A Greek container shipping operator has ordered two 1,800 TEU feeder vessels from a Chinese yard, reinforcing fleet expansion amid tight sub-6,000 TEU market conditions.

Key Highlights

  • A Greek container shipping operator has finalised orders for two 1,800 TEU feeder vessels, scheduled for delivery in December 2028 and March 2029.
  • Each newbuild carries a price tag of $32.26 million, financed through a mix of debt and equity.
  • The vessels will join a fleet that currently includes 21 container carriers with a combined capacity of 61,144 TEU.
  • The operator’s orderbook now totals 12 newbuilds, expanding total fleet capacity to 97,396 TEU by 2029.
  • The sub-6,000 TEU segment remains undersupplied, with an ageing fleet and limited new orders supporting charter rates.

A Greek container shipping operator has secured two additional 1,800 TEU feeder vessels, marking the latest expansion in a segment where supply constraints continue to support charter rates.

The newbuilds, ordered from Nantong CIMC Sinopacific Offshore & Engineering in China, are set for delivery in late 2028 and early 2029.

The vessels will cost $32.26 million each, with financing structured through a combination of debt and equity.

This latest order follows two identical vessels contracted in April 2026, reinforcing the operator’s focus on modernising its fleet.

The newbuilds will be gearless and fuel-efficient, aligning with industry trends toward lower emissions and operational cost reductions.

The operator’s current fleet consists of 21 container carriers, including 15 feeder vessels and six intermediate ships, with a total capacity of 61,144 TEU.

Time charter rates for these vessels vary, with intermediate ships earning between $33,500 and $38,000 per day, while feeder vessels command rates ranging from $19,000 to $48,000.

The highest rate, $48,000 per day, is attached to a 2,800 TEU vessel on a short-term charter ending in mid-2026.

The orderbook now includes 12 newbuilds, with deliveries staggered through 2029.

The operator’s CEO highlighted the structural tightness in the sub-6,000 TEU segment, citing an ageing fleet and a limited orderbook as key drivers for sustained demand.

Market conditions in the feeder and sub-6,000 TEU segments remain favourable, with charter rates holding firm despite broader volatility in global shipping.

The operator’s disciplined approach to fleet renewal positions it to capitalise on this trend, particularly as older vessels face increasing regulatory and operational pressures.

The newbuilds will also enhance operational efficiency, reducing fuel consumption and maintenance costs compared to older tonnage.

The decision to expand comes as the container shipping industry continues to navigate shifting trade patterns and environmental regulations.

The operator’s focus on the feeder segment reflects a strategic bet on regional trade lanes, where demand for smaller vessels remains resilient.

With the orderbook now extending into 2029, the company is signalling confidence in the long-term outlook for containerised cargo transport.

This article is for informational purposes only and does not constitute financial advice. Please consult a licensed financial adviser before making investment decisions.