Euroseas Ltd. (NASDAQ:ESEA) Q3 2023 Earnings Call Transcript

Operator: [Operator Instructions] We have a follow-up from Tate Sullivan with Maxim Group.

Tate Sullivan: Thank you for taking my follow-up. And Tasos, it’s on the below market charters, and I think you gave some figures of $8.4 million of assets remaining and other liabilities, and $9.3 million. Is it – would the same event trigger a gain on those time charter agreement terminations if you entered new agreements? And what’s…

Tasos Aslidis: For a different vessel, the third vessel, Marcos V that was bought with a below market charter, that below market charter value is being amortized, is being credited to our earnings during the duration of the charter. And the $8.4 million, I believe that I mentioned in Slide 20 refers to the remaining unamortized below market charter value related to Marcos V. The vessel is earning $40,000 in time charter, but of course, because of that, we recognize a higher amount, which we subtract out when we do our adjusted earnings.

Tate Sullivan: Okay. All right. Thank you. That’s it.

Operator: [Operator Instructions] We’re not receiving further questions at this time. I’ll turn the floor back to Mr. Pittas for closing remarks.

Aristides Pittas: Thank you, everybody, for listening to our today’s call. We’ll be back in three months time. Bye.

Tasos Aslidis: Thanks, everybody. Thanks.

Operator: This concludes today’s conference. Thank you for your participation. You may disconnect your lines at this time.