- October 7, 2025
- Posted by: Contships
- Categories: News, Press Releases
Athens, Greece, 7 October 2025 – Contships Logistics Corp. (“Contships” or the “Company”) today announced that it will voluntarily prepay within October 2025 approximately US$102.0 million across its existing loan facilities with Alpha Bank S.A., CrediaBank S.A., Eurobank S.A., National Bank of Greece S.A., and Piraeus Bank S.A.
Following these prepayments, the Company’s:
• Outstanding secured bank debt will be reduced from US$116.5 million to US$14.5 million.
• Total outstanding unsecured bonds due 2030 will remain at US$175.0 million.
• Cash balance will be approximately US$101.6 million (Including the sale proceeds of Contship Ten scheduled to be delivered in late Oct. 2025).
The Company has agreed to extend its charters with CMA CGM for two vessels − the Contship Ace (1,256 TEU) and the Contship Zen (1,072 TEU) − for a term of 21 to 24 months. The gross daily charter rates are US$16,500 and US$15,500, respectively.
These charter extensions are expected to contribute approximately US$22 million to the Company’s revenue backlog, which will increase to US$209 million as of October 1, 2025.
Commenting on the voluntary prepayments and charter extensions,
Mr. Nikolas D. Pateras, Chairman and CEO of Contships, stated:
“We are utilizing our excess liquidity to make voluntary loan prepayments, reducing our gross LTV to 3%, and thus, lowering 2026 principal repayments by US$29.5 million, and reducing expected 2026 interest cost by US$4.2 million.
With container feeder markets remaining robust, evidenced by the recent charter extensions agreed with CMA CGM, we expect to continue generating strong free cash flow. This, along with our strategic initiative to voluntarily prepay our secured indebtedness, will further reinforce our balance sheet as we are actively pursuing acquisition opportunities to expand and renew our fleet.”
For more information, contact: ir@contships-logistics.com
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 35 container feeder vessels in operation.