Nasdaq-listed Euroseas has clinched an astonishing 257% pay rise for its oldest ship — for twice the length of its previous charter.

The Greek shipowner said its smallest container vessel, the 1,439-teu feeder Aegean Express (built 1997), has been booked by an unnamed charterer for between 36 and 39 months at $41,000 per day.

The term starts in April in direct continuation of the current contract, which was for between 15 and 16 months at just $11,500 per day.