrative Charter Extensions

Press Releases

Euroseas Ltd. Announces Two-Year Time Charter Contract for its Feeder Containership, M/V Joanna, and Other Operational Developments

General

Euroseas Ltd. Announces 18-month Charter Contract for its Feeder Containership, EM Spetses

Euroseas Ltd. Sets Date for the Release of Second Quarter 2024 Results, Conference Call and Webcast

Euroseas Ltd. Reports Results for the Six-Month Period and Quarter Ended June 30, 2024

London Shipping Summit-Industry Leaders Presenting At 16th Annual Capital Link Shipping & Marine Services Forum

Euroseas Ltd. Announces Participation at Noble Capital Markets' Basic Industries Emerging Growth Virtual Equity Conference

Euroseas Ltd. Announces 3-year Charter Contract for its Intermediate Containership, M/V Synergy Busan

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

Euroseas Ltd. Announces 3-year Charter Contracts for Three Eco 2,800 teu Feeder Containership Newbuildings, M/V Tender Soul, M/V Dear Panel and M/V Symeon P

Euroseas Ltd. Announces Charter Contract Extensions for its Two 2,500 teu Feeder Containerships, EM Corfu and Evridiki G

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