Contships Logistics Corp. announces the acquisition of five container feeder vessels

Athens, Greece, 26 March 2025 – Contships Logistics Corp. (“Contships” or the “Company”) announces the acquisition of five container feeder vessels, aligning with the Company’s fleet renewal program and increasing its market share in the feeder containership segment.

The Company will acquire from an unrelated party two 2,000 TEU vessels and three 1,300 TEU vessels at an undisclosed price. The vessel acquisitions are subject to the satisfaction of certain customary closing conditions and are expected to be delivered between April and June 2025.

The new acquisitions will serve their existing time charter contracts with top-tier liner companies, which increase the Company’s charter backlog by approximately USD 43 million over the firm charter period. The Company expects to finance the acquisitions with cash on hand.

Separately, the Company has agreed on charter extensions with MSC for the Contship Joy and the Contship Ten for min. 24 – max. 26 months at a gross rate of $12,000 per day and min. 21 – max. 22 months at a gross rate of $14,000 per day respectively.

Additionally, the Company fixed the Contship Uno with CMA CGM for min. 3 – max. 6 months at a gross rate of $13,500 per day.

In total, the new charter agreements, including the new acquisitions, are expected to add approximately USD 62 million to the Company’s revenue backlog and increase contract coverage to 78% in 2025.

Commenting on the vessel acquisitions and the new charter agreements, Mr. Nikolas D. Pateras, Chairman and CEO of Contships, stated: “The acquisition of five container feeder vessels marks a significant step in our ongoing fleet renewal strategy and together with the three new charters substantially enhances our earnings visibility. More importantly, these developments support our long-term growth and reinforce our position as a leading container feeder tonnage provider.”