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Euroseas Ltd. Announces Completion of Works on Retrofitting Several Items Aiming to improve the Efficiency on its Feeder Containership, M/V Synergy Busan
ATHENS, Greece, Dec. 19, 2023 (GLOBE NEWSWIRE) -- Euroseas Ltd. (NASDAQ: ESEA, the “Company” or “Euroseas”), an owner and operator of container carrier
About this update from Euroseas Ltd.
[{"type":"text","content":"ATHENS, Greece, Dec. 19, 2023 (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 it has successfully completed the installation of a number of “energy saving devices” on its 4,250 teu feeder containership, M/V Synergy Busan, aiming to improve her consumption in the commercial speed range by about 20%. The investment was done in conjunction with the vessel’s scheduled dry docking and special survey within the scheduled period of only 17 days. The following devices were installed on the ship: (a)New bulbous bow(b)A new and lighter propeller(c)Hub vortex absorbed fins (HVAF)(d)Pre-shrouded vanes (PSV)(e)Silicone coating of the ship’s underwater parts(f)LED lights(g)Auto pilot upgrade with advanced ecology control(h)Jacket pre-heater auto control Aristides Pittas, Chairman and CEO of Euroseas commented: “We are pleased to announce the completion of retrofits for our M/V Synergy Busan, as a result of which we expect that the vessel’s commercial attractiveness as well as its economic life will increase. Following these modifications, M/V Synergy Busan will be amongst the most competitive vessels of her vintage. “Euroseas is committed to reduce its carbon footprint both by investing in the most fuel-efficient newbuilding vessels and, also, by retrofitting its existing ships. We believe that this strategy not only minimizes the impact on the environment but will also result in improved financial performance for the benefit of our shareholders.” 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 140 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 19 vessels, ...