Contships Logistics Corp. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2025

Athens, Greece, August 7, 2025

Contships Logistics Corp. (the “Group” or “Contships” or “Company”), today announced its unaudited financial and operating results for the three and six months ended June 30, 2025.

Highlights

Fleet Composition

• During the first six months of 2025, the Group completed the disposal of six container feeder vessels, M/V Contship Air, M/V Contship Leo, M/V Contship Med, M/V Contship Win, M/V Contship Fun and M/V Contship Gem were delivered to their new owners. The aggregate proceeds from the six vessel sales, before any commissions and sale related costs, were $50.2 million.
• During the first six months of 2025, the Group entered into three additional memoranda of agreement to sell three container vessels, M/V Contship Sun, M/V Contship Key and M/V Contship Lex. The disposals of M/V Contship Sun and M/V Contship Key were completed in July 2025, the aggregate proceeds of which, before any commissions and sale related costs, were $17.9 million. M/V Contship Lex is expected to be delivered to its new owners in September 2025, the proceeds of which, before any commissions and sale related costs, are expected to be $10.7 million.
• During the six months ended June 30, 2025, the Group completed the acquisitions of two 2,000 TEU vessels and three 1,300 TEU vessels at an aggregate acquisition cost, including preliminary expenses, of $71.9 million. Two of the vessels were delivered in May 2025 and three vessels were delivered in June 2025. Each of the five vessel acquisitions was financed using cash on hand, and the vessels remain unencumbered.
• An average of 40.4 vessels were owned and operated by the Group during the first six months of 2025, whereas as of June 30, 2025, the Group owned 41 vessels. Following the completion of all recent transactions, the Group will own and operate 38 vessels.

Fleet Employment

In terms of time charter contract arrangements, the Group recently concluded the following fixtures:

• Contship Vow fixed to Unifeeder at $15,950/day on a 12-14 month time charter.
• Contship New fixed to MSC at $15,000/day on a 23-24 month time charter.
• CMA CGM declared its option to extend Contship Uno at $13,500/day in direct continuation for a further 3-6 months.

In terms of time charter contract arrangements, for the vessels delivered to the Group during the six months ended June 30, 2025, the following time charters were in place at the date of each vessel’s delivery:

• Contship Max II fixed to King Ocean at $11,000/day for a remaining period of 9-12 months.
• Contship Rex II fixed to CMA CGM at $13,500/day for a remaining period of 8-9 months.
• Contship Eve II fixed to CFS at $17,650/day for a remaining period of 8-10 months.
• Contship Pep II fixed to COSCO at $23,600/day for a remaining period of 22-24 months.
• Contship Ana II fixed to MSC at $23,500/day for a remaining period of 22-24 months.

• As of July 1, 2025, and as adjusted to incorporate all recent fixtures and including the five vessel acquisitions, the Group’s secured revenue backlog stands at $227 million, estimated based on each vessel’s latest redelivery date.
• For the Group’s currently owned 39 vessels 10,761 days have been contracted for the period from July 1, 2025 to June 30, 2026, representing 77% charter coverage.

Fleet Operations & Revenues

• Fleet operational utilization was 98% for the six months ended June 30, 2025.
• Fleetwide, the Group achieved an average daily time charter rate, net of address commissions, of $13,490 for the first half of 2025, generating revenue of $97.1 million.
• For the second half of 2025, the Group is expected to achieve an average gross daily time charter rate of approximately $15,100.

Financial Developments

• On February 11, 2025, the Group completed a $100 million 5-year senior unsecured sustainability-linked bond issue with a 9.0% coupon in Norway. Bond proceeds are expected to be utilized for general corporate purposes and to provide support to the Group’s fleet renewal program. On July 11, 2025 the Company’s bond was successfully listed on the Oslo Stock Exchange.
• During the first six months of 2025, the Group entered into discussions with each of its lenders to reduce its cost of debt by reducing the margin in all bank loan facilities, as well as extending the maturities of certain loan facilities, providing flexibility going forward. These amendments, which have already been effective in all of the Group’s facilities, have decreased the Group’s weighted average margin to 2.01% based on total bank debt outstanding as of June 30, 2025.
• During the first six months of 2025, the Group prepaid $19.2 million of its long-term financing liabilities in conjunction with the abovementioned six vessel sales (M/V Contship Air, M/V Contship Leo, M/V Contship Med, M/V Contship Win, M/V Contship Fun and M/V Contship Gem).
• Post quarter end, the Group prepaid $4.6 million of its long-term financing liabilities in connection with the sale of two container feeder vessels (M/V Contship Sun and M/V Contship Key) which were completed in July. Net proceeds of $13.3 million were added to the Group’s cash and cash equivalents following the two sales.
• The Group expects to prepay approximately $2.3 million of its long-term financing liabilities in connection with the sale of one container feeder vessel (M/V Contship Lex) during the current quarter.
  – After the delivery of M/V Contship Lex to its new owners, net proceeds of $8.4 million will be added to the Group’s cash and cash equivalents.
• Cash and cash equivalents amounted to $85.7 million at the end of the six months ended June 30, 2025.
• As of June 30, 2025, bank debt amounted to $137.5 million, outstanding bonds amounted to $100.0 million, equating to total debt of $237.5 million.
• As of June 30, 2025, shareholders’ equity amounted to $390.2 million.
• Profit for the six months ended June 30, 2025, amounted to $12.9 million.

For more information, contact: ir@contships-logistics.com

The Q2 2025 report is attached to this release and is available on the Company’s website: www.contships-logistics.com/financial-reports

About Contships Logistics Corp.

Contships Logistics Corp. is the world’s largest independent owner of container feeder vessels focused on vessels between 900 TEU and 2,000 TEU. The Company has 39 container feeder vessels in operation.