Euroseas Ltd. announced 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.