EUROSEAS
 Conclusion of freight forward agreement contracts
DEC, 10.2008
 


 

Euroseas Ltd., a Marshall Islands company of Pittas family interests, listed on Nasdaq (Aristides Pittas, Chairman & CEO), has sold contracts for a total of 480 calendar days on the Freight Forward Agreement (FFA) market on the Panamax index for Calendar 2009 with an average time charter equivalent rate of approximately USD 11,300 per day. The panamax index refers to a modern Panamax dry bulk carrier.

Similarly, the company announced that it has sold FFA contracts for Calendar 2010 for a total of 120 days on the panamax index at an average time charter equivalent rate of USD 13,900 per day.

  • Taking into account the previously sold, the company’s total coverage for Calendar 2010 now stands at 485 days at an average time charter equivalent rate of USD 11,400 per day.
     
   

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