Euroseas is continuing to expand its modern containership fleet while bringing new financial partners into its growth strategy.
The Nasdaq-listed Greek shipowner has announced the formation of a joint venture with a group of Norwegian investors represented by NRP Project Finance for the ownership of one of its containership newbuildings currently under construction in China.
The agreement covers the third vessel in Euroseas’ four-ship series of 4,484 teu containerships. The vessel, which will be named Thrylos, is scheduled for delivery during the first quarter of 2028.
Under the deal, the NRP-backed investors will acquire a 49% stake in the ship for approximately $12.2m, including transaction-related costs. The structure assumes the vessel will be financed with at least 60% debt.
Importantly for Euroseas, the ship already has employment secured well ahead of delivery. Once it joins the fleet, Thrylos will immediately begin a charter contract at a daily rate of $35,500 for a period of around four years, providing strong long-term revenue visibility.
The transaction marks another important step in Euroseas’ ongoing fleet renewal and expansion programme, as the company continues adding modern feeder and intermediate containerships to its portfolio.
The Thrylos is part of a quartet of vessels ordered at China’s Jiangsu New Yangzi Shipbuilding yard.
Back in August 2025, the Aristides Pittas-led company exercised options for two additional ships in the series, priced at roughly $59.25m each, with deliveries scheduled for March and May 2028.
Those orders followed an earlier agreement signed in October 2024 for the first two sister vessels at the same Chinese shipyard, which are expected to be delivered during 2027.
Euroseas currently operates a fleet of 21 containerships and now holds one of the largest orderbooks among publicly listed feeder vessel owners.
The company’s overall newbuilding programme has now grown to 10 vessels with a combined contracted value of approximately $500m.
Once all vessels are delivered, Euroseas expects to operate one of the youngest feeder and intermediate containership fleets among its listed competitors, strengthening its position in a segment where demand for modern and fuel-efficient tonnage remains strong.
The partnership with NRP Project Finance is also not the first collaboration between the Norwegian investment group and companies linked to Aristides Pittas.
In 2023, Nasdaq-listed dry bulk owner EuroDry another Pittas-affiliated company formed a joint venture with NRP-backed investors for the acquisition of two 2015-built ultramax bulk carriers purchased from UK-based Marine Capital.
The latest agreement highlights how shipping companies are increasingly using joint venture structures to finance fleet growth while sharing investment risk with institutional and private capital partners.
