Euroseas Ltd has signed a new time charter for the 1,740-TEU Jonathan P at a gross daily rate of US$25,000, starting November 17, reported Globe Newswire.

The charter spans a minimum of 11 months and a maximum of 12 months at the charterer's discretion. The rate marks a $5,000 daily increase over the vessel's current contract.

Euroseas expects the deal to generate about $5.65 million in EBITDA over the minimum term. The agreement boosts the company's fleet charter coverage to 100 per cent for the rest of 2025 and around 70 per cent for 2026.

The Jonathan P was built in 2006 and is part of Euroseas' fleet of container carriers providing seaborne transport for containerised cargoes. The company is listed on NASDAQ under the symbol ESEA.